North Carolina Commercial Real Estate Purchase and Sale Agreement

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The North Carolina commercial real estate purchase and sale agreement is used by individuals and entities to create a legally binding contract for the purchase of commercial real estate. State laws regarding residential purchase agreements do not apply to commercial property and, therefore, a commercial agreement cannot be used for any transactions that involve residential property. The contract will state the purchase price, financing methods, and payment schedules, as well as any earnest money deposits. Buyers will often request that an inspection of the property be conducted prior to closing (an expense that can be covered by either party, depending on the contract). Once both parties have signed the contract, it becomes binding until the transaction is closed or either party terminates the agreement.

Disclosures

Statement of Agency Relationships (ยง 58A .0104) โ€“ Real estate agents must give their clients a disclosure form that describes the agent’s role in the transaction. For instance, if the agent is representing both the seller and the buyer, they must disclose this fact and all parties must sign in acknowledgment.

Realtor Version

North Carolina Association of Realtors โ€“ Adobe PDF (Sample)

Residential Property

North Carolina Residential Purchase Agreement – Describes the rights and obligations and other terms of a residential property sale between a buyer and seller.

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