Property Management
When a commercial tenant in NC exercises a 'right of first refusal' to purchase the property, they must:
AMatch any bona fide offer the landlord receives from a third party✓ Correct
BAutomatically receive a discount below market value
CPurchase the property within 30 days regardless of price
DObtain landlord financing for the purchase
Explanation
A right of first refusal requires the holder to match the exact terms of a bona fide third-party offer before the seller/landlord may accept that offer.
Related North Carolina Property Management Questions
- The 'effective gross income' (EGI) for a NC rental property is calculated as:
- Under NC law, a landlord must give a month-to-month tenant how many days' notice to terminate the tenancy?
- The vacancy rate for a property management portfolio is calculated as:
- A triple-net (NNN) lease requires the tenant to pay:
- Which of the following is NOT typically included in a commercial NNN lease?
- A property manager who comingles tenant security deposits with operating funds in NC is subject to:
- A North Carolina landlord who fails to maintain the premises in a habitable condition may face:
- In North Carolina, a security deposit for a residential unit may not exceed:
Practice More North Carolina Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free North Carolina Quiz →