Wilmington North Carolina Contract for Sale and Purchase of Real Estate with No Broker for Residential Home Sale Agreement

• Category: North Carolina Real Estate - Home Sale
• State: North Carolina
• City: Wilmington
• Control #: NC-00472
• Format: Word; Rich Text

Description

This form is a Contract for the sale of real estate for use in North Carolina. INCLUDES BUYER'S DUE DILIGENCE PROVISIONS. It can be used for a cash sale, assumption or new loan buyer. The contract contains provisions common to a real estate transaction. No broker involved. The Wilmington North Carolina Contract for Sale and Purchase of Real Estate with No Broker for Residential Home Sale Agreement is a legally binding document that facilitates the buying and selling process of residential properties in Wilmington, North Carolina. This agreement is specifically designed for transactions without the involvement of a real estate broker or agent. Key Features: 1. Parties Involved: The contract identifies the parties involved in the transaction, including the buyer(s) and seller(s) of the residential property. 2. Property Details: It includes comprehensive information about the property being sold, such as its address, legal description, and any existing structures or fixtures. 3. Purchase Price and Terms: The agreement specifies the agreed-upon purchase price and outlines the terms and conditions related to financing, including down payment and any applicable contingencies. 4. Closing Procedures: The contract outlines the procedures and responsibilities associated with the closing process, including the date by which the transaction should be completed, who will hold the earnest money deposit, and how the title will be transferred. 5. Disclosures: It includes provisions for property disclosures, wherein the seller is required to inform the buyer of any known defects, hazards, or other material information about the property. 6. Contingencies: The agreement may include various contingencies that protect the buyer's interests, such as home inspections, obtaining financing, or the sale of the buyer's current property. Other Types of Wilmington North Carolina Contracts for Sale and Purchase of Real Estate with No Broker for Residential Home Sale Agreement may include specialized agreements tailored to different types of properties or specific circumstances. For instance: 1. Vacant Land Purchase Agreement: This type of agreement is used when the sale involves undeveloped land rather than a residential property. 2. Condominium Purchase Agreement: This agreement is specific to the purchase and sale of condominium units, addressing unique considerations related to condo associations and common areas. 3. New Construction Purchase Agreement: Designed for the purchase of newly constructed homes, this agreement includes additional provisions related to warranties, completion dates, construction details, and customization options. 4. Investment Property Purchase Agreement: This agreement is used when buying residential properties with the intention of generating rental income or resale for profit. It is essential to consult a legal professional or real estate attorney when considering any real estate transaction to ensure compliance with local laws and regulations and to tailor the contract to the specific needs and circumstances of both buyers and sellers.

The Wilmington North Carolina Contract for Sale and Purchase of Real Estate with No Broker for Residential Home Sale Agreement is a legally binding document that facilitates the buying and selling process of residential properties in Wilmington, North Carolina. This agreement is specifically designed for transactions without the involvement of a real estate broker or agent. Key Features: 1. Parties Involved: The contract identifies the parties involved in the transaction, including the buyer(s) and seller(s) of the residential property. 2. Property Details: It includes comprehensive information about the property being sold, such as its address, legal description, and any existing structures or fixtures. 3. Purchase Price and Terms: The agreement specifies the agreed-upon purchase price and outlines the terms and conditions related to financing, including down payment and any applicable contingencies. 4. Closing Procedures: The contract outlines the procedures and responsibilities associated with the closing process, including the date by which the transaction should be completed, who will hold the earnest money deposit, and how the title will be transferred. 5. Disclosures: It includes provisions for property disclosures, wherein the seller is required to inform the buyer of any known defects, hazards, or other material information about the property. 6. Contingencies: The agreement may include various contingencies that protect the buyer's interests, such as home inspections, obtaining financing, or the sale of the buyer's current property. Other Types of Wilmington North Carolina Contracts for Sale and Purchase of Real Estate with No Broker for Residential Home Sale Agreement may include specialized agreements tailored to different types of properties or specific circumstances. For instance: 1. Vacant Land Purchase Agreement: This type of agreement is used when the sale involves undeveloped land rather than a residential property. 2. Condominium Purchase Agreement: This agreement is specific to the purchase and sale of condominium units, addressing unique considerations related to condo associations and common areas. 3. New Construction Purchase Agreement: Designed for the purchase of newly constructed homes, this agreement includes additional provisions related to warranties, completion dates, construction details, and customization options. 4. Investment Property Purchase Agreement: This agreement is used when buying residential properties with the intention of generating rental income or resale for profit. It is essential to consult a legal professional or real estate attorney when considering any real estate transaction to ensure compliance with local laws and regulations and to tailor the contract to the specific needs and circumstances of both buyers and sellers.