N.D. Admin. Code 75-02-01.2-25

Current through Supplement No. 395, January, 2025

Section 75-02-01.2-25 - Good-faith effort to sell real property

A good-faith effort to sell is demonstrated only if the property owner:

1. Arranges for regular advertising, including classified advertisements in newspapers, post "for sale" signs, and marketing efforts made by real estate agencies;

2. Makes sales efforts including contacts with persons who respond to advertising efforts, persons known to be potential purchasers of property of the type offered, and entry into a listing agreement with a real estate agency;

3. Sets and publishes an asking price likely to result in a sale; and

4. Accepts any offer that meets or exceeds seventy-five percent of the published asking price.

N.D. Admin Code 75-02-01.2-25

Effective December 9, 1996.

General Authority: NDCC 50-09-02, 50-09-25

Law Implemented: NDCC 50-09-02