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July 2023 – Summary of July 2023 Residential Forms Changes
The following residential forms have been revised effective July 1, 2023. A summary of the significant changes to each form is included. A marked-up copy of each form showing the exact changes may be viewed by clicking on the name of the form.NC REALTORS® COVID-19 STATUS UPDATES
In light of the current situation, it is important that we provide you with updates on the goings-on in the state’s real estate industry. So, we created the STATUS UPDATE page that we will launch every time we feel that it is necessary to get you important information.
July 2022 – Summary of July 2022 Residential Forms Changes
The following residential forms have been revised effective July 1, 2022. A summary of the significant changes to each form is included. A marked-up copy of each form showing the exact changes may be viewed by clicking on the name of the form.July 2021 – Summary of July 2021 Residential Forms Changes
The following residential forms have been revised effective July 1, 2021. A summary of the significant changes to each form follows the list. A marked-up copy of each form showing the exact changes may be viewed by clicking on the name of the form immediately preceding the summary of the forms. Jointly-Approved Forms (approved by…COVID-19 Q&A
Answers to questions from members across the state regarding the COVID-19 pandemic.
July 2023 – Summary of July 2023 Commercial Forms Changes
The following commercial forms have been revised effective July 1, 2023. A summary of the significant changes to each form is included. A marked-up copy of each form showing the exact changes may be viewed by clicking on the name of the form.July 2023 – Summary of July 2023 Property Management Forms Changes
The following property management forms have been revised effective July 1, 2023. A summary of the significant changes to each form is included. A marked-up copy of each form showing the exact changes may be viewed by clicking on the name of the form.Do all pre-paid inspection charges have to be itemized on the HUD-1?
QUESTION: A radon test was performed on behalf of a buyer during the due diligence period. Even though the test showed 6.0, the buyer did not ask the seller to mitigate for radon. The buyer is concerned that if the radon inspection is paid for at closing, and the payment is referenced on the HUD-1…Can a notice sent electronically be “legal notice” under the standard offer to purchase and contract?
QUESTION: My clients have a fully executed contract (Standard Form 2-T), but the buyers have not timely delivered the agreed upon earnest money deposit and due diligence fee. We know we can send a notice to the buyers demanding that they deliver the funds under paragraph 1(d) of the contract. Does the notice have to…When does the Due Diligence Period end if nothing is written in the “date” blank?
QUESTION: Don’t be mad at me, but my buyer made an offer with no date specified in the blank of paragraph 1(j) of the Offer to Purchase and Contract (Form 2-T), and the seller accepted the offer as written. I thought that if no date was inserted in this particular blank, then the Due Diligence…Committees & Recognition
Committees help shape the direction of NC REALTORS® and its policies. Serving on an NC REALTORS® committee furthers your professional development by providing leadership experience, expanding your professional network, and strengthening your ties within the association. What's more, committee members are directly involved in identifying new opportunities, guiding projects, and offering their expertise.Legal Quiz: A recap of our most popular weekly Q&As (May 2019)
Take our latest quiz on the most popular weekly Q&As.
July 2022 – Summary of July 2022 Commercial Forms Changes
The following commercial forms have been revised effective July 1, 2022. A summary of the significant changes to each form is included. A marked-up copy of each form showing the exact changes may be viewed by clicking on the name of the form.Should all offers include a specific end date for the “Due Diligence Period”?
QUESTION: From time to time, I receive offers in which the buyer's agent has not inserted a date in the blank in paragraph 1(j) of Standard Form 2-T. That blank is used to specify the expiration of the "Due Diligence Period." Instead, these agents insert the words: "30 days after the Effective Date." Should I…Buyer’s Due Diligence Rights if the Due Diligence Fee is Zero
QUESTION: I represent a seller. I just received an Offer to Purchase and Contract on Standard Form 2-T. In paragraph 1(d), on the line designating the Due Diligence Fee, the buyer inserted a zero. In paragraph 1(j), where the Due Diligence Period is defined, the buyer inserted a date that would equate to a roughly…Legal Quiz: Handling Multiple Offers
August 2018 Insight: Legal Q&As on common multiple offer situations