Land Use Controls Flashcards
When developing a subdivision, the developer must
A)
allow buyers three days to change their mind as to the sale.
B)
disclose whether the streets are public or private.
C)
allow all lots to be shown by all licensees.
D)
pay the same commission for each lot.
B)
disclose whether the streets are public or private.
This must be done in writing.
Which of the following are TRUE regarding the streets in a subdivision?
A)
The streets have to be public or the subdivision could not be approved.
B)
The tax maps are the best source to determine the status of streets.
C)
None of these.
D)
If there is a street sign, the licensee can assume it is a public street.
C)
None of these
Real estate licensees are expected to verify whether subdivision streets are public or private. The best source is the Department of Transportation. Some new construction will require a residential subdivision streets disclosure form.
When showing a buyer a home served by a septic system, a broker must
A)
investigate whether the system can be converted to public sewer.
B)
all of these.
C)
personally test the system.
D)
disclose the number of bedrooms the septic system is allowed per the permit.
D)
disclose the number of bedrooms the septic system is allowed per the permit
That information is available from the utilities department or the permitting department.
A residential homebuilder is selling lots in a to-be-built subdivision. It is not yet approved by the city or the county. A real estate broker
A)
cannot present offers until the subdivision is approved.
B)
can bring buyers present offers and collect a commission.
C)
can show lots but cannot be paid commissions.
D)
cannot not show the lots.
A)
cannot present offers until the subdivision is approved.
Per NC G.S. 153A-330, lots in unapproved subdivisions cannot be sold, which includes having a binding contract on unapproved lots.
All of the following are used in municipal planning EXCEPT
A)
building codes.
B)
housing codes.
C)
subdivision regulations.
D)
subdivision covenants.
D)
subdivision covenants
Subdivision covenants are private, not public, restrictions.
A landowner has a parcel of 125 acres. He decides he could make more money by breaking it into acre lots and selling those lots individually. Which law, regulation or ordinance will likely impact this landowner’s plans?
A)
Subdivision ordinance
B)
Building code
C)
None of these, unless the landowner is a real estate licensee
D)
North Carolina Residential Rental Agreements Act
A)
Subdivision ordinance
When parcels are broken into separate lots, the developer-owner must get approval from the city or the county, based upon the plan.
When a zoning regulation permits a specific use of a property, but a private restriction contained in the deed limits that use of the property, the restriction that would prevail is the
A)
master plan.
B)
zoning law.
C)
building restriction.
D)
deed restriction.
D)
deed restriction
Whichever rule is stricter (further limits on the use of the property)—a government regulation or a private restriction—will prevail.
An older home has a septic system that is failing. The listing broker should
A)
advise the seller to quit using the dishwasher until the property is sold.
B)
do none of these.
C)
make a deal with the neighbor next door for a new repair field.
D)
advise the seller to make repairs to the system before listing the property.
D)
advise the seller to make repairs to the system before listing the property.
A problem with the septic system is a material fact and would have to be disclosed to potential buyers. Further, it is unlikely that a lender would provide financing for a home with a faulty septic system.
All of the following restrictions are government rights EXCEPT
A)
covenant.
B)
police power.
C)
escheat.
D)
eminent domain.
A)
covenant
Covenants (promises) involve private restrictions. Police power is the general governmental power to pass rules to protect the health, welfare, and safety of the community—for example, zoning, licensing laws, and building codes.
A broker’s client wants to make an offer on a new lot in a subdivision under development. The broker must first
A)
get a commission agreement with the builder.
B)
present all offers the buyer wishes to make.
C)
do a CMA to determine the price the buyer should offer.
D)
discover if the subdivision has been approved by the city or the county.
D)
discover if the subdivision has been approved by the city or the county
It is illegal to sell lots in an unapproved subdivision, so the broker must discover the status of this subdivision before it is shown or before presenting offers.
In North Carolina, when must a seller give a North Carolina subdivision streets disclosure form to a buyer?
A)
Anytime a property is sold, as required in all sales transactions
B)
When the property is financed
C)
When requested from the buyer
D)
On the first sale of that property to a buyer
D)
On the first sale of that property to a buyer
The subdivision streets disclosure is required in North Carolina from the seller on the first sale of a property. From then on, the real estate agents should check the status of the street(s) to determine whether they are publically or privately maintained.
