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Offer and Acceptance - NCREC

When does an offer become a contract?
Posted by Rebecca Williams on April 01, 2020 in No Category
The purchase contract is the most important document in any real estate sale. It must reflect the entire agreement between the buyer and seller. This brochure examines issues arising during contract negotiations in residential real estate sales transactions. In particular, it focuses on “offer” and “acceptance”: the process by which a buyer and seller create a binding legal contract. This process typically begins when a prospective buyer makes an offer. Then, the seller either accepts it, re... read more
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Earnest Money Deposit - NCREC

Questions and Answers from a buyers perspective
Posted by Rebecca Williams on March 15, 2020 in No Category
This brochure in the Commission’s Questions & Answers series examines issues arising from the payment of earnest money deposits prior to closing a residential real estate sales transaction. Since payments made before closing are not treated the same in all transactions, it is important to understand the purpose of earnest money and how it will be handled during the transaction. This is usually spelled out in the offer to purchase or sales contract. Therefore, you should always read the contract or offer t... read more
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Home Inspections - NCREC

Do you need one? Do you want one? FInd out here!
Posted by Rebecca Williams on March 01, 2020 in No Category
For most people, purchasing a home is the largest investment they will ever make. It is no wonder then that many homebuyers employ professionals to inspect the structural and mechanical systems of the home and report on their condition. While sellers also employ home inspectors to alert them to problems with their homes which could arise later in the transaction, this brochure is written from the viewpoint of the potential homebuyer. This brochure is a joint publication of the North Carolina Home Inspector Licensur... read more
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Condo's and Townhomes - NCREC

Q&A for Condo and Townhomes
Posted by Rebecca Williams on February 15, 2020 in No Category
In the past, home ownership typically involved a single-family house with a yard. But today, due to increased prices of single-family homes and changes in lifestyles, many people either cannot afford or simply prefer not to own traditional single -family homes. In response to their needs, alternative forms of home ownership have been developed. Among these are multifamily housing complexes containing townhouses and condominiums (often referred to as “condos”). This pamphlet focuses on questions frequent... read more
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Tenant Security Deposits - NCREC

Lots of Great Q&A on Security Deposits here!
Posted by Rebecca Williams on January 29, 2020 in No Category
Each year, hundreds of thousands of North Carolinians rent houses, apartments, mobile homes, and other dwellings as their residences. For the first-time tenant—and some veteran renters—this can be a confusing and somewhat unsettling experience. The more you know about the process of renting residential real estate, the better you will be able to protect your interests and carry out your responsibilities under your rental agreement. This booklet addresses an important aspect of the rental process which g... read more
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