For current rule additions, changes, or deletions, click
here
New Criminal Record Report Provider for License Applicants
Effective April 1, 2013, license applicants should contact
the agency listed below to obtain the criminal record report
that must be provided to the Commission in connection with
a license application. As of April 1, 2013, the required report
may only be obtained from the agency listed below, although
applicants with reports provided by Carolina Investigative
Research (CIR) within six months prior to their license application
date may still use those reports.
Online Broker Applications: CRC
will provide an electronic version of the report directly
to the Commission, where it will be matched up with your online
application, and will also provide a copy to you.
Paper Broker Applications: CRC will
provide the report to you and you must attach a copy to your
paper application submitted to the Commission.
Oil & Gas Leases in North Carolina
Summary of Landowner and Public Protections in the Law P.L. 2012-143 (S820) and 2011-276 (H. 242).
Read more...
Difference Between NC Real Estate Commission and NC Association of Realtors
Mandatory Disclosure of Mineral Rights with Real Estate
Sales
With very few exceptions, state law now requires all sellers,
even builders and sellers of new construction, to disclose
in the sales contract the status of oil and gas rights regarding
any property offered for sale. The limited exceptions deal
primarily with transfers of property pursuant to court order
or the administration of an estate, sales between co-owners
of the property, and lease with option to purchase contracts
where the lessee occupies the dwelling. Notably, parties negotiating
a real estate sale cannot waive this oil and gas rights disclosure
even if they agree not to complete a residential property
disclosure statement pursuant to N.C. Gen. Stat. Chapter 47E.
To find the mandatory language to include in boldface type
in your real estate contract, see N.C. Gen. Stat. § 47E-4(b2).
The law requires the seller to answer three specific questions,
and then obtain the buyer’s initials to acknowledge
the oil and gas disclosure as part of the real estate contract.
The seller must answer the following: 1) whether the oil and
gas rights were severed from the property by a previous owner;
2) whether the seller has personally severed such rights from
the property in the past; and, 3) whether the seller intends
to sever said rights from the property prior to transfer of
title to the potential buyer. All three questions must be
answered “yes” or “no,” except that
question 1) may be answered “no representation”
by the seller.
Lawsuits Target Three N.C. Foreclosure Assistance Firms
Commission Chairman B.C. Cone and then-Vice Chairman Alice
Mosteller, on behalf of the Commission, presented plaques
to C. Lee Allen, Jr. (Albemarle) as recipient of the Joe Schweidler
Memorial Scholarship, and R. Lawrence Mahool (Charlotte) recipient
of the Phillip T. Fisher Scholarship Award at the Commission’s
August 2012 meeting. Tony G. Johnson (Greensboro) recipient
of the Blanton Little Memorial Scholarship, was not able to
attend. The North Carolina Real Estate Educational Foundation
recommended Allen and Johnson for the Schweidler and Little
Scholarships recognizing their outstanding academic achievement
in REALTORS® Institute courses. The North Carolina Chapter
of the National Association of REALTORS® Council of Residential
Specialists recommended Mahool for the Fisher Scholarship
for his outstanding performance in his CRS course. Mr. Cone,
Ms. Mosteller and the Commission congratulate the recipients
on their outstanding academic achievement in either the GRI
or CRS course.
Residential Property Disclosure Form Undergoes Further
Revision
The Residential Property and Owners’ Association Disclosure
Statement, which was revised by legislative mandate in 2011,
has undergone further revision. The new form will be required
for all properties placed on the market on or after January
1, 2013. For those properties
placed on the market prior to January 1, 2013 that require
a corrected Disclosure Statement pursuant to G.S. § 47E-7,
the new form will be used.
You will find the new form
on the Forms page of this Web site under Consumer Forms. More
information about the new form is available on page one of
the October
2012 Bulletin.
Bad-Check Scam
Beware of a bad-check scam still circulating in NC. An out-of-country
buyer makes an offer on a property sight unseen with a large
“certified” earnest money check for deposit in
an attorney’s trust account The buyer then rescinds
the offer, hoping for a refund of the deposit before the check
bounces. Or, the buyer overpays the earnest money, and asks
for a refund of the difference. Too often, the broker and
attorney discover too late that the funds were no good in
the first place.
Online Resources
Real Estate Manual
- The Digital
Version of the Real Estate Manual is available online
as a paid subscription.
Real Estate Bulletin
- The May
2013 issue of the Real Estate Bulletin is available
online. (For previous issues of Bulletins, click on the
"Publications/Bulletins" link on the left.)
BICAR Eligibility
The Commission’s Broker-in-Charge Annual Review (BICAR)
course is designed for and restricted to currently designated
brokers-in-charge and brokers who are broker-in-charge eligible.
A broker who is not a broker-in-charge or who is not broker-in-charge
eligible will not receive credit for the BICAR course.
A broker is broker-in-charge eligible when he or
she has been designated as a broker-in-charge and completed
the Commission’s 12-hour Broker-in-Charge course.
A broker may maintain that eligibility indefinitely, even
when not serving as a broker-in-charge, by taking the Broker-in-Charge
Annual Review (BICAR) course each license period. The
BICAR satisfies the annual continuing education elective requirement.
In addition, the broker must also take the mandatory annual
Update course and timely renew his or her license.
From time to time a broker who has lost his or her designation
or eligibility will take the course and not fully understand
why he or she is not receiving continuing education credit.
If you believe yourself to be a broker-in-charge or broker-in-charge
eligible, select “Licensees Only” from the menu
on the left side of the Homepage and check your status. Eligible
brokers will be able to login and select a “BIC Eligible
Document” verifying their current eligibility status.
All others will not have this option available to them. If
you are unable to print a “BIC Eligible Document”
from this area of the Web site and feel that your record is
incorrect, please contact the Commission’s Information
Services Section at 919-875-3700, Ext. 772.
A broker may lose his or her status or eligibility to serve
as a broker-in-charge for any of the following reasons: 1)
the broker’s license expires or the broker’s license
is suspended, revoked or surrendered; 2) the broker’s
license is made inactive for any reason, including
failure to satisfy the continuing education requirements;
3) the broker fails to complete the Broker-in-Charge Annual
Review Course; or 4) the broker is found by the Commission
to have not possessed the experience required at the time
of either initial designation as a broker-in-charge or re-designation
as a broker-in-charge.
Please take the time to consult the Commission’s Web
site prior to taking the BICAR course to verify that the Commission’s
records reflect that you are indeed a broker-in-charge or
broker-in-charge eligible to ensure you will receive your
continuing education credit.
Guide to Contacting the Commission
You will find the new Guide
to Contacting the Commission on the Publications page
right after the mail-in and online order forms. Print this
guide and save it for a handy reference to help you reach
the appropriate Division and staff members for your purpose.
To be updated as needed, the Guide provides information about
each of the Commission's four divisions, phone and fax numbers,
email addresses, forms to order by fax, tips on productive
use of the Commission website, and a map to the Commission
office.
