Public Special Assessment - A fee in addition to real property taxes to cover paving, sidewalks, city water, etc. often charged based on road frontage., Private Special Assessment - A fee charged to a homeowner in addition to HOA dues often for siding, new roofs, or amenities., Synthetic Stucco (EIFS) - Material fact that must be disclosed even if removed from the property, Radon - Material fact that must be disclosed if the reading is 4.0 pico curies or higher and is the second leading cause of lung cancer., Terminates an agency agreement - Completion, expiration, mutual agreement, death of an sole practitioner, death of the principal, Terminates a contract - Constructive or actual eviction, termination by buyer during the due diligence period, mutual agreement, full performance, Designated agency - Must be expressly agreed to in the agency agreement. The firm must represent both the buyer and seller in the transaction., NCAR/NCBA - Creates the standard forms most often used in real estate transactions, NC Real Estate Commission - Creates the rules that establish what needs to be included in standard documents, Disclose information to client - A listing agent learns that an unrepresented buyer is willing to pay more than the offer amount, Conceal information - A licensee is acting as a dual agent and learns the seller will lose money on the sale of the house, Unenforceable  - An oral contract to purchase real estate, Voidable - A contract with a minor or drunk, Constructive eviction - The property owner fails to make necessary repairs after the tenant requests multiple times, Actual eviction - Summary ejectment for non-payment or breach of a lease, Education (full broker) - 8 hours - 4 hour GENUP and 4 hour Elective, Education (provisional broker) - 8 hours - 4 hour GENUP and 4 hour Elective and 3 postlicense classes, 10 Days - Days to report name or address change, 60 Days - Days to report a conviction or guilty plea, 7 Days - Days a party can delay when using best efforts under NCAR/NCBA Offer to Purchase and Contract,

State Problem Topics 1

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