New Commission Member

The Commission welcomed new Commission member Judy F. Greenhill, broker/owner of Classic Properties of the Catawba Valley in Hickory, at a swearing-in ceremony conducted by The Honorable Donna Stroud, Judge, North Carolina Court of Appeals, on September 10, 2014.

Residential Offer to Purchase and Contract Form Revised

The standard residential Offer to Purchase and Contract form has been revised to include an expanded reference to the Subdivision Street Disclosure Statement required in certain circumstances under NCGS 136-102.6. This disclosure statement is separate and distinct from the Residential Property and Owners’ Association Disclosure Statement required under NCGS 47E.

NCHILB Prohibition Against the Payment of Referral Fees by Home Inspectors

Brokers should be aware that the NC Home Inspectors Licensing Board rules prohibit Home Inspectors from paying referral fees or other compensation to real estate brokers or other parties having a financial interest in a real estate transaction for referrals for inspections or inclusion on a list of “preferred” or “recommended” inspectors.

Types of Services a Broker Must Provide

The Commission does not prescribe the number or type(s) of services that a broker must provide. Each broker is permitted to decide for herself or himself which services she or he will provide and the corresponding fee(s) for those service(s).  Regardless of the number or type(s) of services chosen by a broker, the broker must always comply with the Real Estate License Law and all of the Commission’s rules.

Listing Brokers and Material Facts

Listing brokers should remember that when it comes to material facts, they have a duty to DISCOVER and disclose.  Therefore, if a seller obtains an inspection prior to listing, the agent should also review the report to discern what, if anything, needs to be disclosed to potential buyers.

NC Foreclosure Prevention Fund

The NC Housing Finance Agency administers the NC Foreclosure Prevention Fund which assists homeowners who are struggling to make their mortgage payments for a variety of reasons. The Fund also assists returning veterans who are transitioning into civilian jobs. For more information go to:  http://ncstiws.rapams.com/images/assets/pdfs/press/Veterans%20Benefits%20Update%20-%20Final.pdf or www.ncforeclosureprevention.gov

Commission Awards Scholarships

Scholarships were presented by (then) Commission Chairman Everett “Vic” Knight, left, and (then) Vice Chairman Thomas R. Lawing, Jr., to three brokers at the June Commission meeting.  The recipients of the Commission scholarships, which honor former Commission Executive Directors, are (l. to r.) Thao-Van “Amy” Thai (Cary), the Joe Schweidler Memorial Scholarship; Ray Gasperson (Columbus), the Blanton Little Memorial Scholarship; and Deborah Kempter (Charlotte), the Phillip T. Fisher Scholarship.  The Real Estate Commission congratulates the recipients on their achievements.

The Real Estate Commission congratulates James W. Nelson, a second-year law student at the Charlotte School of Law, the 2014 recipient of the Allan R. Dameron Legal Internship award. The Commission gives the award annually in memory of and tribute to former Commission Chairman Allan Dameron. The award was presented at the June Commission meeting by (then) Chairman Everett “Vic” Knight, left, and (then) Vice Chairman Thomas R. Lawing, Jr.

Commission Elects New Chairman and Vice Chairman

The North Carolina Real Estate Commission is pleased to announce the election of Thomas R. Lawing, Jr. as Chairman and Cindy Chandler as Vice Chairman for a one-year term beginning August 1, 2014.  Mr. Lawing (Charlotte), a licensed broker since 1970, is President of T. R. Lawing Realty, Inc.  Ms. Chandler (Charlotte), a broker since 1983, is owner of The Chandler Group.

Be Aware of Repairs/Improvements/Additions Without a Permit

When listing a property, be aware of repairs/improvements/additions that might lack a required permit.  Look for red flags that indicate the work might have been done by the owner or unqualified workers without the proper permit.  If in doubt, ask the seller and inquire with the appropriate County or City permits department to discover and disclose any lack of permit.

License Renewal

The deadline for license renewal is June 30. If you are a Broker-in-Charge you should also verify that those licensees affiliated with your firm have properly renewed their licenses and have obtained the proper continuing education to avoid a change in license status on July 1. You may verify license status, continuing education credits and renewal dates for licensees affiliated with your firm here http://bit.ly/1izhPTe