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A North Carolina broker may be subject to disciplinary action for failing to deliver to...

North Carolina Real Estate Commission NCREC-Broker-N Full Course Access
North Carolina Real Estate Commission NCREC-Broker-N View All Questions

A North Carolina broker may be subject to disciplinary action for failing to deliver to their client a detailed and accurate closing statement. What obligation does the broker have if the settlement statement will be prepared by a settlement agent and provided at closing?

A.

Ensure that the statement is delivered to the client at least three days before closing

B.

Ensure that the statement is signed by both the buyer and the seller

C.

Review the statement for accuracy and notify all parties to the closing of any errors

D.

Have the statement notarized and recorded at the office of the register of deeds

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Why does the North Carolina Conner Act require deeds to be recorded?
When submitting an offer, a buyer handed their broker an earnest money deposit in cash.
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