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OFFER TO PURCHASE AND CONTRACT - VACANT LOT LAND Form 12G

OFFER TO PURCHASE AND CONTRACT - VACANT LOT LAND Form 12G 2025

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The document is an 'Offer to Purchase and Contract' for a vacant lot or land in North Carolina, outlining the terms and conditions under which a buyer can purchase unimproved real property for personal use. It includes definitions of key terms, details about earnest money deposits, due diligence processes, buyer and seller obligations, and provisions for closing the transaction. The contract emphasizes the importance of conducting due diligence before finalizing the purchase and specifies the responsibilities of both parties regarding assessments, repairs, and legal compliance.

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What is a land contract offer?

A land contract is a written legal contract, or agreement, used to purchase real estate, such as vacant land, a house, an apartment building, a commercial building or other real property. As a type of specialty home financing, a land contract is similar to a mortgage.

How do I make an offer on a lot of land?

Whether you feel comfortable making an offer independently or seek the guidance of a lawyer, many buyers use the real estate agents Bid Offer form, or Vacant Land Offer to Purchase, to make an initial offer on a property.

What is the offer to purchase and contract vacant lot land for in NC?

What is the Offer to Purchase and Contract Vacant Lot/Land for? A person in North Carolina willing to sell a residential property the Seller has to agree upon certain terms and conditions with the Buyer by completing and signing the Offer to Purchase and Contract.

What is the standard offer to purchase in NC?

The most common residential offer form in North Carolina is the Offer to Purchase and Contract (Form No. 2-T), jointly approved by the N.C. Bar Association and NC REALTORS. Many standard addenda forms also are available to add provisions of special importance to the parties.

What is an offer to purchase contract?

An Offer to Purchase Real Estate is a legal document that outlines the terms and conditions under which a buyer is willing to purchase a property from a seller. It serves as a formal proposal and initiates the process of a real estate transaction.

Is a land contract good for the buyer?

Pro: It Provides More Opportunities To Purchase A buyer who needs a bigger space but cant qualify for it under traditional home loan guidelines may be able to obtain the property through seller financing. They can then pay off the land contract down the line through a mortgage once the balance is smaller.

What is the going rate for a land contract?

ContractsCounsels marketplace data shows the average flat fee rate for a land contract is $490.

OFFER TO PURCHASE AND CONTRACT - VACANT LOT LAND Form 12G 2025

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