Real Estate
Purchase And Sale Agreement
North Carolina
Title issues in a purchase and sale agreement?
I am in the process of buying a piece of property, and I am currently in the middle of negotiating the purchase and sale agreement. I am concerned about potential title issues that may arise due to the history of the property, as I am not sure if the seller has clear title to the property. I would like to know what I should look out for in the agreement to ensure that I am protected from any potential title issues.
1 Attorney answer
Answer
Real Estate
North Carolina
N'kia N.
ContractsCounsel verified
A typical purchase and sale agreement for real property (commonly called an "Offer to Purchase and Contract" in North Carolina) includes due diligence. Due diligence is the buyer's opportunity to investigate the property. During the due diligence period, the buyer will usually have the property inspected. However, the buyer may also conduct a title search on the property. Additionally, a purchase and sale agreement might specify that the deal is contingent upon the seller being able to deliver clear title to the property. Anyone who is considering entering into a purchase and sale agreement for real property should also consider at least having an attorney review the agreement. It probably would not hurt to have attorney representation throughout the transaction.