Winston–Salem 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: Winston–Salem
• 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 Winston-Salem North Carolina Contract for Sale and Purchase of Real Estate with No Broker for Residential Home Sale Agreement is a legal document commonly used in real estate transactions in the Winston-Salem area. This agreement outlines the terms and conditions agreed upon between the buyer and the seller when buying or selling a residential property without the involvement of a real estate broker. This contract serves as a binding agreement between the buyer and the seller and provides detailed information about the property and the terms of the sale. It is crucial to have a well-drafted contract to protect the rights and interests of both parties involved in the transaction. Some key elements included in the Winston-Salem North Carolina Contract for Sale and Purchase of Real Estate with No Broker for Residential Home Sale Agreement are: 1. Parties involved: The names and contact information of the buyer and seller are provided at the beginning of the agreement. 2. Property description: The contract includes a detailed description of the residential property being sold, including its physical address, legal description, boundaries, and any unique features or amenities. 3. Purchase price and terms: The agreed-upon purchase price is stated in the contract, along with the details of any financing or payment terms negotiated between the parties. 4. Due diligence period: The contract allows for a specific period, usually a few days, for the buyer to conduct inspections, appraisals, and other necessary investigations regarding the property's condition. 5. Earnest money deposit: The amount of earnest money deposit to be paid by the buyer as a show of good faith is specified in the agreement. This deposit is typically held in escrow until closing. 6. Contingencies: The contract may include contingency clauses that specify certain conditions that must be met for the sale to move forward. These may include satisfactory financing, home inspection results, or the sale of the buyer's current home. 7. Closing and possession: The contract outlines the closing date, time, and location. It also states when the buyer will take possession of the property and any associated prorations of property taxes, homeowner association fees, or other relevant expenses. Different types of Winston-Salemem North Carolina Contracts for Sale and Purchase of Real Estate with No Broker for Residential Home Sale Agreement may include variations in terms and conditions based on individual negotiations and specific property-related factors. However, the core elements mentioned above remain consistent in most agreements. It is important to consult with a real estate attorney or professional when drafting or reviewing a contract of this nature to ensure it complies with all applicable laws and protects the interests of all parties involved in the real estate transaction.

The Winston-Salem North Carolina Contract for Sale and Purchase of Real Estate with No Broker for Residential Home Sale Agreement is a legal document commonly used in real estate transactions in the Winston-Salem area. This agreement outlines the terms and conditions agreed upon between the buyer and the seller when buying or selling a residential property without the involvement of a real estate broker. This contract serves as a binding agreement between the buyer and the seller and provides detailed information about the property and the terms of the sale. It is crucial to have a well-drafted contract to protect the rights and interests of both parties involved in the transaction. Some key elements included in the Winston-Salem North Carolina Contract for Sale and Purchase of Real Estate with No Broker for Residential Home Sale Agreement are: 1. Parties involved: The names and contact information of the buyer and seller are provided at the beginning of the agreement. 2. Property description: The contract includes a detailed description of the residential property being sold, including its physical address, legal description, boundaries, and any unique features or amenities. 3. Purchase price and terms: The agreed-upon purchase price is stated in the contract, along with the details of any financing or payment terms negotiated between the parties. 4. Due diligence period: The contract allows for a specific period, usually a few days, for the buyer to conduct inspections, appraisals, and other necessary investigations regarding the property's condition. 5. Earnest money deposit: The amount of earnest money deposit to be paid by the buyer as a show of good faith is specified in the agreement. This deposit is typically held in escrow until closing. 6. Contingencies: The contract may include contingency clauses that specify certain conditions that must be met for the sale to move forward. These may include satisfactory financing, home inspection results, or the sale of the buyer's current home. 7. Closing and possession: The contract outlines the closing date, time, and location. It also states when the buyer will take possession of the property and any associated prorations of property taxes, homeowner association fees, or other relevant expenses. Different types of Winston-Salemem North Carolina Contracts for Sale and Purchase of Real Estate with No Broker for Residential Home Sale Agreement may include variations in terms and conditions based on individual negotiations and specific property-related factors. However, the core elements mentioned above remain consistent in most agreements. It is important to consult with a real estate attorney or professional when drafting or reviewing a contract of this nature to ensure it complies with all applicable laws and protects the interests of all parties involved in the real estate transaction.