North Carolina Purchase and Sale Agreement Form

The following form can be used for buying or selling a property in the State of North Carolina. A real estate agent might be required for using this form.

Extracted Text for Proper Search

OFFER TO PU	RC	HA	SE 	AN	D CON	TRACT 	
 	
____	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	, as Bu	yer	, 	
hereby offers to	 purchase an	d __	___	___	____	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	_, as Seller	, 	
upon acce	ptance of said offe	r, agrees t	o sell 	and convey, all	 of that 	plot, pi	ece 	or parcel of 	land desc	ribe	d below, 	
toget	her wi	th all im	provem	ents locat	ed thereon an	d suc	h fixtures a	nd pers	onal prope	rty as	 are l	isted bel	ow 	
(co	llectiv	ely referred to	 as th	e “Prop	erty”), up	on	 the follow	ing term	s an	d co	nd	itio	ns:  	
 
1. REAL	 PR	OPERTY	: Lo	cated	 in	 the City o	f ___	___	___	__	___	___	___	___	___	___	___	___	___	___	___	___	___	___	_, 	
Co	un	ty 	of ____	___	___	___	___	___	___	___	___	___	___	___	, State 	of No	rth Car	olin	a, b	eing	 know	n as 	and	 m	ore 	
part	icularly de	scri	bed as:	 	
Str	eet Add	ress_	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	_ Zip__	___	___	__	  	
Leg	al D	escr	iptio	n:___	___	____	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	__  	
(	All 	A portio	n o	f the p	rop	erty in Deed 	Ref	eren	ce: 	Book	____	___	__, Pag	e No.___	___	__, ____	___	___	_Co	unty.)	  	
NOTE: 	Pri	or to signi	ng this Of	fer	 to Pu	rch	ase an	d C	ontract, Buy	er is ad	vised	 to revi	ew Rest	rictive Co	vena	nts, if 	
any, which	 m	ay li	mit th	e u	se of th	e Pro	perty, and	 to read the Declaration 	of Restri	ctive C	ove	nants, By	-Laws,	 	
art	icles of	 Incorporat	ion, Rul	es an	d Re	gul	ations	, and other	 go	verni	ng documents of t	he ow	ners’ 	asso	ciation a	nd/	or 	
the su	bd	ivision, if app	licab	le. 	 	
2. FI	XTURE	S: Th	e follow	ing	 item	s, if an	y, are i	nclud	ed in	 th	e pu	rch	ase 	price 	free of lien	s: an	y bu	ilt-in app	lian	ces, 	
light	 fixtures, c	eiling fa	ns,	 attached	 floo	r c	overings, blinds,	 sha	des, 	drape	ry ro	ds a	nd c	urtain r	ods, 	brack	ets an	d al	l 	
related	 hardware, 	windo	w and	 door screen	s, sto	rm wind	ows,	 co	mbinatio	n doors, awn	ing	s, an	ten	nas, satellite d	ishes 	
and recei	vers	, burglar/fire/smoke	 alarm	s, pool and 	spa	 equi	pm	ent, solar 	energy	 system	s, attached 	fire	place scree	ns, 	
gas l	ogs	, firepl	ace inserts	, ele	ctric garage	 door ope	ners	 wi	th controls, out	door 	plants 	and trees	 (othe	r than in 	
movabl	e co	ntainers	), bas	ketball goal	s, storage she	ds, m	ailboxe	s, wal	l an	d/or door m	irro	rs, an	d a	ny other items 	
attached 	or affixed to t	he Proper	ty, EX	CEPT 	the fo	llow	ing	 items: 	
____	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	__ 	
____	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	__	.  	
3. PERS	ONAL 	PROPERT	Y: The	 followi	ng	 pe	rsonal	 prope	rty is included in the pu	rchase 	pri	ce:	________	______	_  	
____	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	__	.  	
4. PURCHAS	E PRI	CE: 	The pu	rchase 	price is $__	___	____	___	___	___	___	___	___	___	___	___	___	___	_ and sh	all b	e 	
paid as fo	llow	s: 	
(a) $___	___	___	___	___	___	___	___	__	, EA	RN	EST 	MON	EY DEPO	SIT with	 this o	ffer by 	cash 	persona	l check 	
ban	k check 	certified chec	k 	other: __	___	____	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	 to b	e 	
depo	sited and	 held in escr	ow	 by ___	___	____	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	 (“Escrow	 	
Agent”) un	til th	e sale is cl	osed, at 	wh	ich	 time it w	ill b	e cred	ited	 to Bu	yer, or 	until th	is con	tract is 	otherw	ise 	
terminated. 	In the event: 	(1) t	his offer 	is not 	accepted; or 	(2) an	y of t	he conditions hereto 	are 	not satisfied, t	hen all 	
earnest m	onies	 shall 	be re	funded to B	uyer. In the eve	nt of breac	h of this cont	ract b	y Seller	, up	on	 Bu	yer’	s requ	est, all 	
earnest m	onies	 shall 	be ret	urned to Buyer, 	but s	uch return	 shall not affect 	any ot	her rem	edies a	vailable to B	uyer 	for 	
suc	h breac	h. In the e	vent t	his offer 	is accepte	d a	nd Buyer breaches t	his contr	act, the	n all e	arnest m	onies 	shall be	 	
forfeited upon 	Seller’s 	reques	t, but recei	pt of suc	h forfeited 	earnest m	onies	 shall 	not a	ffec	t any ot	her rem	edies 	
available to Se	ller for s	uch breach.  	
NOTE: 	In the event	 of a dispute bet	ween	 Se	ller an	d Buy	er ove	r the ret	urn or forfeiture of ear	nest	 m	oney	 hel	d in 	
escrow by 	a broke	r, the broke	r is requir	ed by state law	 to ret	ain said earn	est money in	 the brok	er’s tru	st or escrow	 	
account until 	a written release from	 the 	parties consenting to its disposition 	has 	been obtai	ned 	or until 	disbursem	ent 	
is o	rdered b	y a cou	rt of co	mpeten	t ju	risd	ictio	n. 	
(b)	 $__	___	____	___	___	__	, AD	DI	TION	AL 	EA	RNEST M	ONEY DEPOSI	T t	o be paid to Escr	ow	 Ag	ent no	 later th	an 	
____	___	___	___	___	___	__	, TIME BEIN	G OF THE ESSENCE 	WITH REG	ARD TO	 SAI	D DA	TE.  	
(c) 	$____________	_____, OPTION FEE in accorda	nce 	with pa	ragra	ph 13, 	Alternative 	2, 	to be paid 	to Seller on 	the 	
Effectiv	e D	ate as set fo	rth in 	parag	raph	 23. (N	OTE: If alte	rnative 2 	appl	ies, then do not	 insert	 $0, N/	A, or	 leave 	
blank.) 	
(d)	 $__	___	____	___	___	__	, BY	 ASSU	MPTIO	N of	 the 	unpaid	 pr	incipal balan	ce an	d all o	blig	ation	s of	 Seller	 on	 the 	
existing loa	n(s) sec	ured by a 	deed of 	trust 	on the	 Proper	ty in 	accordance	 with the	 attached Loa	n Ass	umption 	
Ad	dend	um	.  	
(e) 	$____________	_____, B	Y SE	LLER 	FINANCING in 	accorda	nce 	with the	 attache	d Seller Fina	ncing 	Adde	ndum	.  	
(f) $___	___	___	___	___	__	, BA	LAN	CE of the purchase 	price in	 cash	 at Cl	osing	.  	
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STA	NDA	RD	 FORM	 2-T 	
Bu	yer 	Initials 	____	 ____	    Seller In	itials ___	_ ___	_

5. CO	NDITI	ONS	: (State N/A	 in	 each	 blank	 th	at is no	t a co	nd	itio	n to	 this con	tract.) 	
(a) Buyer m	ust b	e ab	le to ob	tain	 a 	FHA 	VA	 (attach FH	A/	VA Fi	nanci	ng Adde	ndum	) 	Co	nv	ention	al 	
Other: ___	____	___	___	___	___	___	_ lo	an at a 	Fixed Rat	e 	Adjustab	le Rate i	n th	e prin	cipal amount of  	
____	___	___	___	___	___	___	___	___	___	 (plus any f	inanced VA	 Fun	ding Fee or	 FH	A MI	P) for a ter	m of 	
____	___	___	_ year(s), at an	 initial in	terest rate n	ot to ex	ceed	 ____	___	___	__	 % 	per annu	m, with	 m	ortg	age lo	an 	
discoun	t po	ints no	t to	 ex	ceed	 ____	__	 % 	of the lo	an am	ount. Bu	yer 	shall ap	ply for sai	d loan	 with	in __	___	___	 days 	of 	
the Effectiv	e Date o	f th	is con	tract. Bu	yer sh	all u	se Bu	yer’s	 best efforts t	o secure	 the le	nde	r’s 	cust	om	ary loan 	
commit	ment letter on	 or before __	___	___	___	___	___	___	___	___	___	___	__ and	 to satisfy 	all ter	ms an	d co	nd	itio	ns 	of 	
the lo	an co	mmit	ment letter b	y Clo	sing	. After th	e ab	ov	e le	tter 	date, Seller may requ	est in writin	g fro	m Bu	yer a co	py 	
of th	e loan commi	tment let	ter. If Bu	yer fails to	 prov	ide Seller a cop	y of the lo	an co	mm	itment letter o	r a written	 	
waiver 	of t	his l	oan condition 	within five 	day	s of 	receipt of Seller’s requ	est, Seller m	ay te	rm	inate this contract 	by 	
written 	notice to B	uyer at any 	tim	e thereafter, prov	ided Seller has not 	then 	receive	d a copy	 of the letter or the 	
wai	ver. 	
(b)	 There m	ust be 	no 	restriction, easem	ent, zoning or 	other go	vernmental regu	latio	n th	at would prev	ent the 	
reason	able use o	f the Pro	perty for __	___	____	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	 purposes. 	 	
(c) 	Th	e Prop	ert	y must b	e in sub	stan	tially th	e sam	e or better 	cond	itio	n at Clo	sing	 as on	 the d	ate of th	is offer 	
reasona	ble wea	r and tear e	xcepted.  	
(d)	 Al	l deed	s of trust	, liens an	d other c	harges	 agai	nst the Prope	rty, not	 as	sumed by	 Buy	er, m	ust be 	pai	d an	d sat	isfied 	
by Seller 	prior to or at Closing	 su	ch th	at cancellatio	n m	ay be promptly o	btain	ed follow	ing	 Clo	sing. Sell	er sh	all 	
rem	ain oblig	ated to ob	tain any su	ch can	cellatio	ns follow	ing Clo	sing	.  	
(e) 	Title 	must be deliv	ered	 at Clo	sing by GENERAL W	ARRANTY DEED	 unless 	otherw	ise 	stated	 herein	, and must 	
be fee sim	ple mark	etab	le an	d in	surab	le title, free of all en	cumbran	ces ex	cep	t: ad	 valorem	 tax	es fo	r th	e curren	t year 	
(prorated th	roug	h th	e date of Clo	sing); 	utilit	y easem	ents an	d unviolated	 restrictiv	e cov	enan	ts th	at do	 not m	aterially 	
affect the 	value of the	 Property; and s	uch other enc	umbrances as m	ay be assum	ed o	r specifical	ly appr	oved by	 Buyer. 	
The 	Prope	rty 	must have lega	l access to a	 public right 	of wa	y. 	
6. SPECI	AL ASSES	SME	NTS: 	Seller wa	rrants t	hat the	re are 	no 	pend	ing or co	nfi	rmed g	ove	rnmental speci	al 	
assessm	ent	s fo	r si	dewal	k, pav	ing,	 wat	er, se	wer, or ot	her	 improvem	ent	s on	 or adjoining the Pr	opert	y, and no pen	ding 	
or con	firmed ow	ners’ asso	ciatio	n special assessm	ents, ex	cep	t as 	follow	s: __	___	___	___	___	___	___	___	___	___	___	__  	
____	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	__	.  	
(In	sert “No	ne” or th	e id	entificatio	n of su	ch assessm	ents, if	 any.) Seller shall p	ay all ow	ners’ associatio	n assessm	ents 	
and all go	vernmen	tal assessmen	ts con	firm	ed thro	ugh	 th	e time of Clo	sing	, if an	y, an	d Bu	yer sh	all take title su	bject to	 	
all p	end	ing	 assessm	ents, if	 any, un	less 	otherw	ise ag	reed as 	follow	s: ____	__	___	___	___	___	___	___	___	___	___	___	__	  	
____	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	__	.  	
7. PRORA	TION	S AND	 AD	JU	STM	ENTS:	 Unless o	therw	ise 	prov	ided, the follow	ing	 item	s sh	all be prorated	 and	 	
eith	er ad	justed	 betw	een	 th	e parties or 	paid at 	Clo	sing: (a) Ad	 valorem	 tax	es on	 real pr	ope	rty shall be	 prorated 	on a 	
cal	enda	r y	ear	 basis through t	he dat	e of Cl	osi	ng;	 (b) Ad val	orem	 taxes on	 perso	nal propert	y fo	r the ent	ire year s	hall 	
be paid by the 	Seller un	less t	he p	erson	al prop	erty is co	nv	eyed to th	e B	uyer, in	 wh	ich	 case, the pe	rsonal property 	
tax	es sh	all b	e prorated	 on	 a calen	dar year 	basis th	rough	 th	e date of Closing; (c) 	All late listin	g penalties, i	f an	y, sh	all 	
be 	pai	d by	 Sel	ler;	 (d) Rent	s, if any	, for the P	rope	rty shal	l be 	prorat	ed through the dat	e of Closi	ng;	 (e)	 Owners’	 	
associ	ation dues an	d other like cha	rges	 shall be 	prorat	ed through	 th	e d	ate of Clo	sing. Sell	er represen	ts that th	e 	
regu	lar	 ow	ners’ asso	ciatio	n du	es, if	 an	y, ar	e $___	___	___	___	___	 per ___	_____	___	___	___	_.  	
8. E	XPE	NSE	S: Buyer sh	all 	be respon	sib	le for all costs w	ith resp	ect to any lo	an ob	tain	ed by Bu	yer. B	uyer sh	all 	pay 	
for recordi	ng the deed 	and for pre	para	tion	 an	d reco	rding	 of all in	stru	ments req	uired to	 secu	re th	e balan	ce of th	e 	
purchase 	pri	ce 	unpai	d at Cl	osi	ng. Sel	ler shal	l pay	 for pre	paration 	of a deed	 an	d al	l ot	her	 docum	ents nece	ssary	 to 	
perform	 Seller’s ob	lig	ation	s un	der this agreemen	t, and	 for 	excise t	ax (reve	nue	 stam	ps) re	qui	red	 by	 law. 	Sel	ler shal	l 	
pay at clo	sing $___	___	___	___	___	___	___	_ to	ward an	y of	 the Bu	yer	’s expen	ses asso	ciated	 with	 th	e pur	chase 	of th	e 	
Prop	erty, in	clud	ing	 an	y FH	A/VA lend	er and	 inspection	 co	sts th	at Bu	yer is 	not perm	itted	 to	 pay, but ex	cluding an	y 	
po	rtion disap	prove	d by	 Buyer’s lender.  	
9. FUEL: 	Bu	yer ag	rees to	 purch	ase fro	m Seller th	e fu	el, if 	any, situ	ated	 in an	y tank	 on	 the Prop	erty at the prev	ailing	 	
rate w	ith th	e co	st of m	easu	remen	t th	ereof, i	f an	y, being	 paid by Seller.  	
10. EVIDE	NCE OF TITLE: 	Seller ag	rees to	 use his best ef	forts to	 deliv	er to Bu	yer a	s so	on	 as	 reason	ably po	ssible 	
after th	e Effect	ive D	ate of th	is con	tract, cop	ies of all title in	form	atio	n in	 possession	 of or av	ailab	le to Seller, 	
inclu	ding bu	t no	t li	mited	 to	: title in	suran	ce po	licies, atto	rney’s op	inions 	on	 title, surveys, cov	enants, d	eeds, no	tes 	
and d	eeds of tru	st an	d easem	ents relating	 to the Pro	perty. Se	ller au	tho	rizes 	(1) an	y atto	rney p	resen	tly or 	previou	sly 	
represen	tin	g Seller to	 release 	and d	iscl	ose any title in	suran	ce po	licy in	 su	ch attorn	ey's file to	 Buyer an	d both Buyer's 	
and Seller's agen	ts an	d atto	rneys; an	d (2	) the Prop	erty’s title 	insurer or its ag	ent to	 release and	 disclo	se 	all 	materials 	
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STA	NDA	RD	 FORM	 2-T 	
Bu	yer 	Initials 	____	 ____	    Seller In	itials ___	_ ___	_

in th	e Prop	erty's title in	surer's (or title	 in	surer's ag	ent's) file to	 Buyer an	d both	 Bu	yer's an	d Seller's ag	ents and 	
atto	rneys. 	
11. LA	BOR AN	D MATERIAL: 	Seller sh	all fu	rnish	 at Cl	osing	 an	 affi	davit and	 ind	emnificatio	n ag	reemen	t in	 fo	rm	 	
satisfacto	ry t	o Bu	yer sho	wing th	at all labo	r an	d m	aterials, if	 an	y, furnish	ed to	 th	e Prop	ert	y with	in 12	0 days p	rior to	 	
the dat	e of Cl	osing ha	ve 	bee	n pai	d for an	d a	greei	ng to inde	mnify Buy	er agai	nst	 all loss f	rom	 any	 cause	 or claim	 	
arisin	g th	ere fro	m. 	
12. PROPE	RTY DISCLOSURE	:  	
Buy	er has 	rece	ived a	 signed copy	 of the N.C. Resi	dential Pro	perty D	isclosu	re Statem	ent prior to th	e sign	ing	 of 	
this O	ffe	r to	 Purchase a	nd C	ont	ract.  	
Buyer 	has 	NOT received a si	gne	d c	opy of t	he N.C. Reside	ntial Prope	rty 	Disclos	ure State	ment pri	or to the signing 	
of this Of	fer	 to Pu	rchase a	nd Cont	ract	 and s	hall ha	ve t	he ri	ght to term	inate or 	with	draw th	is co	ntract 	withou	t p	enalty 	
prior to WHICHEVER OF TH	E FO	LLOW	IN	G EVENTS 	OCCU	RS 	FIR	ST: (1	) th	e end of th	e th	ird	 cal	endar day 	
following recei	pt 	of 	the Disclosure St	ate	ment; (2) the e	nd of the	 third cale	nda	r day following the	 date	 the c	ont	ract 	
was m	ade;	 or	 (3) Cl	osi	ng or occupa	ncy	 by the Buy	er in the case o	f a sal	e or excha	nge.  	
Exem	pt from	 N.C. Resi	dential Pr	ope	rty Di	sclosure St	atem	ent	 beca	use	 (S	EE G	UIDE	LINES	)  	
____	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	.  	
The 	Property is resi	dential and 	was 	bu	ilt pri	or to 1978 (A	ttach Lead-Based Pai	nt or 	Lead-Based Paint 	Hazards 	
Disclos	ure Adden	dum.)  	
13. PR	OPERT	Y IN	SPEC	TION, AP	PR	AISAL, INVESTIGATIO	N (Choose	 O	NLY O	NE of th	e fol	lowing 	
Alternati	ves): 	 	
ALTERNATIVE 1: 	 	
(a) Pr	oper	ty Inspecti	on: Un	less o	therw	ise stated	 herein	, B	uyer sh	all h	ave th	e option	 of i	nspectin	g, or ob	tain	ing	 at 	
Bu	yer’s exp	ense in	spectio	ns, 	to determ	ine th	e con	dition	 of the Pro	perty. Un	less 	otherw	ise stated	 herei	n, it is a 	
cond	itio	n of t	his con	tract th	at: (i) th	e bu	ilt-in app	lian	ces, electrical syste	m, p	lumbing system	, h	eatin	g an	d coo	lin	g 	
syste	ms, roof c	ove	rings 	(incl	uding 	flashing a	nd gutters	), doors	 an	d windows, 	exteri	or 	surfaces	, structural 	
com	pone	nts (i	ncluding 	foundations, col	umns, c	him	neys, 	floors, walls, ceilings a	nd roofs	), porc	hes a	nd decks, 	
fireplaces and 	flues, crawl sp	ace and attic ventilation system	s (if any), 	wate	r and sewer sy	ste	ms (public 	and private), 	
shall b	e perfo	rmin	g th	e function fo	r wh	ich inten	ded an	d sh	all n	ot be in 	need of immed	iate	 rep	air; (ii) th	ere sh	all 	be 	
no unu	sual drain	age con	dition	s or ev	idence 	of ex	cessiv	e m	oistu	re adv	ersely affecting	 th	e stru	cture(s); an	d (iii) th	ere 	
shall b	e no	 friab	le asb	esto	s or 	existin	g env	iron	mental c	ontamin	atio	n. Any inspection	s shall b	e co	mpleted	 an	d written	 	
not	ice 	of nece	ssary	 re	pai	rs sh	all be gi	ven t	o Sel	ler o	n or be	fore 	__	___________	______	_________. Sel	ler s	hall 	
prov	ide written no	tice to	 Buyer 	of Seller’s resp	on	se w	ith	in __	___	__ days 	of Bu	yer’s no	tice. Bu	yer is ad	vised	 to 	
have an	y i	nspectio	ns m	ade prio	r to in	curring exp	enses 	for 	Clo	sing and	 in sufficien	t tim	e to perm	it an	y req	uired 	
repai	rs to be	 co	mpleted by	 Cl	osi	ng.  	
(b) Wood-Des	troying Ins	ects: 	Unless o	therw	ise stated	 herein	, B	uyer sh	all h	ave th	e op	tio	n of 	ob	tain	ing, at Bu	yer’s 	
expe	nse	, a report 	from	 a lice	nsed pest 	control ope	rator on 	a standard 	form	 in accorda	nce with t	he regulations 	of t	he 	
North Caro	lin	a Stru	ctu	ral Pest	 Con	trol Commit	tee, statin	g that as to all st	ructur	es, ex	cep	t __	___	___	____	___	___	___	, 	
there was n	o vi	sible evi	dence	 of	 wood-destroying 	insect	s and cont	aining no indicat	ion of vi	sible dam	age 	there	 from	. 	
Th	e report m	ust b	e obtained in	 su	fficien	t time so as to p	erm	it treat	ment, if 	any, an	d rep	airs, if an	y, t	o be completed	 	
pri	or to Cl	osi	ng. 	Al	l treat	ment req	uired shall be 	pai	d for by	 Sel	ler an	d c	ompleted pri	or to Closi	ng, unl	ess	 ot	herwise 	
agreed	 up	on	 in writing	 by th	e parties. 	Th	e Buyer is adv	ised	 that th	e inspectio	n repo	rt describ	ed in th	is p	arag	raph	 	
may not	 alway	s re	veal	 either struct	ural dam	age 	or dam	age 	cause	d by	 age	nts or	 organi	sm	s ot	her than wood	-	
destro	yin	g in	sects. If 	new constru	ction	, Seller sh	all pr	ov	ide a stand	ard warran	ty 	of term	ite so	il treatm	ent.  	
(c) Rep	airs:	 Purs	uant to a	ny inspections i	n (a) a	nd/	or 	(b) a	bove,	 if a	ny re	pairs a	re neces	sary, Seller sha	ll have t	he 	
option	 of co	mpletin	g th	em	 or refu	sing	 to com	plete th	em	. If Seller elects 	no	t to	 co	mplete th	e rep	airs, th	en Buyer sh	all 	
have 	the option of 	accepting the 	Property in its present c	ondition 	or term	inating this 	contract, 	in which case 	all 	
earn	est m	onies sh	all 	be refu	nd	ed. 	Unless	 otherw	ise stated 	herei	n, an	y item	s not cov	ered 	by (a)(i), (a)(ii), (a)(iii) 	and	 	
(b) a	bove a	re e	xcluded from	 repair 	negotiatio	ns und	er th	is contract.  	
(d) Ra	do	n In	spect	ion	: Buy	er shal	l have	 the opt	ion, at Buy	er's expe	nse	, to have	 the Property tested f	or ra	do	n on or 	
before th	e date fo	r co	mpletio	n of in	spectio	ns as set 	forth in p	aragraph	 13	 (a) ab	ov	e. Th	e test resu	lt sh	all 	be deem	ed 	
satisfacto	ry t	o Bu	yer if it in	dicates a rad	on level of less th	an 4.0 pico curies p	er liter 	of air 	(as o	f Ja	nuary	 1, 19	97	, 	
EPA 	guideline	s reflect an "acceptable" le	vel as 	anyt	hing less 	than 4.0 pico 	curies per liter 	of 	air	). If th	e test 	
resu	lt ex	ceed	s the abov	e-m	entio	ned lev	el, Seller sh	all 	have the o	ption	 of: a) 	rem	ediatin	g to	 bring	 radon	 lev	el with	in 	
the sat	isfact	ory ra	nge;	 or b) refusi	ng	 to rem	ediate. U	pon	 the com	pletion of 	rem	ediation, B	uyer m	ay have 	a ra	do	n t	est 	
perform	ed at Seller's ex	pense, and	 if th	e test 	resu	lt ind	icates	 a rado	n lev	el less th	an 4.0 pico cu	ries 	per liter of air, it 	
shall b	e deem	ed satisfact	ory t	o th	e Bu	yer. 	If Seller elects not to	 rem	ediate, o	r if 	rem	ediati	on is attem	pted	 bu	t fails to 	
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Bu	yer 	Initials 	____	 ____	    Seller In	itials ___	_ ___	_

bring th	e radon lev	el w	ith	in the satisf	acto	ry ran	ge, Bu	yer	 shall h	ave the op	tio	n of: a)	 accep	tin	g th	e Prop	erty w	ith	 its 	
then c	urre	nt ra	do	n l	evel	; or  	
b) term	inatin	g the con	tract, in wh	ich	 case	 all earnest m	onies shall 	be 	refunded.  	
(e) Cost 	Of Re	pair Contin	gency: 	Notwithst	andi	ng	 the a	bove a	nd as a	n additional	 rem	edy	 of	 Buy	er, if a reas	ona	ble 	
est	imate obt	ained 	by	 Buy	er of the total cost of re	pai	rs re	quired 	by	 (a	) a	nd (b) an	d/or rem	ediation 	requi	red by	 (d) 	
above e	quals 	or e	xceeds	 $__	______________	__, the	n Buyer s	hall ha	ve t	he op	tion to te	rminate this c	ont	ract 	
pursuant	 to the Cost	 of Repai	r Co	ntinge	ncy	 no later than se	ven day	s following t	he inspect	ion dat	e and al	l earnest	 	
moni	es shal	l be ref	unde	d t	o Buy	er.  	
(f) Appr	aisal 	Contin	genc	y: The Prope	rty m	ust appraise at 	a value 	equa	l to or e	xcee	ding the 	purc	has	e price or, at	 	
the op	tion	 of Bu	yer, th	is co	ntract 	may b	e termin	ated	 and	 all earn	est m	onies sh	all 	be refu	nd	ed to	 Buyer. If th	is 	
cont	ract	 is not sub	ject	 to a financi	ng c	ont	ingency	 re	quiring an a	ppraisal	, Buyer shall ar	range	 to have t	he ap	prai	sal	 	
completed	 on	 or before __	___	___	___	___	___	___	___	___	___	. Th	e co	st of the ap	praisal shall b	e bor	ne b	y Bu	yer	.  	
(g) 	CLOSING SHALL CONSTITUTE 	ACCEPTANCE	 OF THE PROPERTY	 IN IT	S THEN E	XISTING 	
CO	NDITI	ON	 UNLES	S P	ROVIS	IO	N IS	 OTHERW	ISE M	ADE I	N WRITI	NG.	 	
 	
ALTERNATIVE 2: 	(This Alterna	tive app	lies ON	LY if Alterna	tive 	2 is c	hecke	d AND Buyer has 	pai	d the 	
Option Fee.)	 	
(a) Pr	oper	ty Inves	tigati	on w	ith O	ptio	n to Terminate	: In co	nsi	deration of the s	um of 	$______________	_____ (do 	
not 	insert	 $0	, N/	A, or leave blank) pai	d by	 Buy	er to Sel	ler (not	 Escrow	 Agent	) and ot	her	 val	uable consi	derat	ion, the 	
receipt a	nd sufficiency of 	whi	ch is 	here	by ac	knowledged (t	he “	Option 	Fee	”), B	uyer s	hall 	have	 the 	right t	o term	inate 	
this contract 	for an	y re	ason	 or no	 rea	son, w	hether	 relate	d to the physic	al 	condi	tion of 	the Pr	oper	ty 	or 	
otherwise, 	by 	deliveri	ng to 	Seller written noti	ce of term	ination 	(the “Term	ination 	Notice”) 	by 5:	00 p.m	. on 	
____	___	___	___	___	___	___	___	___	___	__	, 20_	___	, time bei	ng of 	the 	essence 	(the “O	ption Te	rm	ination 	Dat	e”).	 At	 	
any ti	me prior 	to Clo	sing	, Buyer sh	all 	have the righ	t to	 inspect the Propert	y at Buyer’s	 expense (B	uyer i	s advised to 	
have all in	spectio	ns and	 ap	praisals o	f th	e Prop	erty, i	nclud	ing	 but no	t limite	d to tho	se m	atters set 	forth in	 Altern	ativ	e 	
1, 	perform	ed p	rior to the Opt	ion	 Term	ination 	Dat	e).  	
(b) Exercise 	of Option: 	If B	uyer 	deliv	ers t	he Term	inatio	n No	tice prio	r to th	e Option	 Termin	atio	n Date, 	time b	eing	 	
of the esse	nce	, this c	ontract	 shall bec	ome null and 	void 	and all 	earnest	 m	onies recei	ved i	n connection 	herewith shall 	
be refu	nd	ed to 	Bu	yer; how	ever, t	he Option	 Fee w	ill no	t be refund	ed and	 shall b	e retain	ed by Seller. If B	uyer 	fails to	 	
deliv	er th	e Termin	atio	n No	tice to	 Seller prior to th	e Op	tio	n Term	inatio	n Date, th	en Bu	yer w	ill b	e deem	ed to h	ave 	
accepted the 	Property in its 	physical co	ndition existing as 	of th	e Option 	Termination Date, excluding m	atters of 	
survey. 	Th	e Op	tio	n Fee is not refu	nd	able, is no	t a 	part of an	y earn	est m	onies, and	 will b	e cred	ited	 to th	e pu	rch	ase 	
pri	ce at	 Cl	osi	ng. 	
(c) 	CLOSING SHALL CONSTITUTE ACCEPTANCE	 OF	 THE PROPERTY 	IN IT	S THEN E	XISTING 	
CO	NDITI	ON	 UNLES	S P	ROVIS	IO	N IS	 OTHERW	ISE M	ADE I	N WRITI	NG.	 	
 
14. REASONABLE 	ACCE	SS: 	Seller 	will provide 	reasonable access t	o the Property (including	 working, 	existing 	
utilities) th	roug	h th	e earlier 	of Clo	sing or	 possession	 by Buyer, to Bu	yer or Bu	yer’s rep	resen	tativ	es 	for t	he purposes 	
of app	raisal, insp	ection	, and	/or ev	alu	ation	. Buyer m	ay co	ndu	ct a 	walk-th	rou	gh	 inspectio	n of th	e Pro	perty prio	r to	 	
Closing.  
 
15	. CLOSI	NG: Clo	sing sh	all 	be defined as t	he date and	 time of record	ing of th	e deed. All p	arties ag	ree to	 ex	ecu	te 	
any and	 all 	do	cuments an	d p	apers n	ecessary 	in conn	ection	 with	 Clo	sing an	d tran	sfer 	of title o	n or before 	
_____________	_______________	___, at a	 place de	signated 	by Buyer.	 The dee	d is t	o be 	made to 	
____	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	_.  	
 
16. P	OSSES	SION: 	Unless oth	erw	ise pro	vided h	erein, 	possessio	n sh	all be d	eliv	ered at 	Clo	sing. In th	e ev	ent 	
pos	sessi	on is NOT	 to be	 del	ivere	d at	 Cl	osing: 	a Buyer Possession Before 	Closin	g Agree	ment is attached. 	OR,  	
a Seller Po	ssessio	n After Closin	g Ag	reem	ent is attach	ed.  	
 
17	. OT	HER P	ROVISI	ONS AN	D CO	NDITIONS	: (IT	EMIZE ALL A	DDE	NDA TO THI	S CO	NTR	ACT AN	D 	
ATT	ACH HE	RETO.	)  	
 
18. RISK	 OF	 LOSS: 	The ri	sk of loss 	or damage by	 fire 	or ot	her cas	ual	ty pri	or to Cl	osi	ng s	hall be	 upon	 Sel	ler. If the 	
im	pro	vem	ent	s on	 the Propert	y are 	dest	royed or m	aterially dam	aged 	pri	or to Cl	osi	ng, Buyer m	ay terminate this 	
contract b	y written	 no	tice d	elivered	 to Seller 	or Seller’s ag	ent and	 all 	deposits sh	all b	e ret	urned to Bu	yer. In	 the 	
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Bu	yer 	Initials 	____	 ____	    Seller In	itials ___	_ ___	_

event B	uyer 	does NOT elect t	o term	inate 	this contract, B	uyer shall be entitled to	 receive, in 	additio	n to the Property, 	
any of t	he Sell	er’s	 ins	urance 	procee	ds 	payable on acc	ount	 of th	e damage or destruction	 applicab	le to	 the Pro	perty 	
bei	ng pu	rchase	d. 	 	
 
19. ASSI	GNMENTS	: Th	is con	tract m	ay not be assign	ed with	ou	t th	e written	 con	sent of all p	arties, 	but if assi	gned 	
by agreem	ent, then t	his c	ont	ract shall be	 bi	nding 	on the a	ssignee a	nd his 	heirs and 	succes	sors	.  	
 
20	. P	ARTIE	S: This cont	ract	 shal	l be	 bi	ndi	ng up	on and shall inure	 to the ben	efit 	of the parties, i.e., Bu	yer an	d Seller 	
and their hei	rs, succes	sors a	nd assi	gns	. As 	used 	herei	n, wo	rds i	n the	 singul	ar incl	ude	 the 	plural and t	he masculine 	
include	s the fe	minine an	d neuter 	gende	rs, as ap	propriate.  	
 
21	. S	URVI	VAL: If any provi	sion	 he	rei	n contained 	whi	ch by its nat	ure and effect	 is re	qui	red t	o be	 observed, 	kept or 	
perform	ed after th	e Clo	sing	, it sh	all surv	ive the Clo	sing a	nd rem	ain bind	ing	 upon	 an	d fo	r the b	enefit of t	he parties 	
heret	o until fu	lly o	bserv	ed, kept or 	perfo	rm	ed.  	
 
22. ENTIRE 	AGREEM	ENT: 	This contra	ct contai	ns the	 entire a	greem	ent of t	he partie	s and t	here a	re no 	
represen	tatio	ns, ind	ucem	ents or other prov	isio	ns other than th	ose ex	pressed	 herei	n. All ch	ang	es, ad	dition	s or 	
del	etions	 he	ret	o m	ust be i	n writing a	nd si	gned by	 all pa	rties. N	othing c	ont	ained 	herei	n shall alter any	 ag	reem	ent	 	
bet	ween a RE	ALT	OR® 	or broker an	d Sel	ler or B	uyer a	s cont	ained i	n any listing ag	ree	ment	, buyer a	gency	 	
agreem	ent, or 	any ot	her age	ncy agreem	ent between t	hem	.  	
 
23	. NOTI	CE AN	D EXEC	UTION:	 Any no	tice or c	ommunicat	ion t	o be 	given t	o a part	y herei	n m	ay be gi	ven t	o the 	
part	y or t	o such part	y’s age	nt. This offe	r shall becom	e a bi	nding c	ont	ract	 (the “E	ffect	ive Dat	e”) 	when signe	d by	 bot	h 	
Bu	yer an	d Seller an	d su	ch sign	ing	 is co	mm	unicated	 to th	e o	ffe	ring part	y. This cont	ract	 is execut	ed un	der seal	 in 	
sig	ned m	ultip	le orig	inals, all 	of wh	ich tog	ether con	stitu	te one and	 the same in	stru	ment, w	ith	 a sign	ed original being	 	
ret	ained by	 eac	h part	y and eac	h RE	ALT	OR®	 or broke	r here	to, and the parties ad	opt	 the word “SEA	L” 	beside t	heir 	
signat	ures	 bel	ow.  	
 
Buyer ack	now	ledges ha	ving made	 an	 on-si	te pers	on	al exami	nati	on of	 the Pr	opert	y p	rior to the ma	king of	 this 	
offer.	 	
 
TH	E NO	RTH 	CA	RO	LINA	 ASSO	CI	ATIO	N O	F REALTORS®, 	INC. AN	D THE 	NORTH	 CA	RO	LINA	 BA	R 	
ASS	OCIAT	IO	N M	AKE	 NO REPRESE	NTATION AS T	O THE LEG	AL VALIDITY OR A	DEQUA	CY O	F AN	Y 	
PRO	VISION OF THI	S FO	RM I	N ANY	 SPECI	FIC TRANSA	CTION	. IF YOU DO	 NOT UN	DERSTA	ND	 THI	S 	
FORM	 OR FE	EL T	HAT	 IT	 DOE	S NO	T P	ROV	IDE	 FOR YOUR 	LEG	AL NE	ED	S, 	YO	U S	HOUL	D C	ONSUL	T A 	
NORT	H CAROLINA RE	AL	 EST	ATE 	AT	TORN	EY B	EFORE 	YO	U SIGN	 IT	.  	
 
Date: __	___	___	___	___	___	___	___	___	___	___	__	  	 	Date: __	___	___	___	___	___	___	___	___	___	___	  	
Bu	yer	 ____	___	___	___	___	___	___	___	___	___	__	 (SEA	L)  	Seller	 ___	___	__	___	___	___	___	___	___	___	__ 	(SEA	L)  	
Date: __	___	___	___	___	___	___	___	___	___	___	__ 	 	Date: __	___	___	___	___	___	___	___	___	___	___	  	
Bu	yer	 ____	___	___	___	___	___	___	___	___	___	__	 (SEA	L)  	Seller	 ___	___	__	___	___	___	___	___	___	___	__ 	(SEA	L) 	
  
 
Escrow Agent acknowledges	 receipt 	of the 	earnes	t m	oney and agrees	 to 	hold 	and dis	burse 	the s	ame in 	
Accor	dance w	ith the 	terms 	hereof. 	 	
Date: __	___	___	___	___	___	___	___	___	___	___	___ 	Fir	m: _	_______	___	___	___	___	___	___	___	___	___	___	___	___	_  	
 	
By: _	_____	___	___	___	___	___	___	___	___	___	___	___	___	___	__	  	
(Sig	natu	re) 	
 
Sel	ling Age	nt/Firm	/Phone	__	__	______________________________	______	_______________	______	______	_____  	
Actin	g as 	Buy	er’s	 Agent 	Seller’s (s	ub)A	gent 	Du	al Ag	ent  	
Listin	g Agent/Fir	m/Ph	one___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	___	 	
Actin	g as 	Seller’s (s	ub)A	gent 	Du	al Ag	ent  	
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