April Division Highlights #2


Interested in obtaining a real estate license?

Take a look at the syllabus for the Broker Prelicensing Course that is posted on our website. It is the basis for all NC Prelicensing courses and has recently been updated to reflect current laws, rules, and forms.  Available education providers and course schedules are searchable under the Education tab on our website.

Solar Panel Loan Assumption

There have been several questions about solar panels in recent consumer calls.  It is important to note that solar panels are typically attached to the property in a permanent manner and are generally considered to be a fixture that will remain with the home.  If the parties use the standard residential contract form, it states: “ALL EXISTING FIXTURES ARE INCLUDED IN THE SALE AS PART OF THE PURCHASE PRICE, FREE OF LIENS, UNLESS EXCLUDED IN SUBPARAGRAPHS (d) OR (e)”.  This means that if there is an existing lien on the solar panels, the seller should pay it off prior to or at the sale of the home, unless the parties agree otherwise in their contract.  If a seller requires, as a condition of the sale, for the buyer to assume the seller’s responsibility for a solar panel lien, this is a material fact that should be disclosed to the buyer prior to their making an offer, including the lien amount they are to assume.

You are invited!

The monthly Real Estate Commission meetings are always open to the public, and you are invited to attend in person or online via Zoom.  The meeting tomorrow is in Edenton at the Historic 1767 Chowan County Courthouse.  A Zoom link will be available at ncrec.gov in the morning.