Contracts
The NC Residential Property Disclosure Statement must be delivered to the buyer before the buyer makes an offer. If not delivered, the buyer may:
ASue the seller for triple damages
BRescind (cancel) the contract and receive a refund of deposits✓ Correct
CDemand a price reduction automatically
DReport the seller to the NCREC
Explanation
If the NC Residential Property Disclosure Statement is not provided before the offer, the buyer may rescind the contract at any time before closing and receive a full refund of deposits paid.
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