Contracts
A NC real estate transaction in which the seller's agent prepares an offer for a buyer (who has no agent) raises concerns about:
ANo concerns — agents can help unrepresented buyers
BPotential dual agency or unauthorized practice of law if the agent negotiates on behalf of the unrepresented buyer✓ Correct
CA RESPA violation
DOnly a WWREA disclosure requirement
Explanation
A listing agent who goes beyond showing property to drafting and negotiating on behalf of an unrepresented buyer effectively creates a dual agency situation that requires disclosure and consent, or may represent unauthorized practice of law.
Related North Carolina Contracts Questions
- In NC, 'liquidated damages' provisions in real estate contracts are enforceable if:
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- The standard North Carolina Offer to Purchase and Contract form is jointly approved by which organizations?
- The NC Offer to Purchase and Contract allows the buyer to terminate during the due diligence period by delivering written termination notice to the seller or seller's agent by:
- Under the NC Standard Form 2-T, the 'Due Diligence Fee' is paid:
- If a buyer in NC makes an offer that includes a 'financing contingency,' closing may be delayed or cancelled if:
- A contract contingency in North Carolina allows the buyer to:
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