North Carolina Option to Lease Real Estate (For Telecommunication Purposes)
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How to fill out Option To Lease Real Estate (For Telecommunication Purposes)?
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FAQ
(1) A broker shall not advertise any brokerage service or the sale, purchase, exchange, rent, or lease of real estate for another or others without the consent of his or her broker-in-charge and without including in the advertisement the name of the firm or sole proprietorship with which the broker is affiliated.
To be legally binding, both you and the buyer must sign the real estate contract. You can back out without consequences if the contract is still verbal and has not yet been legally signed.
It's not illegal to have an oral contract to sell land in California. However, courts historically will not enforce oral real estate contracts where there is a dispute between the parties and a refusal to transfer title by a recorded deed unless there are unusual circumstances.
Pros of Selling Your Home as a Lease With a Purchase Option Gives the seller time to find the right buyer: With a lease-purchase option, the seller can take their time finding the right buyer, rather than feeling pressure to sell their home quickly.
After your buyer's offer was verbally ?accepted,? what the listing agent is telling you is that the seller currently intends on signing he Offer but until the seller signs it, it is not binding.
North Carolina General Statutes 47G-1 through 47G-7 govern the rent-to-own, or ?option contract? law. There are minimum contract requirements that must be present before the rent-to-own lease agreement is considered valid.
North Carolina must be in writing. Since only written offers may become binding contracts, your offer should be in writing and signed.
Is an oral contract enforceable? In North Carolina, an oral contract is enforceable except in limited situations governed by the statute of frauds.
