North Carolina License LawAdvancedNorth Carolina Exam
Which of the following is TRUE regarding a broker's obligation to handle offers?
AA broker may withhold an offer if it is below the listing price
BA broker must present all written offers to the seller promptly
CA broker may decline to present verbal offers
DBoth B and C are correctCorrect
Why Both B and C are correct Is Correct
Answer D: Both B and C are correct
A broker must present all written offers to the seller promptly and timely, but is not obligated to transcribe and present verbal offers, though they should inform the buyer to put offers in writing.
People Also Study
Related North Carolina Questions
- A listing broker in NC is legally obligated to present all written offers to the seller:Agency
- A NC buyer's agent has a duty to present all offers to the seller's agent promptly. This duty reflects the fiduciary duty of:Agency
- Under NC license law, a broker must provide a written agency agreement before performing which service?North Carolina License Law
- If a NC broker accepts an offer on behalf of the seller but does not promptly notify the seller, this violates the fiduciary duty of:North Carolina License Law
- NC license law requires a broker to provide a copy of any written offer to the buyer who made the offer:North Carolina License Law
- A NC broker is required to notify all parties in writing of any ownership interest or financial stake they have in a transaction. This is required by:North Carolina License Law
Key Terms to Know
Option Contract
A contract giving the buyer the right, but not the obligation, to purchase a property at a specified price within a specified time period.
Promissory NoteA written promise to repay a loan under specified terms — the borrower's personal financial obligation in a real estate transaction.
State-Specific Concepts
License Law
Practice More North Carolina Real Estate Questions
1,400+ questions covering all exam topics. Start free — no signup required.
Take the Free North Carolina Quiz →