North Carolina Offer to Purchase
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How to fill out Offer To Purchase?
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FAQ
A: To be enforceable, real estate sales contracts in North Carolina must be in writing. Since only written offers may become binding contracts, your offer should be in writing and signed.
The North Carolina Residential Real Estate Purchase Agreement is by default an ?As-Is? agreement. This means, that unless you agree to make repairs or upgrades, the buyer accepts the property in its existing condition.
An option ... is a contract by which the owner of property agrees with another that he shall have the right to purchase the same at a fixed price within a certain time. It is in legal effect an offer to sell, coupled with an agreement to hold .
The North Carolina Offer to Purchase and Contract is also often called a due diligence contract. We have a due diligence period, and within this time frame, a buyer can terminate a contract for any reason. It doesn't have to be because of a bad inspection, loan, or other obvious problems.
The most common residential offer form in North Carolina is the ?Offer to Purchase and Contract? (Form No. 2-T), jointly approved by the N.C. Bar Association and NC REALTORS®. Many standard ?addenda? forms also are available to add provisions of special importance to the parties.
While all offers must be presented, even if there is a contract pending, there is nothing in Rule . 0106(a) (or anywhere else in the Rules) that obligates brokers, or their clients, to respond to any offers received within any particular time frame.