For your convenience, we have complied various real estate documents throughout the years. There is never an excuse or replacement for dedicated legal counsel that is reviewing your deals. Do not hold us accountable for the use of these documents, their legality in your particular circumstances or the liability that you assume by trying to 'play' lawyer.
Real Estate Documents
For your convenience, we have complied various real estate documents throughout the years. There is never an excuse or replacement for dedicated legal counsel that is reviewing your deals. Do not hold us accountable for the use of these documents, their legality in your particular circumstances or the liability that you assume by trying to 'play' lawyer.
Offer To Purchase , Harry Marsh Law version
OFFER TO PURCHASE AND CONTRACT
For valuable consideration, the receipt and legal sufficiency of which are hereby acknowledged, Buyer offers to purchase and Seller upon acceptance agrees to sell and convey the Property on the terms and conditions of this Offer To Purchase and Contract and any addendum or modification made in accordance with its terms (together the “Contract”).
1. TERMS AND DEFINITIONS: The terms listed below shall have the respective meaning given as set forth adjacent to each term.
(b) “Buyer”: _________________________________________________________________________________________________
(c) “Property”: The Property shall include all that real estate described below together with all appurtenances thereto including the improvements located thereon and the fixtures and personal property listed in Paragraphs 2 and 3 below.
Street Address: ______________________________________________________________________________________________
(d) “Purchase Price”:
$_______________________________ BY DUE DILIGENCE ("DD") FEE made payable and delivered to Seller
$________________________________BY INITIAL EARNEST MONEY DEPOSIT made payable and delivered to Escrow Agent
bank check or other means.
$________________________________ BALANCE of the Purchase Price in cash at Settlement
Should Buyer fail to deliver either the Due Diligence Fee or any Earnest Money Deposit by their due dates, or should any check or other funds paid by Buyer be dishonored, for any reason, by the institution upon which the payment is drawn, Buyer shall have (1) banking day after written notice to deliver cash or immediately available funds to the payee. In the event Buyer does not timely deliver cash or immediately available funds, Seller may terminate this Contract upon written notice to Buyer.
(e) “Earnest Money Deposit”: Any earnest monies paid in connection with this transaction, hereinafter collectively referred to as “Earnest Money Deposit”, shall be deposited and held in escrow by Escrow Agent until Closing, at which time it will be credited to Buyer, or until this Contract is otherwise terminated. In the event: (1) this offer is not accepted; or (2) a condition of any resulting contract is not satisfied, then the Earnest Money Deposit shall be refunded to Buyer. In the event of breach of this Contract by Seller, the Earnest Money Deposit shall be refunded to Buyer upon Buyer’s request, but such return shall not affect any other remedies available to Buyer. In the event of breach by Buyer, the Earnest Money Deposit shall be paid to Seller as liquidated damages and as Seller’s sole and exclusive remedy for such breach, but without limiting Seller’s rights under Paragraphs 4(d) and 4(e) for damage to the Property or Seller’s right to retain the Due Diligence Fee. It is acknowledged by the parties that payment of the Earnest Money Deposit to Seller in the event of a breach of this Contract by Buyer is compensatory and not punitive. The payment shall not constitute a penalty but actual compensation for Seller's anticipated loss, both parties acknowledging the difficulty determining Seller’s actual damages. If legal proceedings are brought by Buyer or Seller against the other to recover the Earnest Money Deposit, the prevailing party in the proceeding shall be entitled to recover from the non-prevailing party reasonable attorney fees and court costs incurred in connection with the proceeding.
(f) “Escrow Agent” Harry Marsh Law. NOTE: In the event of a dispute between Seller and Buyer over the disposition of the Earnest Money Deposit held in escrow, a licensed real estate broker (“Broker”) is required by state law (and Escrow Agent, if not a Broker, hereby agrees) to retain the Earnest Money Deposit in the Escrow Agent’s trust or escrow account until a written release from the parties consenting to its disposition or until disbursement is ordered by appropriate court. Alternatively, an Attorney may deposit the disputed monies with the clerk of court in accordance with the provisions of N.C.G.S. §93A- 12. Any interest earned from any Earnest Money Deposit may be retained by party holding it.
(g) “Effective Date”: The date that: (1) the last one of Buyer and Seller has signed or initialed this offer or the final counteroffer, if any, and (2) such signing or initialing is communicated to the party making the offer or counteroffer, as the case may be.
(h) “Due Diligence”: Buyer’s opportunity during the Due Diligence Period to investigate the Property and the transaction contemplated by this Contract, including but not necessarily limited to the matters described in Paragraph 4 below, to decide whether Buyer, in Buyer’s sole discretion, will proceed with or terminate the transaction.
(i) “Due Diligence Fee”: A negotiated amount, if any, paid by Buyer to Seller with this Contract for Buyer’s right to conduct DD during the DD Period. It shall be the property of Seller upon the Effective Date and shall be a credit to Buyer at Closing. The DD Fee shall be non-refundable except in the event of a material breach of this Contract by Seller, or if this Contract is terminated Parcel ID or book/page under any paragraph herein, or as otherwise provided in any addendum hereto. Buyer and Seller each expressly waive any right that they may have to deny the right to conduct DD or to assert any defense as to the enforceability of this Contract based on the absence or alleged insufficiency of any DD Fee, it being the intent of the parties to create a legally binding contract for the purchase and sale of the Property without regard to the existence or amount of any DD Fee.
(j) “Due Diligence Period”: The period beginning on the Effective Date and extending through 5:00 p.m. ____________ TIME BEING OF THE ESSENCE with regard to said date.
(k) “Settlement”: The proper execution and delivery to the closing attorney of all documents necessary to complete the transaction contemplated by this Contract, including the deed, settlement statement, deed of trust and other loan or conveyance documents, and the closing attorney’s receipt of all funds necessary to complete such transaction.
(l) “Settlement Date”: The parties agree that Settlement will take place on (the “Settlement Date”), unless otherwise agreed in writing, at a time and place designated by Buyer. (m) “Closing”: The completion of the legal process which results in the transfer of title to the Property from Seller to Buyer, which includes the following steps:
(1) the Settlement (defined above);
(2) the completion of a satisfactory title update to the Property following the Settlement;
(3) the closing attorney’s receipt of authorization to disburse all necessary funds; and
(4) recordation in the appropriate county registry of the deed(s) and deed(s) of trust, which shall take place as soon as reasonably possible for the closing attorney after Settlement. Upon Closing, the proceeds of sale shall be disbursed by the closing attorney in accordance with the settlement statement and the provisions of Chapter 45A of the N.C.G.S. If the title update should reveal unexpected liens, encumbrances or other title defects, or if the closing attorney is not authorized to disburse all necessary funds, then the Closing shall be suspended and the Settlement deemed delayed as outlined below.
(l) “Special Assessments”: A charge against the Property by a governmental authority in addition to ad valorem taxes and recurring governmental service fees levied with such taxes, or by an owners’ association in addition to any regular assessment (dues), either of which may be a lien against the Property. A Special Assessment may be either proposed or confirmed. “Proposed Special Assessment”: A Special Assessment that is under formal consideration but which has not been approved prior to Settlement. “Confirmed Special Assessment”: A Special Assessment that has been approved prior to Settlement whether or not it is fully payable at time of Settlement.
2. FIXTURES: The following items, if any, are deemed fixtures and are included in the Purchase Price free of liens: range/stove/oven, any built-in appliances, light fixtures, ceiling fans, attached floor coverings, blinds, shades, drapery rods and curtain rods, brackets and all related hardware, window and door screens, storm windows, combination doors, awnings, antennas, satellite dishes and receivers, burglar/fire/smoke/carbon monoxide/alarms, pool and spa equipment, solar energy systems, attached fireplace screens, gas logs, fireplace inserts, electric garage door openers with controls, storage sheds, mailboxes, attached wall and/or door mirrors, fuel tank(s) whether attached or buried and including contents, if any, as of Settlement, landscape and/or foundation lighting, invisible fencing, lawn irrigation systems and all related equipment, water softener/conditioner and filter equipment and any other items attached or affixed to the Property, EXCEPT the following items which are leased or not owned by Seller or which Seller does not intend to convey: (seller shall repair any damage caused by removal of all items excepted above)
3. PERSONAL PROPERTY: The following personal property shall be transferred to Buyer at no value at Closing:
4. BUYER’S DUE DILIGENCE PROCESS: (a) Loan: Pursuit of any loan during the Due Diligence Period ("DDP") is entirely Buyer's responsibility. It is also entirely Buyer's responsibility to set a DDP that will allow them sufficient time to procure all necessary conditions of their loan. Buyer's loan and/ or any loan requirements of lender is/are not a condition of this Contract. (b) Property Investigation: During the Due Diligence Period, Buyer or their agents, at Buyer’s expense, may conduct all desired tests, surveys, appraisals, investigations and inspections of the Property as Buyer deems appropriate, including:
(i) Inspections: To determine the condition of any improvements on the Property, the presence of unusual drainage conditions, excessive moisture or water damage, presence of asbestos or other environmental contamination, wood-destroying insects or damage therefrom, and the presence of radon gas.
(ii) Review of Documents: Review of the Declaration of Restrictive Covenants, Bylaws, Articles of Incorporation, Rules and Regulations, and other governing documents of any applicable owners’ association.
(iii) Insurance & Appraisals: Investigation of the availability and cost of insurance for the Property. Also an appraisal. (iv) Survey: To determine whether Property is suitable for Buyer’s intended use and the location of easements, setbacks, property boundaries and other issues which may or may not constitute title defects. (v) Zoning / Governmental Regulation: Investigation of current/proposed zoning or other governmental regulation that may affect Buyer’s intended use of Property, adjacent land uses, planned/proposed road construction, and school attendance zones.
(vi) Flood Hazard: Investigation of potential flood hazards on the Property, and/or any requirement to purchase flood insurance in order to obtain the Loan.
(vii) Utilities and Access: Availability, quality, and obligations for maintenance of utilities including water, sewer, electric, gas, communication services, none Offer To Purchase , Harry Marsh Law version Offer to Purchase , Harry Marsh Law version stormwater management, and means of access to the Property and amenities.
(vii) Streets/Roads: Investigation of the status of the street/road upon which the Property fronts as well as any other street/road used to access the Property, including:
(1) whether any street(s)/road(s) are public or private,
(2) whether any street(s)/road(s) designated as public are accepted for maintenance by the State of NC or any municipality, or
(3) if private, the consequences and responsibility for maintenance/existence and terms of any maintenance agreements.
(ix) Fuel Tank: Inspections to determine the existence, type and liability of any fuel tank located on the Property.
(c) Repair/Improvement Negotiations/Agreement: Buyer acknowledges and understands that unless the parties agree otherwise, the property is being sold in its current condition. Buyer and Seller acknowledge and understand that they may, but are not required to, engage in negotiations for repairs/improvements to the Property. Buyer is advised to make any repair/improvement requests in sufficient time to allow repair/improvement negotiations to be concluded prior to the expiration of the Due Diligence Period. Any agreement that the parties may reach with respect to repairs/improvements shall be considered an obligation of the parties and is an addition to this Contract and as such, must be in writing and signed by the parties in accordance with Paragraph 20.
(NOTE: See Paragraph 8(b) Access to Property/Walk-Through Inspection and Paragraph 8(k) Negotiated Repairs/Improvements.)
(d) Buyer’s Obligation to Repair Damage: Buyer shall, at Buyer’s expense, promptly repair any damage to the Property resulting from any activities of Buyer and Buyer’s agents and contractors, but Buyer shall not be responsible for any damage caused by accepted practices either approved by the N.C. Home Inspector Licensure Board or applicable to any other N.C. licensed professional performing reasonable appraisals, tests, surveys, examinations and inspections of the Property. This repair obligation shall survive any termination of this Contract.
(e) Indemnity: Buyer will indemnify and hold Seller harmless from all loss, damage, claims, suits or costs, which shall arise out of any contract, agreement, or injury to any person or property as a result of any activities of Buyer and Buyer’s agents and contractors relating to the Property except for any loss, damage, claim, suit or cost arising out of pre-existing conditions of the Property and/or out of Seller’s negligence or willful acts or omissions. This indemnity shall survive this Contract and any termination hereof.
(f) Buyer’s Right to Terminate: Buyer shall have the right to terminate this Contract for any reason or no reason, by delivering to Seller written notice of termination (the “Termination Notice”) during the Due Diligence Period (or any agreed-upon written extension of the Due Diligence Period), TIME BEING OF THE ESSENCE. If Buyer timely delivers the Termination Notice, this Contract shall be terminated and the Earnest Money Deposit shall be refunded to Buyer. WARNING: Seller is never obligated to grant an extension of the Buyer's Due Diligence period. Buyer should terminate prior to the expiration of this period, unless Buyer obtains a written extension from seller. Although Buyer may continue to investigate the Property following the expiration of the Due Diligence Period, Buyer’s failure to deliver a Termination Notice to Seller prior to the expiration of the Due Diligence Period shall constitute a waiver by Buyer of any right to terminate this Contract based on any matter relating to Buyer’s Due Diligence. Provided however, following the Due Diligence Period, Buyer may still exercise a right to terminate if Seller fails to materially comply with any of Seller’s obligations under Paragraph 8 of this Contract or for any other reason permitted under the terms of this Contract or North Carolina law.
(g) CLOSING SHALL CONSTITUTE ACCEPTANCE OF THE PROPERTY IN ITS THEN EXISTING CONDITION UNLESS PROVISION IS OTHERWISE MADE IN WRITING. (h) Repair/Improvement Negotiations/Agreement: Buyer acknowledges and understands that unless the parties agree otherwise, the property is being sold in its current condition. Buyer and Seller acknowledge and understand that they may, but are not required to, engage in negotiations for repairs/improvements to the Property. Buyer is advised to make any repair/improvement requests in sufficient time to allow repair/improvement negotiations to be concluded prior to the expiration of the Due Diligence Period. Any agreement that the parties may reach with respect to repairs/improvements shall be considered an obligation of the parties and is an addition to this Contract and as such, must be in writing and signed by the parties in accordance with Paragraph 20. (NOTE: See Paragraph 8(b) Access to Property/Walk-Through Inspection and Paragraph 8(k) Negotiated Repairs/Improvements.)
(i) Buyer’s Obligation to Repair Damage: Buyer shall, at Buyer’s expense, promptly repair any damage to the Property resulting from any activities of Buyer and Buyer’s agents and contractors, but Buyer shall not be responsible for any damage caused by accepted practices either approved by the N.C. Home Inspector Licensure Board or applicable to any other N.C. licensed professional performing reasonable appraisals, tests, surveys, examinations and inspections of the Property. This repair obligation shall survive any termination of this Contract.
(j) Indemnity: Buyer will indemnify and hold Seller harmless from all loss, damage, claims, suits or costs, which shall arise out of any contract, agreement, or injury to any person or property as a result of any activities of Buyer and Buyer’s agents and contractors relating to the Property except for any loss, damage, claim, suit or cost arising out of pre-existing conditions of the Property and/or out of Seller’s negligence or willful acts or omissions. This indemnity shall survive this Contract and any termination hereof.
(k)Buyer’s Right to Terminate: Buyer shall have the right to terminate this Contract for any reason or no reason, by delivering to Seller written notice of termination (the “Termination Notice”) during the Due Diligence Period (or any agreed-upon written extension of the Due Diligence Period), TIME BEING OF THE ESSENCE. If Buyer timely delivers the Termination Notice, this Contract shall be terminated and the Earnest Money Deposit shall be refunded to Buyer. Offer To Purchase , Harry Marsh Law version Offer to Purchase Harry Marsh Law version WARNING: Seller is never obligated to grant an extension of the Buyer's Due Diligence period. Buyer should terminate prior to the expiration of this period, unless Buyer obtains a written extension from seller. Although Buyer may continue to investigate the Property following the expiration of the Due Diligence Period, Buyer’s failure to deliver a Termination Notice to Seller prior to the expiration of the Due Diligence Period shall constitute a waiver by Buyer of any right to terminate this Contract based on any matter relating to Buyer’s Due Diligence. Provided however, following the Due Diligence Period, Buyer may still exercise a right to terminate if Seller fails to materially comply with any of Seller’s obligations under Paragraph 8 of this Contract or for any other reason permitted under the terms of this Contract or North Carolina law.
(l) CLOSING SHALL CONSTITUTE ACCEPTANCE OF THE PROPERTY IN ITS THEN EXISTING CONDITION UNLESS PROVISION IS OTHERWISE MADE IN WRITING.
5. SELLER REPRESENTATIONS:
(a) Ownership: Seller represents that Seller has owned the Property for at least one year and that it is their principal residence.
(b) Owners’ Association(s) and Dues: Seller authorizes and directs any owners’ association, any management company of the owners’ association, any insurance company and any attorney who has previously represented the Seller to release to Buyer, Buyer’s agents, or lender true and accurate copies of the following items affecting the Property, including any amendments: master insurance policy showing the coverage provided and the deductible amount Declaration and Restrictive Covenants or other Rules and Regulations Articles of Incorporation Bylaws of the owners’ association, including Architectural guidelines, parking restrictions & information current financial statement and budget of the owners’ association The name, address and telephone number of the president of the owners’ association or the association manager is:
6. SELLER OBLIGATIONS:
(a) Evidence of Title: Seller agrees to use best efforts to deliver to Buyer as soon as possible after the Effective Date, copies of all title information in possession of or available to Seller, including but not limited to: title insurance policies, attorney’s opinions on title, surveys, covenants, deeds, notes and deeds of trust, leases, and easements relating to the Property. Seller authorizes any Attorney presently or previously representing Seller to release and disclose any title insurance policy in such attorney's file to Buyer and both Buyer's and Seller's agents and attorneys; and
(2) the Property's title insurer or its agent to release and disclose all materials in the Property's title insurer's (or insurer's agents) file to Buyer and both Buyer or both Buyer/Seller agents and Attorneys.
(b) Evidence of Title: Seller agrees to use best efforts to deliver to Buyer as soon as possible after the Effective Date, copies of all title information in possession of or available to Seller, including but not limited to: title insurance policies, attorney’s opinions on title, surveys, covenants, deeds, notes and deeds of trust, leases, and easements relating to the Property. Seller authorizes any Attorney
(c) Access to Property/Walk-Through Inspection: Seller shall provide reasonable access to the Property (including working, existing utilities) through the earlier of Closing or possession by Buyer, including, but not limited to, allowing Buyer an opportunity to conduct a final walk-through inspection of the Property.
(c) Removal of Seller’s Property: Seller shall remove, by the date possession is made available to Buyer, all personal property which is not a part of the purchase and all garbage and debris from the Property.
(d) Affidavit and Indemnification Agreement: Seller shall furnish at Settlement an affidavit(s) and indemnification agreement(s) in form satisfactory to Buyer and Buyer’s title insurer, if any, executed by Seller and any person or entity who has performed or furnished labor, services, materials or rental equipment to the Property within 120 days prior to the settlement date and who may be entitled to claim a lien against the Property (N.C.G.S. §44A-8) verifying that each such entity has been fully paid and agreeing to indemnify Buyer, Buyer’s lender(s) and Buyer’s title insurer against all loss from any cause or claim arising therefrom.
(e) Designation of Lien Agent, Payment and Satisfaction of Liens: If required by N.C.G.S. §44A-11.1, Seller shall have designated a Lien Agent, and Seller shall deliver to Buyer as soon as reasonably possible a copy of the appointment of Lien Agent. All deeds of trust, deferred ad valorem taxes, liens and other charges against the Property, not assumed by Buyer, must be paid and satisfied by Seller prior to or at Settlement such that cancellation may be promptly obtained following Closing. Seller shall remain obligated to obtain any such cancellations following Closing.
(f) Good Title, Legal Access: Seller shall execute and deliver a GENERAL WARRANTY DEED for the Property in recordable form no later than Settlement, which shall convey fee simple marketable and insurable title, without exception for mechanics’ liens, and free of any other liens, encumbrances or defects, including those which would be revealed by a current and accurate survey of the Property, except: ad valorem taxes for the current year (prorated through the date of Settlement); utility easements and unviolated covenants, conditions or restrictions that do not materially affect the value of the Property; and such other liens, encumbrances or defects as may be assumed or specifically approved by Buyer in writing. The Property Offer To Purchase , Harry Marsh Law version Offer to Purchase , Harry Marsh Law version must have legal access to a public right of way. (NOTE: Buyer’s failure to terminate this Contract prior to the expiration of the Due Diligence Period as a result of any encumbrance or defect that is or would have been revealed by a title examination of the Property or a current and accurate survey shall not relieve Seller of any obligation under this subparagraph.)
(g) Deed, Excise Taxes: Seller shall pay for preparation of a deed and all other documents necessary to perform Seller’s obligations under this Contract, and for state and county excise taxes required by law.
(h) Agreement to Pay Buyer Expenses: Seller shall pay at Settlement $ toward any of Buyer’s expenses associated with the purchase of the Property, including any FHA/VA lender and inspection costs that Buyer is not permitted to pay, less any portion disapproved by Buyer’s lender.
(i). Seller shall pay all special assessments and property tax late listing penalties, if any.
(j) Any negotiated repairs shall be made in a good and workmanlike manner. Buyer has right to verify prior to settlement.
(l) Seller’s Failure to Comply or Breach: If Seller fails to materially comply with any of Seller’s obligations under this Paragraph or Seller materially breaches this Contract, and Buyer elects to terminate this Contract as a result of such failure or breach, then the Earnest Money Deposit and the Due Diligence Fee shall be refunded to Buyer and Seller shall reimburse to Buyer the reasonable costs actually incurred by Buyer in connection with Buyer’s Due Diligence without affecting any other remedies. If legal proceedings are brought by Buyer against Seller to recover the Earnest Money Deposit, the Due Diligence Fee and/or the reasonable costs actually incurred by Buyer in connection with Buyer’s Due Diligence, the prevailing party in the proceeding shall be entitled to recover from the non-prevailing party reasonable attorney fees and court costs incurred in connection with the proceeding.
7.PRORATIONS AND ADJUSTMENTS: Unless otherwise provided, the following items shall be prorated through the date of Settlement and either adjusted between the parties or paid at settlement: Settlement and either adjusted between the parties or paid at Settlement:
(a) Taxes on Real Property: Ad valorem taxes and recurring governmental service fees levied with such taxes on real property shall be prorated on a calendar year basis;
(b) Taxes on Personal Property: Ad valorem taxes on personal property for the entire year shall be paid by Seller unless the personal property is conveyed to Buyer, in which case, the personal property taxes shall be prorated on a calendar year basis;
(c) Rents: Rents, if any, for the Property;
(d) Dues: Owners’ association regular assessments (dues) and other like charges.
8. CONDITION OF PROPERTY AT CLOSING: Buyer’s obligation to complete the transaction contemplated by this Contract shall be contingent upon the Property being in substantially the same or better condition at Closing as on the date of this offer, reasonable wear and tear excepted.
9. RISK OF LOSS: The risk of loss or damage by fire or other casualty prior to Closing shall be upon Seller. If the improvements on the Property are destroyed or materially damaged prior to Closing, Buyer may terminate this Contract by written notice delivered to Seller or Seller’s agent and the Earnest Money Deposit and any Due Diligence Fee shall be refunded to Buyer. In the event Buyer does NOT elect to terminate this Contract, Buyer shall be entitled to receive, in addition to the Property, any of Seller’s insurance proceeds payable on account of the damage or destruction applicable to the Property being purchased. Seller is advised not to cancel existing insurance on the Property until after confirming recordation of the deed.
10. DELAY IN SETTLEMENT/CLOSING: Absent agreement to the contrary in this Contract or any subsequent modification thereto, if a party is unable to complete Settlement by the Settlement Date but intends to complete the transaction and is acting in good faith and with reasonable diligence to proceed to Settlement (“Delaying Party”), and if the other party is ready, willing and able to complete Settlement on the Settlement Date (“Non-Delaying Party”) then the Delaying Party shall give as much notice as possible to the Non-Delaying Party and closing attorney and shall be entitled to a delay in Settlement. If the parties fail to complete Settlement and Closing within fourteen (14) days of the Settlement Date (including any amended Settlement Date agreed to in writing by the parties) or to otherwise extend the Settlement Date by written agreement, then the Delaying Party shall be in breach and the Non- Delaying Party may terminate this Contract and shall be entitled to enforce any remedies available to such party under this Contract for the breach.
11. POSSESSION: Possession, including all means of access to the Property (keys, codes, garage door openers, etc.), shall be delivered upon Closing as defined in below unless otherwise provided below.
12. OTHER PROVISIONS AND CONDITIONS: Check all standard addenda that may be a part of this contract, if any, and attach hereto. Itemize all other addenda to this contract, if any, and attach hereto. Form #s refer to NC Realtor forms. Offer To Purchase, Harry Marsh Law version Offer to Purchase , Harry Marsh Law Version ______________________________________ A Buyer Possession Before Closing Agreement is attached (Standard Form 2A7-T) Short Sale Addendum (Form 2A14-T) FHA/VA Financing Addendum (Form 2A4-T) Additional Provisions Addendum (Form 2A11-T) A Seller Possession After Closing Agreement is attached
13. ASSIGNMENTS: This Contract MAY be assigned without the written consent of the buyer or seller.
14. PARTIES: This Contract shall be binding upon and shall inure to the benefit of Buyer and Seller and their respective heirs, successors and assigns. As used herein, words in the singular include the plural and the masculine includes the feminine and neuter genders, as appropriate.
15. SURVIVAL: If any provision herein contained which by its nature and effect is required to be observed, kept or performed after the Closing, it shall survive the Closing and remain binding upon and for the benefit of the parties hereto until fully observed, kept or performed.
16 ENTIRE AGREEMENT: This Contract contains the entire agreement of the parties and there are no representations, inducements or other provisions other than those expressed herein. All changes, additions or deletions hereto must be in writing and signed by all parties. Nothing contained herein shall alter any agreement between a REALTOR® or broker and Seller or Buyer as contained in any listing agreement, buyer agency agreement, or any other agency agreement between them.
17. EXECUTION: This Contract may be signed in multiple originals or counterparts, all of which together constitute one and the same instrument, and the parties adopt as their seals the word "SEAL" beside their signature below.
18. Effective Date: This effective date of this contract is the latter of the two dates corresponding to signature date, on this page. Harry Marsh Law makes no representation as to the legal validity or adequacy of any provision of this form. There is no adequate substitution for an Attorney representing a party who can fit this standard form to the provisions of your situation. Do not sign or use this document if you do not have your own independent legal counsel, unless you waive the right to such. Buyer: Signature: Printed Name Seller: Signature: Printed Name (Buyer Name of LLC/Corporation/Partnership/Trust/etc.) (Buyer Name of LLC/Corporation/Partnership/Trust/etc.) Firm Name: Date: Firm Name: Buyer's Agent, Sub Agent or Dual Agent Mailing Address: Individual Buyer's Agent: Buyer's Agent, Sub Agent or Dual Agent Mailing Address: Individual Seller's Agent Acting as a Designated Dual Agent (check only if applicable) License #:_ Listing Agent Phone#:_ Listing Agent Fax#:_ License #: Selling Agent Phone#: Selling Agent Fax#: Selling Agent E-mail:_ Listing Agent E-mail _________________________________ Signature: Printed Name Signature: Printed Name 19. Electronic Signature: This document may be signed electronically, which shall hold the Parties to the same legal duties and rights as though the document were signed with wet ink. ADDENDUM
ASSIGNMENT OF CONTRACT FOR VALUABLE CONSIDERATION, the receipt and sufficiency of which is hereby
acknowledged, __________________________, ASSIGNOR, sells and transfers allright, title and interest in and to
specified within this agreement dated the _____ day of ______________, 20__, to ASSIGNEE_________________________.
For the consideration of the sum of $_________ and other good and valuable consideration in hand paid by Assignee is
acknowledge by Assignor and hereby remise, release all right, title, interest, and claim to the following described lot, piece
or parcel of land, situate, lying and being in the county of ______________, State of ______________, known by street
and number as_______________________________. (The description includes any fixtures, window and floor coverings,
built-in appliances, draperies including hardware, shades, blinds, window and door screens, awnings, outdoor plants, trees, and
other permanently attached items now on premises.) The Assignor warrants and represents that said contract is in full force and
effect and is fully assignable and that Assignor has full right and authority to transfer said contract and that the contract rights
herein transferred. The Assignee hereby assumes and agrees to perform all the remaining and executory obligations of the Assignor
under the “Agreement For Sale” contract and agrees to indemnify and hold the Assignor harmless from any claim or demand
resulting from nonperformance by the Assignee. Assignee expressly agrees and understands that all rights and privileges of property
is being conveyed “subject to” any such mortgages or deeds of trust attached to the property. Dated this __________ day
of _______________, 20__. ____________________ ASSIGNOR Accepted this __________ of _______________, 20__.
____________________ ASSIGNOR Accepted this __________ of _______________, 20__. State of _______________________
County of ____________________ 2 I, the undersigned Notary Public in and for the State of ___________, hereby certify that on
the _____ day of _______________, 20__, personally appeared before me ___________________________________, to me known to be
the individual(s) described in signed the same as _______________________ free and voluntary act and deed, for the uses and purposes
therein mentioned. Given under my hand and official seal the day and year last above written. _________________________ Notary Public
in and for the State Of _______________, residing at ___________________________ My Commission Expires:
STATE OF NORTH CAROLINA
THIS LEASE AGREEMENT, made and deemed executed on the latter of the dates of signatures on page 5
(if signatures are not concurrent), ___________ by and between ______________________ _____________________________
(hereinafter referred to as “LANDLORD”) and ________________________ (hereinafter referred to as “TENANT”).
The parties acknowledge that the agreements contained herein are sufficient consideration for the execution of this
Lease Agreement THAT FOR AND IN CONSIDERATION of the mutual covenants hereinafter contained, the Landlord does hereby
lease to the Tenant, and the Tenant does hereby lease from the Landlord, the property known and described
as _________________________________________________________________the following terms and conditions:
1. TERM This Lease is for a rental period as follows: FROM: __________________________, 201_____ TO: __________________________, 201_______
2. RENT The monthly rental during said term shall be ________________________________, which shall be paid on or before the first (1st) day of each
month during the rental period outlined above. A five percent (5%) late payment penalty shall be assessed if the rent is not received by the Landlord by
the fifth (5th) day of the month. Rental payments shall be by CERTIFIED CHECK ONLY or as directed by Landlord. There shall be a $25.00 fee assessed
to Tenant for any check returned for insufficient funds or account closed. WAIVER OF NOTICE OF DEFAULT TENANT HEREBY WAIVE ANY REQUIREMENT
OF NOTICE OF DEFAULT AND SPECIFICALLY WAIVE THE 10-DAY NOTICE REQUIREMENT PRIOR TO FILING EVICTION PROCEEDINGS. SECURITY
DEPOSIT A security deposit equal to two (2) months rent shall be and only be released upon the sole and ultimate authority of Landlord, who may deduct from
amounts held to remedy damage or to allow repairs to Property after this lease has terminated. The security deposit is payable by forwarding a double monthly
payment to Landlord in the first two months of the tenancy.
3. CONDITIONS OF LEASE The following are conditions on which this Lease is made and accepted: (a) prompt payment of the rent monthly, as required above.
Tenant Initials______________ Landlord Initials_________________ (b) performance of all other covenants and conditions contained herein Landlord may at his option
terminate this Lease Agreement if Tenant fails to pay rent as due. Should Tenant fail to comply with any of the material provisions of this Lease (other than payment of rent)
or materially fail to comply with any duties imposed on Tenant by statute, within seven (7) days after delivery of written notice by Landlord specifying the noncompliance,
then and in that event, Landlord may terminate this Lease.
4. NO WAIVER OF RIGHTS Landlord’s failure to take advantage of any default by Tenant shall not be construed as a waiver thereof. Any custom or practice that may arise by
the conduct of the Landlord and Tenant during the term of this Lease, shall not be construed as a waiver of rights granted hereunder. Any forbearance by Landlord as to the
requirements of this Lease shall not be construed as a waiver of Landlord’s right to insist upon performance of the provisions hereof.
5. ABANDONMENT BY TENANT If Tenant abandon or vacate this property, Landlord may, upon providing Tenant with ten (10) days written notice, declare this Lease terminated.
The failure to occupy this property for a continuous period of thirty (30) days shall be conclusive evidence that Tenant have abandoned this property. Any of Tenant’ personal property
located in or about this property after this 30-day period shall also be deemed abandoned and may be removed by Landlord and disposed of by Landlord without any liability to Tenant
therefore. Landlord shall use his best efforts to re-rent this property. However, Tenant shall be liable to Landlord for all damages suffered by Landlord by reason of such forfeiture, including but not limited to:
(a) actual damages suffered by Landlord until this property is re-rented, including reasonable expenses incurred in re-renting this property, and
(b) the difference between the rent received by Landlord upon re-renting and the rent that would have been received by Landlord pursuant to this Lease during the term of this Lease had it been fully rented by
Tenant during the entire term hereof. Landlord’s remedies hereunder are cumulative and do not affect any other remedies Landlord has or may have as a result of Tenant’ default hereunder in equity or at law.
6. OCCUPANTS The premises shall be used only as a private residential dwelling. Tenant is required to occupy this property as his personal residence, it being understood and agreed that Tenant shall NOT
have the right to sublet or rent this property. The premises should be occupied by Tenant, his spouse and immediate family only. One small dog is permitted.
7. RE-ENTRY BY LANDLORD The Landlord reserves the right to enter the premises at reasonable times for the purposes of: (a) inspecting its condition and making such repairs, alterations, or improvements
to the premises as the Landlord considers desirable or necessary, but Landlord shall have no duty to make any such repairs, alterations, or improvements except as hereinafter specifically set out.
Tenant Initials______________ Landlord Initials_________________ (b) during the last sixty (60) days of the rental period, exhibiting the premises to prospective renters.
8. USE OF PREMISES The Tenant shall exercise due care in the use of the premises. The premises and appurtenances thereto are hereby delivered to the control of the Tenant who accept the same AS IS,
and agree that the Landlord shall not be liable to the Tenant or any other person for any loss, injury, or damage to person or property arising out of the failure of any plumbing, heating, air conditioning, pool and
spa, electric, gas, water, or sewage systems, or storm, flood, fire, or any other catastrophe, or moths, termites, or vermin, of any latent defects, or from any other cause whatsoever, whether or not due to the
negligent acts or admissions of the Landlord, Tenant or other occupants of the premises. TENANT SHALL BE RESPONSIBLE FOR ANY REPAIRS/MAINTENANCE TO THE ELECTRICAL, PLUMBING,
HEATING SYSTEMS. Should any HVAC system fail entirely, landlord shall be responsible for replacement. Tenant shall not make any major repairs, alterations, improvements or changes of any kind to this property
without the prior written consent of Landlord. It is the specific intent of this provision that Landlord shall at all times during the term of this Lease maintain full control of the condition of this property and that Tenant
shall not have the right to make any changes thereto without the prior written consent of Landlord. However, it is specifically provided and understood that minor repairs may be done by Tenant without Landlord’s prior
written consent. It is the parties’ intent that Tenant be allowed to make cosmetic improvements and changes to the property and that there shall be no structural or major renovations or changes without Landlord’s prior
written consent. Any repairs, alterations, improvements or changes authorized under this Lease, whether minor or major, shall be paid for solely by Tenant. Tenant shall be solely responsible for payment of all materials
and labor associated with any work performed on this property and shall discharge immediately any contractor’s liens filed against this property. Tenant shall assure that all such changes to the property are in accordance
with all applicable governmental regulations, zoning ordinances, building standards, restrictions, homeowners association rules and regulations. Tenant save and hold harmless Landlord for any and all damages, claims,
costs, expenses and liabilities incurred by reason of any changes made by Tenant pursuant to this paragraph. All changes by Tenant shall become the property of Landlord in the event Tenant default hereunder.
9. NO UNLAWFUL USE The Tenant agree that they shall not make or allow to be made any unlawful or offensive use of the premises (which shall specifically include excessive noise, noise at unusual hours of the day or
night, excessive vehicular or pedestrian traffic or same at unusual hours of the day or night). TENANT SHALL USE THE HEATING SYSTEMS INSTALLED BY LANDLORD AND SHALL NOT USE ANY OTHER TYPE OF
HEATING SYSTEM, AND SPECIFICALLY SHALL NOT USE COAL OR WOOD BURNING STOVES OF ANY KIND.
10. MAINTENANCE OF PREMISES Tenant has inspected this property prior to execution of this lease, therefore no inspections or repair issues are at issue or addressed. The property and all of its components are in
good working condition and not in need of immediate repairs. The Tenant agree to keep the premises in good order and in a clean and sanitary condition, normal wear and tear excepted. All costs of maintenance,
repairs or refurbishments shall be borne exclusively by Tenant after the date of this Lease. Tenant shall make all repairs to the heating or water systems, electric lights or wires, pool and spa, and any other fixtures,
appliances or appurtenances, upon demand by Landlord, it being the specific intent that Tenant shall make all necessary repairs to this property and that Landlord may make demand that Tenant make
Tenant Initials______________ Landlord Initials_________________ repairs, in the sole discretion of the Landlord. Tenant specifically agrees to keep the premises in good repair, including water pipes, plumbing
and heating/air conditioning/ventilation systems, pool and spa and to deliver up the premises at the end of the term or sooner upon lawful termination of this lease, in the same condition as the same now are, ordinary
wear and tear excepted. Landlord shall not be responsible for any repair items relative to this house and property.
11. INSURANCE Tenant shaII be solely responsible for their personal property and belongings located in or around this property during the term of this Lease. They are required to have renter's insurance at all times, for the
protection of Tenant’ personal property and belongings. Landlord shall not be liable to Tenant for damage, destruction or loss relative to Tenant’ personal property or belongings for any reason during the term of this Lease.
12. DESTRUCTION OF PREMISES In the event this property is destroyed or rendered untenantable by fire, storm, earthquake, or other casualty not caused by the negligence of Landord, this Lease shall terminate from
such time as said property is rendered untenantable (except for the purpose of enforcing any rights that may have accrued hereunder prior to the date of said disaster). The rent required hereunder shall be adjusted such that
Tenant shall pay up to the date of such disaster. Should only a part of the property be rendered untenantable, the rent required hereunder shall abate in proporation to the whole, such that Tenant pays rent only for such portion
of said property as is tenantable. Following any such disaster, Landlord shall restore the property to its full use and condition as speedily as practical, after which the full rent shall re-commence and this Lease shall continue in
full force and effect as constituted prior to said disaster.
13. UTILITIES, LAWN, POOL & GARBAGE The Tenant shall pay all electric, gas, water, garbage, telephone and other utilities as they come due. Tenant agree to use Landlord’s service providers for lawn and pool maintenance
and pay monthly fees as they become due. In the event Tenant does not pay billed fees within 15 (fifteen) days of the due date, that amount will be added to the following months rent and be due and payable without demand along with rent.
14. ATTORNEY’S FEES In the event Landlord files eviction proceedings against Tenant for any reason, Tenant agree to pay Landlord’s attorney fees of not less than $500.00 plus any court costs incurred by Landlord. Prior to termination
of eviction proceedings, Tenant shall be required to pay all rent past due plus late charges, filing fees, and attorney’s fees, regardless of whether said case has gone to trial.
15. CRIMINAL ACTIVITY It is specifically provided and understood that Landlord may cancel this Lease should this house be seized or held in any manner due to illegal activity or alleged illegal activity, whether Tenant are the direct cause of
such seizure or not and whether Tenant had knowledge of such activity or not. It is intended that the right to cancel this Lease pursuant to this provision be without notice to Tenant. Tenant, any member of Tenant’ household, or guest or other
person under the Tenant’ control, shall not engage in or facilitate any criminal activity on or near the premises. This includes the illegal manufacture, sale, distribution or use of a controlled substance (as defined in Section 102 of the Controlled
Substance Act 21 U.S.C. 802). A violation ofthis provision shall be a substantial breach of this Lease and shall entitle Landlord to evict Tenant without notice. Proof of a violation of this provision shall be by a preponderance of the evidence.
Further, it is irrelevant whether Tenant knew of the illegal activity or not, it being sufficient that the activity occurred on or near the premises to trigger this default provision. This provision is intended to allow Landlord to keep
Tenant Initials______________ Landlord Initials_________________ the premises free of actual or suspected illegal activity and drug-related activity without requiring that Tenant, a member of Tenant’ household or a guest of Tenant being criminally
convicted of same. Tenant shall not allow this dwelling to be used for illegal activity or drugrelated activity, whether or not Tenant had actual knowledge of same.
I6. SUBORDINATION Tenant agree to timely execute, upon request from Landlord, any document or instrument necessary to evidence the subordination of this Lease to any mortgage which Landlord now or hereafter place upon the property.
17. BENEFIT This Lease shall inure to and be binding upon the parties hereto, their heirs, successors, personal representative and/or assigns.
18. COUNTERPARTS This Lease may be signed in counterparts, at different dates by the different parties. Each Counterpart is deemed an original, the date of executing being defined as the date the later Party signs their instrument.
19. Harry Marsh Law This general lease was originally drafted by Harry Marsh Law ("HML"). Its users assume all liability and risk of using the lease and waives any professional obligation owed to them by HML unless specifically contracted between Parties and HML. There is no replacement for adequate, independent legal counsel. All users agree that they will have this document reviewed by their own independent legal counsel. IN WITNESS whereof, the parties have hereunto set their hands and seals, the day and year last written below.
______________________________________________________________________________ (SEAL) Landlord Date: ______________________
______________________________________________________________________________ (SEAL) Tenant Date: ________________________
IT IS A BAD IDEA TO TRY TO EXECUTE THIS WITHOUT AN ATTORNEY
NORTH CAROLINA QUITCLAIM DEED Excise Tax: $00.00
PARCEL IDENTIFIER NO. VERIFIED BY_____________________COUNTY ON THE _________ DAY OF_______________, 20_______
THIS INSTRUMENT WAS PREPARED BY: (No Title Search or Opinion Rendered) RETURN TO:
BRIEF DESCRIPTION FOR THE INDEX: THIS DEED made this _____ day of _______, 2016 by and between
GRANTOR Mailing Address:
WITNESSETH: That said Grantor has remained and released and by these presents do remise, release, convey and forever convey unto Grantee, their heirs, and/or successors and assigns, all right, title, claim and interest of the Grantor in and to a certain lot(s) or parcel of land situated in the Mecklenburg County, State of North Carolina, and more particularly described as follows:
Being all of Lot 13 of _________, section ___ as shown on map thereof recorded in map book ____at page ____ in the Mecklenburg County Registry; less and except that certain right of way and drainage easement conveyed to the City of Charlotte in Book ___ at Page_______ in the Mecklenburg County Public Registry. Together with improvements located at ______________, Charlotte, North Carolina. Parcel ID # _________.
All or a portion of the property herein conveyed does not include the primary residence of a Grantor. GRANTEE Mailing Address: Situs Address:
IT IS A BAD IDEA TO TRY TO EXECUTE THIS WITHOUT AN ATTORNEY
The property hereinabove described was acquired by Grantor by instrument recorded in Book ______, Page _____, Mecklenburg County Registry. TO HAVE AND TO HOLD the aforesaid lot or parcel of land and all privileges and appurtenances thereto belonging to the Grantee in fee simple.
And the Grantor covenants with the Grantee, that Grantor is seized of the premises in fee simple, has the right to convey the same in fee simple, that title is marketable and free and clear of all encumbrances, and that Grantor will warrant and defend the title against lawful claims of all persons whomsoever, other that the following exceptions:
All such valid and enforceable easements, restrictions and rights of way of record and the lien of ad valorem taxes for the current year which the grantee herein assumes and agrees to pay. IN WITNESS WHEREOF, the Grantor has hereunto set their hand and seal the day and year first above written. __________________________________________________(SEAL)
STATE OF ___________________ COUNTY OF _______________________
I certify that ________________ and wife, ___________________ who is known to me or proved to me on the basis of satisfactory evidence to be the person(s)described, personally appeared before me this day; each acknowledging to me that he/she voluntarily signed the foregoing instrument for the purposes therein expressed. Witness my hand and Notarial stamp or seal this _______________ day of _________________, 2016. Notary Signature:_______________________________ Notary's Printed Name:__________________________ My Commission Expires:_________________________
The undersigned, in consideration of the payment of the sum of ____________________, receipt of which is hereby acknowledged, hereby waives, releases, discharges, quitclaims and renounces unto any owner of the property referenced below any claim upon such property or demand of any kind whatsoever, which the undersigned has or might have against the building/premises described below regarding labor performed and/or material furnished for the construction of any improvement thereon.
The undersigned warrants that all labor and materials used by the undersigned in the erection or said improvements of the property have been fully paid for. Property Address: _________________________________ Contractor STATE OF North Carolina COUNTY OF I hereby acknowledge that the statements contained in the foregoing Release of Lien are true and correct. Sworn to and subscribed before me this day of , 20 ______.
My commission expires: