NC Real Property Specialist case studies
NC Real Property Specialist · Put your knowledge to work in context.
The NC Real Property Specialist designation is an independent study credential for candidates who want to demonstrate working command of North Carolina real property practice - the body of law, contract, finance, and brokerage rules that a North Carolina broker or property professional applies daily. It suits aspiring brokers preparing for state licensure, newly licensed agents building subject-matter depth, and allied professionals such as property managers, paralegals, and loan officers who need to read a deed, a settlement statement, or a listing agreement with confidence. The NC Real Property Specialist case studies are 5 cases and about 2,756 words.
1Due Diligence Deadline and Inspection Findings
On March 1, a buyer and seller sign the NC Offer to Purchase and Contract (Standard Form 2-T) for a 385,000 house. The buyer pays a 2,500 due diligence fee directly to the seller and deposits 6,000 earnest money with the listing firm.
583 words, about 3 min2Low FHA Appraisal, Seller Credit, and Cash Gap
Buyer has an FHA preapproval for a 300,000 purchase price, 3.5% down, and a 30-year fixed loan at 6.25%. The seller agrees in the contract to pay 9,000 toward the buyer's closing costs and prepaid items.
574 words, about 3 min3Unlicensed Assistant, Team Advertising, and Referral Payments
Carolina Crest Realty LLC operates a four-agent group called the Piedmont Homes Team. The team leader, Mia, is a licensed broker.
497 words, about 2 min4Quitclaim Deed, Driveway Use, and Garage Encroachment
Buyer contracts to buy a five-acre parcel for $260,000. The contract says the seller will convey by quitclaim deed, and the buyer waives a survey and buys 'as is.' After the due diligence period ends, the buyer's lender obtains a survey anyway for the loan.
551 words, about 3 min5Security Deposit Deadline and January Heat Outage
Oakview Property Management manages a 12-unit apartment building in Charlotte. A tenant pays a 1,200 security deposit and 1,100 monthly rent.
551 words, about 3 min