This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
North Carolina Contract to Sell Commercial Property with Commercial Building — Seller Financing Secured by Mortgage and Security Agreement Overview: A North Carolina Contract to Sell Commercial Property with Commercial Building — Seller Financing Secured by Mortgage and Security Agreement is a legally binding document that outlines the terms and conditions of a sale transaction between a seller and a buyer. This contract specifies that the buyer will be financing the purchase through seller financing, wherein the seller acts as the lender. The buyer will be securing the loan with a mortgage and security agreement on the commercial property being sold. This type of agreement is commonly used in North Carolina for commercial real estate transactions. Keywords: North Carolina, Contract to Sell Commercial Property, Commercial Building, Seller Financing, Mortgage, Security Agreement Types of North Carolina Contracts to Sell Commercial Property with Seller Financing: 1. North Carolina Contract to Sell Commercial Property with Commercial Building — Seller Financing Secured by Mortgage and Security Agreement: This is the most common type of contract, which involves the sale of a commercial property with a building. The buyer will finance the purchase through seller financing and secure the loan with a mortgage and security agreement. 2. North Carolina Contract to Sell Commercial Property with Land — Seller Financing Secured by Mortgage and Security Agreement: This type of contract involves the sale of commercial land only, without any buildings. The buyer will finance the purchase through seller financing and secure the loan with a mortgage and security agreement on the land. 3. North Carolina Contract to Sell Commercial Property with Multiple Buildings — Seller Financing Secured by Mortgage and Security Agreement: This contract involves the sale of commercial property with multiple buildings. The buyer will finance the purchase through seller financing and secure the loan with a mortgage and security agreement on the entire property, including all buildings. 4. North Carolina Contract to Sell Vacant Commercial Property — Seller Financing Secured by Mortgage and Security Agreement: This type of contract involves the sale of vacant commercial property, without any buildings or structures. The buyer will finance the purchase through seller financing and secure the loan with a mortgage and security agreement on the vacant land. 5. North Carolina Contract to Sell Commercial Property with Mixed-Use Building — Seller Financing Secured by Mortgage and Security Agreement: This contract involves the sale of a commercial property with a building that has mixed-use capabilities, such as retail space on the first floor and residential units on upper floors. The buyer will finance the purchase through seller financing and secure the loan with a mortgage and security agreement on the entire property. In conclusion, the North Carolina Contract to Sell Commercial Property with Commercial Building — Seller Financing Secured by Mortgage and Security Agreement is a legally binding document that details the terms of a sale transaction involving a commercial property. Different types of contracts may exist depending on factors such as the presence of buildings, vacant land, multiple buildings, or mixed-use capabilities.
