EIFS / Synthetic Stucco - A material fact that must be disclosed even if it has been removed from a property, Radon and Asbestos - Exposure causes lung cancer, Lead-based Paint - Exposure causes memory loss, cognitive issues, and possibly death , Operating Budget - Forecasts future income and expenses for a rental complex, Cash Flow Report - Details money coming in versus money going out which determines a businesses liquidity, 3 Calendar Days - Time to deliver the WWREA to a potential client or customer when it was impractical or impossible to provide in advance, First Substantial Contact - Time to review the WWREA regardless of if you have a physical copy available, Duties owed to a customer - Honesty, fairness, disclosure of material facts. Honesty, fairness, disclosure of material facts. Honesty, fairness, disclosure of material facts. Honesty, fairness, disclosure of material facts., Duties owed to a client - Obedience, loyalty, disclosure, confidentiality, accounting, reasonable skill-care-diligence, Constructive Eviction - Termination of a lease when the tenant moves out and stops paying rent because the owner refused to make necessary repairs, Actual Eviction - Termination of lease when the tenant fails to pay rent, damages the property, or is violating the rules, Options when a seller refuses to authorize dual agency - Seek subsequent authorization or work with an unrepresented buyer, Closing - When compensation is paid to a brokerage, Contract Formation - When compensation is earned, Public Special Assessment - Charge in addition to ad-valorem taxes for roads, street lights, sidewalks, etc., 10 Calendar Days - Time to notify NCREC about a change in name, address, or email, 60 Calendar Days - Time to notify NCREC of a criminal conviction or disciplinary action by another licensing board, Listing Broker - Liable for failing to disclose a hidden defect which the listing broker knows about, Listing Broker, Selling Broker and Seller - Liable when a listing broker misrepresents square footage by a significant amount, NCREC - Sets the rules for standard contracts but does not create the contracts,
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