Nc 302 Post Licensing Study Guide Rated A+

All offers must be communicated {Ans: Deliver all offers immediately, but never later than 3 days The best practice is always IMMEDIATELY}Offer & Acceptance {Ans: Seller -- OfferEE -- they can accept, reject, counter -- COUNTER OFFER VOIDS ORIGINAL OFFER Buyer -- OfferOR -- they may withdraw or revoke their offer any time prior to their acceptance}Some fees may be POC (Paid outside of closing) {Ans: STILL needs to show up on the CD even though it hasn't yet been paid but NEVER collected/debited}A valid contract is formed when a contract is signed, delivered and communicated {Ans: "Communicating an offer or an acceptance to a principal's agent is the same as communicating directly to the principal"}Interest on trust accounts {Ans: trust accounts can always earn interest who keeps it depends on the client's instructions and agreement}Penalties on unapproved subdivisions {Ans: County can get injunctive relief (order to cease activity) Denial of building permits}