Offer to Purchase

Settlement

the seller brings the deed, the buyer brings the money. CLosing attorney settles all the money.

Closing

completion of legal process which results in the transfer of the title to the property from seller to buyer.

attorney closinghs in NC

NC State bar has determined that the performance of most acts and services required for a closing constitutes the practice of law and muct be conducted only be an attorney licensed to practice law in NC.

Special Assessments

A charge against the property by goverment authroity in addition to ad valorem taxes.

Fixtures and Exclusions

parties should not assume that an itme will or wi ll not be included in the sale based on a statement or advertisement outside this contract.

Fixtures

all existing fixtures are included in sale as part of purchase price, free of liens, unless excluded.

Buyer due diligence process

buyer is strongly encoruaged to conduct due diligence during the DD period. If

Repair/IMprovement Negotiations/Agreement

buyer acknoloedges that the parties agree that it is sold in its current condition.

BUyers obligation to repair damage

if property is inspected for buyer and damage occurs, buyer has to pay to fix property.

buyers right to terminate

buyer has right to terminate contract, as long as they have sent due diligence fee. Time is of the essense. If buyer timely delivers the termination notice, contract shall be terminated.

access to property

seller shall provide reasonable access to the property/

condition of property at settlement

if house is not in same or better condition, buyer can get DD and EM.

delay in settlement/closing

must complete within 7 days of settlement date, including any date agreed to . Non-delayed party may be able to terminate the contract.

entire agreement/recordation

this contract contains the entire agreement. anything outside of this contract, it does not count.