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. History: Effective December 9, 1996. General Authority: NDCC 50-09-02, 50-09-25 Law Implemented: NDCC 50-09-02