North Carolina Real Estate Contract: Different Types and Key Terms to Include

Quick Facts — Real Estate Contract Lawyers

What is a North Carolina Real Estate Contract?

A North Carolina real estate contract, sometimes called a residential real estate purchase and sale agreement, is a contract that is negotiated between a buyer and a seller to facilitate the sale of property. Real estate contracts are most commonly used when purchasing an existing residential home, but can also be used for purchasing commercial property, investment property, and renting property.

A real estate contract lays out the terms and conditions that both parties must abide by in order to finalize the sale. Each party has rights and obligations under a real estate contract. For example, a buyer must meet certain contingencies like securing financing and completing a home inspection. Likewise, the seller is obligated to provide the buyer with information about the property by filling out a property disclosure statement.

Property disclosure statements are required to be included in a real estate contract under North Carolina law. In addition, the seller must also provide a lead-based paint disclosure and a mineral, oil, and gas rights disclosure.

Common North Carolina Real Estate Contracts

The most common North Carolina real estate contract is the residential purchase agreement. The standard contract form used by most realtors is called the North Carolina Association of Realtors Purchase Agreement. This contract is approved by the Association of Realtors as well as the North Carolina Bar Association.

If the transaction doesn’t involve residential real estate, a different contract will need to be used for the sale. Other common contracts include:

  • Commercial property purchase agreement. Used when buying or selling a commercial property that is zoned for business purposes like an office building or storefront.
  • Real estate assignment contract. Used when purchasing properties for investment purposes. A reassignment contract allows the buyer to assign the contract to a secondary buyer.
  • Lease agreement. Use when a property owner wants to retain ownership rights of the property but allow a tenant to rent the property in exchange for monthly payments.

4 Essential Elements of a North Carolina Real Estate Contract

All contracts in North Carolina require essential elements to be upheld in court and considered enforceable. This is also true for real estate contracts. The 4 essential elements of a North Carolina real estate contract are:

  1. An offer made by the buyer and acceptance of the offer by the seller.
  2. Consideration or the exchange of items of value like money in exchange for a house.
  3. The identity of all parties involved, and all parties must be legally competent to enter the agreement.
  4. The contract must be in writing and be signed by all parties.

If a real estate contract is missing even just one of these elements, it will be deemed void in a North Carolina court and unenforceable. It is highly recommended that parties entering a real estate contract have their contract reviewed by an experienced real estate attorney. A real estate attorney will ensure that the contract includes all necessary information and abides by all applicable laws.

What is a Real Property Contract in North Carolina?

A real property contract is a contract that is executed between a real property contractor and another party for the purpose of services to real property for capital improvement. A capital improvement is a permanent structural alteration or repair to real property that increases the property’s value.

A real property contract differs from a real estate contract because a real estate contract is used when buying and selling a property while a real property contract is used to make improvements to a property to increase the value.

Frequently Asked Questions

How do I hire a lawyer to draft a real estate contract in North Carolina?

See Real Estate Contract by State

See Real Real Estate Purchase Agreement Projects

Florida Home Purchase Drafting
  • Florida
  • 4 lawyer bids
  • $500 - $1,050
View Details
Arkansas Review a real estate contract to make sure I am protected as a seller. Review
  • Arkansas
  • 2 lawyer bids
  • $400 - $800
View Details
Georgia Purchase and Sale Agreement Review
  • Georgia
  • 3 lawyer bids
  • $499 - $1,000
View Details
California Review Real Estate Contract Review
  • California
  • 4 lawyer bids
  • $450 - $600
View Details
Indiana Real estate purchase contract Drafting
  • Indiana
  • 2 lawyer bids
  • $250 - $950
View Details
Arizona Review Real Estate Contract for commercial building Review
  • Arizona
  • 9 lawyer bids
  • $325 - $1,000
View Details

See all Real Estate Purchase Agreement projects in North Carolina


ContractsCounsel is not a law firm, and this post should not be considered and does not contain legal advice. To ensure the information and advice in this post are correct, sufficient, and appropriate for your situation, please consult a licensed attorney. Also, using or accessing ContractsCounsel's site does not create an attorney-client relationship between you and ContractsCounsel.


Need help with a Real Estate Contract?

Create a free project posting
Clients Rate Lawyers 4.9 Stars
based on 19,188 reviews

Meet some of our North Carolina Real Estate Contract Lawyers

Nicholas M. on ContractsCounsel
View Nicholas
5.0 (46)
Member Since:
June 1, 2023

Nicholas M.

President/Attorney
Free Consultation
Providence, Rhode Island
16 Yrs Experience
Licensed in NC CT, ME, NH, VT
The Catholic University of America, Columbus School of Law

Nicholas Matlach is a cybersecurity expert (CISSP) and an attorney who is dedicated to helping small businesses succeed. He is a client-focused professional who has a deep understanding of the challenges that small businesses face in the digital age. He also provides legal counsel to small businesses on a variety of issues, including formation, intellectual property, contracts, and employment law.

Recent  ContractsCounsel Client  Review:
5.0

"Enjoyed his demeanor. Professional yet down to earth. The document created for me was very explicit and easy to read. I would recommend :)"

David W. on ContractsCounsel
View David
5.0 (1)
Member Since:
June 14, 2023

David W.

Attorney
Free Consultation
Indian Trail, North Carolina
12 Yrs Experience
Licensed in NC
Charlotte School of Law

David provides legal representation with flat fee pricing for services in many practice areas including Business Law, Local Government, Contracts, Estate Planning, and Trademarks. His legal expertise is complemented by a diverse background as a former stockbroker and registered investment advisor, treasurer of a $1 billion+ non-profit, and elected county official. David H. Williams Law, PLLC is committed to providing expert legal services at a flat fee, making specialized legal counsel more accessible and affordable. Reach out to today to schedule a complimentary consultation to see if David's diverse skill sets are a fit for you or your organization's legal needs. https://davidhwilliamslaw.cliogrow.com/book https://davidhwilliamslaw.com/

Recent  ContractsCounsel Client  Review:
5.0

"David was very helpful in answer my questions. He went above and beyond to inform me on my real estate inquiries and have provide valuable recommendations."

Deanna M. on ContractsCounsel
View Deanna
5.0 (2)
Member Since:
July 28, 2023

Deanna M.

Attorney
Free Consultation
Raleigh, North Carolina
8 Yrs Experience
Licensed in NC MN
Ave Maria School of Law

I have had the opportunity to experience the legal industry in a private setting and public sector, representing individuals, companies of all sizes, as well as the Government. As a strong leader, I take pride in continuously tackling new challenges and learning as much as possible, always finding answers and delivering results to my clients. I received my JD from Ave Maria School of Law in Naples, Florida and went on to pass the Uniform Bar Exam. I am currently licensed in Minnesota and North Carolina. I have experience in real estate law, estate planning, contract law, family law, criminal law, and more.

Recent  ContractsCounsel Client  Review:
5.0

"Deanna is very professional, easy to work with, clarifies doubt quickly, fast turnaround and value for money. I am very happy with the service. I would highly recommend her for any services that she offers."

Taylor A. on ContractsCounsel
View Taylor
5.0 (1)
Member Since:
August 10, 2023

Taylor A.

General Counsel
Free Consultation
Mooresville, North Carolina
10 Yrs Experience
Licensed in NC
Charlotte School of Law

After starting my professional career in Human Resources in the Healthcare and Non-profit fields, I decided to expand my options and attended law school, passing the North Carolina bar in 2016. Since then, I have practiced in-house for healthcare companies, in the civil rights arena, and run my own business. I am currently looking to return to my legal roots and am excited to practice business law again.

Recent  ContractsCounsel Client  Review:
5.0

"Excellent service by a knowledgeable attorney at a lower price than I expected. Her comprehensive organizational program identified end of life planning I needed to do and provided a system to help keep all my information where I can easily update it and help my loved ones when they will need it most. I will use Ms. Abbasi again in the future. I highly recommend her for all estate planning needs."

Steven W. on ContractsCounsel
View Steven
4.9 (20)
Member Since:
June 2, 2023

Steven W.

Attorney
Free Consultation
Texas & North Carolina
5 Yrs Experience
Licensed in NC NY, TX
North Carolina Central University

Attorney Steven Wax is ardent about helping his clients. Whether creating personalized estate plans, drafting and negotiating contracts or other legal matters. Steven’s goal is to assist and counsel his clients to protect them and their loved ones. Steven grew up on Long Island, New York. He attended the University of Massachusetts in Amherst earning a BS in Sport Management. He earned his paralegal certificate at Duke University and earned his Juris Doctorate from North Carolina Central University School of Law in Durham, NC. Steven has an extensive legal career in the life science sector, working for some of the world’s largest Contract Research Organizations since 2013. Steven has negotiated a broad range of contracts for both businesses and individuals. Steven participated in the NCCU Elder Law Project, where he prepared wills, durable powers of attorney, living wills, and health care powers of attorneys for low/fixed income clients in Durham and surrounding counties. Steven finds meaningful ways to share his skills and passion with his community. Steven volunteers his time to Wills for Heroes, which provides no-cost estate planning documents to first responders and their families, through the NC Bar Foundation.

Recent  ContractsCounsel Client  Review:
5.0

"Steven was very helpful and informative throughout the process of reviewing my divorce decree, and he completed the project promptly. Thank you, Steven!"

Peter R. on ContractsCounsel
View Peter
Member Since:
July 27, 2023

Peter R.

Of Counsel
Free Consultation
Hillsborough, North Carolina
32 Yrs Experience
Licensed in NC
University of North Carolina at Chapel Hill

Admitted in NC in 1994. Law degrees from English and US law schools. Civil and criminal litigation experience as well as in house corporate attorney. Recipient of the highest civilian honors from 14 states, the Ellis Island Medal of Honor, a papally blessed knighthood and listed in NLJ as a recipient of on of their Pro Bono Attorney of the Year Award winners and the NLJ top 40 trial lawyers in the USA under 40 years old.

Sarah F. on ContractsCounsel
View Sarah
Member Since:
September 15, 2023

Sarah F.

Junior Partner
Free Consultation
Raleigh, NC
7 Yrs Experience
Licensed in NC WY
Campbell Law School

Sarah brings together her accounting and legal background to help solve client problems. Sarah couples her broad, general commercial legal background with our client’s international and business problems to arrive at elegant solutions that work for their business.

Find the best lawyer for your project

Browse Lawyers Now

Lawyer Reviews for North Carolina Real Estate Contract Projects

Purchase Agreement Contract Review

5.0

"Anna C was an absolute pleasure to work with. She added language that protected us beyond what we could've imagined, was very responsive and so helpful. 10/10 recommend."

Texas
Review
Real Estate Purchase Agreement
ContractsCounsel User

Review of Real Estate Purchase Agreement in Texas

5.0

"Super responsive and very helpful during the process!"

Texas
Premium
Review
Real Estate Purchase Agreement
ContractsCounsel User

Review Real Estate Purchase Agreement

5.0

"Exactly what I needed! Will use again!"

Indiana
Review
Real Estate Purchase Agreement
ContractsCounsel User

Review Public Offering Statement for Purchase of New Construction Townhome

5.0

"Great review and fast turn around"

Pennsylvania
Premium
Review
Real Estate Purchase Agreement
ContractsCounsel User

Real estate home purchase contract review

5.0

"Ryenne was very prompt. thanks for your help Ryenne."

Utah
Review
Real Estate Purchase Agreement
ContractsCounsel User

Real Estate

Real Estate Contract

Georgia

Asked on Mar 24, 2022

How many years does a quick claim become effective?s

Number of years for quick claim to be effect ive

Meghan T.

Answered Mar 29, 2022

A quit claim deed is effective upon execution so long as the deed is dated as of the date of signature. Execution means that the deed is signed, in front of a witness and a notary. The witness and notary must also sign the deed. Finally, the deed must be recorded. This means that the deed must be submitted to the Superior Court recording office of the County in which the property sits. Please let me know if you have any questions. Thanks, Meghan K Thomas

Read 1 attorney answer>

Real Estate

Real Estate Contract

Illinois

Asked on Mar 27, 2022

what is better to buy land or rent for construction in US?

we are a construction company from Ukraine, we are planning to build a cottage town in the USA

T. Phillip B.

Answered Apr 5, 2022

I suppose it doesn't matter if you have the lease giving you permission and the lease is long enough to justify the building expense when you won't own it. But I'd buy the land so you could eventually sell the property with the building on it.

Read 1 attorney answer>

Real Estate

Real Estate Contract

New York

Asked on Dec 26, 2021

Can you purchase or refinance under a land contract?

I’ve been living here for 2 years. Currently have been working with my credit union and they are having a terrible time trying to understand the legalities of my land contract first off, and secondly they just don’t seem to know what they are doing. It’s been over 8 months, 4 different loan officers and I’m once again waiting for someone else to help finish this thing out. It’s only $60,000 with a $120,000 appraisal. So, as of now I am stuck paying 2.5x monthly under this land contract than I was promised would be an easy mortgage process. So any guidance in the right direction would be very helpful. It’s a New York home. 20 yr fixed, no balloon, with a (brace yourself) 12% apr. HELP ME PLEASE! One month I’m being told to authorize a credit check for a first time homebuyer grant method of mortgaging this property. The next it’s authorizing it for a refinance. I do have earnest money deposits for over $3,000 and another $3000 paid towards principal under this land contract also.

Jane C.

Answered Jan 11, 2022

I suggest you speak with a New York real estate attorney. That attorney needs to review the documents related to the transaction.

Read 1 attorney answer>

Real Estate

Real Estate Contract

Georgia

Asked on Mar 18, 2022

WHAT ARE YOUR FEES TO PERFORM QUIT CLAIM DEED COMPLETE BUTTS COUNTY GEORGIA 30233

SON AND EX

Meghan T.

Answered Mar 29, 2022

Hi. The cost for my practice to prepare a Quit Claim Deed is $99. The Cost for me to handle the closing is $250 plus recording fees. These costs apply for any county within the state of Georgia. Let me know if you have any more questions. Meghan K Thomas

Read 1 attorney answer>
See more legal questions…

Quick, user friendly and one of the better ways I've come across to get ahold of lawyers willing to take new clients.

View Trustpilot Review

Need help with a Real Estate Contract?

Create a free project posting
Clients Rate Lawyers 4.9 Stars
based on 19,188 reviews
Real Estate lawyers by top cities
See All North Carolina Real Estate Lawyers
North Carolina Real Estate Contract lawyers by city
See All Real Estate Contract Lawyers

ContractsCounsel User

Recent Project:
Review Real Estate Contract - URGENT AND NEED TO BE DONE BY 1:00 PM TODAY
Location: Colorado
Turnaround: Less than a week
Service: Contract Review
Doc Type: Real Estate Purchase Agreement
Page Count: 20
Number of Bids: 5
Bid Range: $450 - $2,000

ContractsCounsel User

Recent Project:
Review of Real Estate Purchase Agreement in Texas
Location: Texas
Turnaround: Less than a week
Service: Contract Review
Doc Type: Real Estate Purchase Agreement
Number of Bids: 7
Bid Range: $400 - $750
User Feedback:
Super responsive and very helpful during the process!

Need help with a Real Estate Contract?

Create a free project posting
Clients Rate Lawyers 4.9 Stars
based on 19,188 reviews

Want to speak to someone?

Get in touch below and we will schedule a time to connect!

Request a call

Find lawyers and attorneys by city