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Click ‘Get Form’ to open the New Construction Addendum NC in the editor.
Begin by filling in the property details, including the address, seller, and buyer information. Ensure accuracy as this is crucial for legal documentation.
Indicate whether the Seller is also the General Contractor or provide the contractor's name. Include their NC contractor’s license number and classification.
In Section 1, confirm that construction of the house has been completed and ensure you can provide a certificate of occupancy by Settlement.
For any additional improvements, describe them clearly in Section 2(a). If none are needed, simply write 'N/A'.
Review Sections 3 through 7 carefully to understand obligations regarding completion timelines, inspections, purchase price, building deposits, and warranties.
Finally, ensure all parties sign and date the document where indicated to finalize the agreement.
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An addendum is an additional document that is added to a contract to modify or clarify certain terms and conditions. It may be added before or after the contract is signed, and its purpose is to provide a clear understanding and agreement between both parties.
What is the addendum to a construction contract?
If the owner fails to do so, a buyer may be able to cancel any contract. There are limited exemptions for completing the form, such as new home construction that has never been occupied. Owners are required to answer every question by selecting Yes (Y), No (N), No Representation (NR), or Not Applicable (NA).
Is new construction exempt from property disclosure in NC?
The New Construction Addendum (Form 2A3-T) is essential for buyers and sellers involved in newly constructed homes. This document provides important details regarding warranties, construction improvements, and obligations. It ensures that all parties are protected during the real estate transaction.
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