How should I review a new purchase contract from a new buyer before I agree to it? – North Carolina Short Answer In North Carolina, a seller reviewing a new purchase contract should focus on the price, due diligence fee, earnest money, deadlines (especially the due diligence period and closing date), buyer contingencies, and default…
What contract terms and contingencies should I negotiate, like inspection, appraisal, financing, and earnest money? – North Carolina Short Answer In North Carolina, key residential purchase contract terms to negotiate include inspection rights and repair options, appraisal and financing contingencies, the mix of earnest money and due diligence fee, closing and occupancy dates, and seller…
What disclosures about the property’s condition do I need to make to the new buyer, and what happens if something changes before closing? – North Carolina Short Answer In North Carolina, most residential sellers must give the buyer three written disclosure forms about the property’s condition, any owners’ association, and any severed mineral or oil…
If I had a prior offer or contract, do I have any obligations or risks before signing with a new buyer? – North Carolina Short Answer Under North Carolina real estate law, a seller with a signed purchase contract generally must honor that contract and can face breach-of-contract claims for signing a conflicting deal with…
Can I negotiate inspection, appraisal, and financing contingencies to better protect me, and how should they be written? – North Carolina Short Answer In North Carolina, the parties may negotiate inspection, appraisal, and financing terms in a residential purchase contract, but the standard form contract already handles most of these through the “due diligence” structure…
If the sale proceeds, do I have any right to redeem the property or set it aside for improper notice? – North Carolina Short Answer Under North Carolina law, there is no broad, automatic right to redeem real estate after a properly conducted foreclosure or execution sale is finally completed. The main “second chance” before…
What emergency filings can stop a tax sale long enough for me to pay the past‑due taxes? – North Carolina Short Answer In North Carolina, the main ways to halt or slow a property tax foreclosure sale are: filing a motion with the clerk or judge to stay or continue the sale, filing for bankruptcy…
Do we need to open or revisit probate for a deceased parent’s property if the land has already passed to the siblings? – North Carolina Short Answer Under North Carolina law, probate is usually only needed to get legal title from the deceased parent into the heirs’ or devisees’ names, or to address debts and…
How can I stop a foreclosure or eviction and keep living in my home? – North Carolina Short Answer In North Carolina, stopping a foreclosure or eviction usually requires fast, formal action in court or with the mortgage holder before key deadlines pass. Options can include reinstating or paying off the loan before the foreclosure…
What happens if I accept the offer and the buyer backs out or can’t get financing—what are my options with the earnest money and contract remedies? – North Carolina Short Answer Under North Carolina law, what happens with the earnest money and contract remedies depends mostly on the written purchase contract and on why and…
