Chapter 10 Sales Contracts And Practices

Question 1

What is the role of the North Carolina commission?

Answer 1

The commission does not create contracts or provide the forms or prove contract but it does create rules regarding the provisions that contain

Question 2

Delivery of documents

Answer 2

Must deliver document the commission never later than five days all written agreement contracts and offers

Question 3

Oh contract must be in?

Answer 3

Riding or uniform electronic transaction act, Internet form

Question 4

Termination of offers

Answer 4

By rejection or counter offer and within the prescribed time or Barry vindication prior to acceptance there’s no penalty to Byron all money should be returned

Question 5

What are contingencies?

Answer 5

They are conditions upon which the contract is based

Question 6

Due diligence fee

Earnest money

Answer 6

Due diligence fee goes to the seller in three business day rule

Earnest money goes to the provisional broker who delivers to the big immediately big deposits in the trust account three banking they rule