North Carolina Real Estate Contract for Sale - Cash or Seller Financing
Form reviewed by Bahman Eslamboly, Attorney at FindLegalForms
Real Estate Contract for Sale - Cash or Seller Financing
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The Residential Real Estate Sale Contract form can be used by a buyer and a seller of a free-standing residential home. The Agreement provides for the traditional terms between a seller and buyer, including financing contingencies, surveys, pest and other inspections, title matters and more. This agreement is for transactions that do not involve a Broker and where the Buyer is either paying cash or the Seller is financing the purchase with a promissory note, secured by deed of trust or a first mortgage.
This attorney-prepared packet contains:
- Instructions and Checklist for North CarolinaResidential Real Estate Sale Contract (with cash sale or seller financing)
- Information about North Carolina Residential Real Estate Sale Contract (with cash sale or seller financing)
- North Carolina Residential Real Estate Sale Contract (including Earnest Money Receipt)
- Required Megan's Law Notice
- Disclosure Of Information On Lead-Based Paint and/or Lead-Based Paint Hazards
North Carolina Real Estate Contract for Sale - Cash or Seller Financing
Product Details
| Product | North Carolina Real Estate Contract for Sale - Cash or Seller Financing |
| Country | United States |
| Pages | 23 |
| Dimensions | Designed for Letter Size (8.5" x 11") |
| Printer compatibility | Designed to print on all ink-jet and laser printers |
| Editable | Yes (.doc, .wpd and .rtf) |
| Format |
Microsoft Word Adobe PDF Rich Text Format |
| Platform |
Windows Compatible Mac Compatible Linux Compatible |
| Availability | In Stock. Instant Download |
| Usage | Unlimited number of prints |
| Category | Cash or Seller Financing Real Estate Sale Contract |
| Product number | #20912 |
| Download time | Less than 1 minute (approx.) |
| Document Access |
Via secret online address Email with download links Email with attachment upon request |
| Refund Policy | 60 days, no-questions asked, 100% money back guarantee |
Frequently Asked Questions
The contract includes essential elements such as the sale price, financing terms, earnest money receipt, required disclosures (like lead-based paint), and instructions for completing the sale. It serves as a comprehensive document to guide both parties through the transaction.
This contract is specifically designed for transactions that do not involve a broker. If you are working with a real estate agent, it's advisable to use a different form that accommodates broker involvement.
If the buyer is unable to secure financing as outlined in the contract, they may be in breach of contract. The seller may have the right to retain the earnest money or pursue other legal remedies as specified in the agreement.
Yes, this form has been prepared to comply with the laws of North Carolina, ensuring that it meets all legal requirements for real estate transactions within the state.
The contract includes mandatory disclosures such as the Megan's Law notice and information regarding lead-based paint hazards, which are required by federal and state law to protect buyers.
Yes, the contract can be modified as long as both parties agree to the changes. It is recommended to document any modifications in writing to avoid disputes later on.
The earnest money receipt serves as a record of the buyer's deposit, demonstrating their commitment to the purchase. It is typically held in escrow until the closing of the sale.
Yes, seller financing can involve risks for both parties, including the potential for default. It's important for sellers to conduct due diligence on the buyer's financial situation and for buyers to understand the terms of the financing.
Is This Form Right For You?
Use This Form If:
- Individuals who are purchasing a residential property without the involvement of a real estate broker can utilize this contract to ensure that all terms are clearly documented. This form provides a structured approach to outline the agreement between the buyer and seller, protecting both parties' interests.
- Situations requiring seller financing can benefit from this contract, as it includes provisions for a promissory note secured by a deed of trust. This is particularly useful for buyers who may not qualify for traditional financing options but still wish to purchase a home.
- For those looking to document the sale of a home with cash payment, this contract offers a straightforward solution. It ensures that all necessary disclosures, such as lead-based paint hazards, are included, thus complying with state regulations.
- Real estate investors seeking to acquire properties quickly and without broker involvement can use this form to facilitate cash transactions. The contract streamlines the process, allowing for a faster closing while maintaining legal compliance.
- Homeowners selling their property directly to a buyer can use this contract to formalize the sale. By including essential elements like inspections and financing contingencies, the agreement helps mitigate potential disputes.
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Product Laws
Real Estate Laws - North Carolina
State Law Website: www.ncga.state.nc.us/gascripts/Statutes/StatutesTOC.pl
State Real Estate Disclosure Laws: Residential Property Disclosure Statement. (North Carolina General Statutes, Section 47E).
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