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[Music] a north carolina residential purchase agreement is a document that binds the buyer and the seller of a home to a set of agreed upon terms and conditions it lays out in writing all of the important aspects of the transaction including the purchase price the closing date and any contingencies that must be met in this video well cover how a residential purchase agreement works the legal requirements in north carolina and what youll need to create one or e-forms the biggest online database for legal documents stick around and well tell you where you can find an official residential purchase agreement specific to north carolina first lets review how does a residential purchase agreement exactly work a residential purchase agreement initially acts as an offer letter from a prospective buyer to the seller of a house it states how much the buyer is willing to pay for it how it will be financed what contingencies must be met before closing the deal and more it typically takes some n