North Carolina Contract for the Sale and Purchase of Real Estate - No Broker - Seller Financing or All Cash - Residential

• Category: Real Estate - Contracts - Residential
• State: Multi-State
• Control #: US-00472A
• Format: Word; Rich Text

Description

This Contract is for the sale of a residence or multi-family dwelling where the sellers are to finance a portion of the purchase price or the buyer is to pay cash. The North Carolina Contract for the Sale and Purchase of Real Estate NowNo Broke— - Seller Financing or All Cash — Residential is a legally binding agreement that outlines the terms and conditions for the sale and purchase of residential real estate in North Carolina. This contract is specifically designed for transactions where there is no involvement of a real estate broker and the payment is either through seller financing or all cash. The contract includes various sections that cover the important aspects of the transaction. It starts with the identification of the parties involved, including the buyer and seller, along with their contact details. The property being sold is also clearly described, including the address, legal description, and any additional features. There are provisions for the purchase price, earnest money deposit, and the method of payment. In the case of seller financing, the terms of the financing arrangement, including the interest rate, repayment schedule, and any balloon payments, are detailed. If the transaction is all cash, the contract specifies the source and method of payment, along with any conditions for the release of funds. Other vital sections of the contract encompass contingencies, such as the buyer's right to conduct inspections, appraisals, and obtain financing. These contingencies protect the buyer's interests and provide an opportunity to back out of the contract if certain conditions are not met. The contract also addresses property condition disclosures, warranties, and remedies for breach of contract. Additional provisions may include deadlines for key actions, closing costs allocation, prorations, and the condition of the property upon possession. Furthermore, the contract may address specific terms related to termination, default, dispute resolution, and attorney fees. It is essential to note that the detailed description above is for the standard North Carolina Contract for the Sale and Purchase of Real Estate NowNo Broke— - Seller Financing or All Cash — Residential. However, variations or additional forms may exist to cater to specific situations or legal requirements. It is advisable to consult with a real estate attorney or professional for accurate information and guidance when dealing with real estate contracts in North Carolina.

The North Carolina Contract for the Sale and Purchase of Real Estate NowNo Broke— - Seller Financing or All Cash — Residential is a legally binding agreement that outlines the terms and conditions for the sale and purchase of residential real estate in North Carolina. This contract is specifically designed for transactions where there is no involvement of a real estate broker and the payment is either through seller financing or all cash. The contract includes various sections that cover the important aspects of the transaction. It starts with the identification of the parties involved, including the buyer and seller, along with their contact details. The property being sold is also clearly described, including the address, legal description, and any additional features. There are provisions for the purchase price, earnest money deposit, and the method of payment. In the case of seller financing, the terms of the financing arrangement, including the interest rate, repayment schedule, and any balloon payments, are detailed. If the transaction is all cash, the contract specifies the source and method of payment, along with any conditions for the release of funds. Other vital sections of the contract encompass contingencies, such as the buyer's right to conduct inspections, appraisals, and obtain financing. These contingencies protect the buyer's interests and provide an opportunity to back out of the contract if certain conditions are not met. The contract also addresses property condition disclosures, warranties, and remedies for breach of contract. Additional provisions may include deadlines for key actions, closing costs allocation, prorations, and the condition of the property upon possession. Furthermore, the contract may address specific terms related to termination, default, dispute resolution, and attorney fees. It is essential to note that the detailed description above is for the standard North Carolina Contract for the Sale and Purchase of Real Estate NowNo Broke— - Seller Financing or All Cash — Residential. However, variations or additional forms may exist to cater to specific situations or legal requirements. It is advisable to consult with a real estate attorney or professional for accurate information and guidance when dealing with real estate contracts in North Carolina.