A North Carolina residential real estate purchase and sale agreement is used by a potential real estate buyer to give an offer to purchase a residence. The form will contain information about the buyer’s offer, the property, and the seller. In addition to giving their offer, the buyer must explain how they will finance the purchase and when their offer expires. The individual selling the property has the option to accept, refuse, or negotiate the agreement until the expiration date. State law also requires that the buyer is given a property disclosure statement that relays information regarding the residence’s utilities and any property defects or hazards. If the seller accepts the agreement, both parties can sign the contract to make the sale official.
Table of Contents
Realtor Version
North Carolina Association of Realtors – Adobe PDF
Required Disclosures
Lead-Based Paint Disclosure – The sellers of all buildings made prior to 1978 must provide purchasers with a written statement disclosing their knowledge regarding the use of toxic lead-based paint in the building.
Residential Property Disclosure Statement (G.S. 47E-4(b)) – Sellers are required to provide potential buyers with a standardized statement that details the material condition of the property, including the water supply, sewage disposal, heating, and plumbing.
Commercial Property
Commercial Purchase Agreement – Use this document between a buyer and seller to purchase commercial property.
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