Seller's Disclosure of Financing Terms for Residential Property in connection with Contract or Agreement for Deed a/k/a Land Contract - North Carolina 2025

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Background: Under contract-for-deed dealsalso called land contracts, installment land contracts, land sales contracts, or bonds for deedthe seller agrees to turn over a homes deed only after the buyer completes a series of payments.
Sellers are required to disclose property information to the realtor and potential buyers based on state and local laws. A disclosure document details a propertys condition and what might negatively affect its value. Sellers who willfully conceal information can be sued and potentially convicted of a crime.
The North Carolina Residential Property Disclosure Act requires the owner of residential real property consisting of 1-4 units, whenever the property is to be sold, exchanged, optioned, or purchased pursuant to a lease with option to purchase, to furnish to the purchaser a RESIDENTIAL PROPERTY DISCLOSURE STATEMENT
A contract for deed is a type of seller financing, where the seller agrees to give possession of the property to the buyer immediately. The buyer makes payments directly to the seller, usually monthly, over a period of time agreed upon by both parties and established within the contract.
If you are trying to sell your home or real estate in the Tar Heel State, you might have heard about the required disclosures you must make to potential buyers. North Carolina law mandates that sellers identify any known defects in their property before a purchase contract is signed.
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When used in the context of residential real estate, it is also called bond-for-title or owner financing. Usually, the purchaser will make some sort of down payment to the seller, and then make installment payments (usually on a monthly basis) over a specified time, at an agreed-upon interest rate, until the loan

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