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REAL ESTATE PURCHASE AND SALES CONTRACTS Presented …

REAL ESTATE PURCHASE AND SALES CONTRACTS Presented to the NC LAMP CLE January 24, 2008 The contract for PURCHASE and sale of real ESTATE is often the largest and most important contract entered into by consumers. As a consequence, much time and attention is devoted to the creation of a comprehensive and balanced contract by the North Carolina Bar Association and the North Carolina Association of REALTORS . Through a joint committee of these two organizations, a standard form residential SALES contract has been disseminated for general use in residential real ESTATE transactions in North Carolina.

3 • Vacation Rental Addendum, Form 2A-13 (for use when the property is subject to vacation rental agreements covered by the NC Vacation Rental Act, N.C. Gen. Stat. §§ 42A-1 to -36). The Bar and Realtor Associations also jointly promulgate a commercial contract form, the Agreement for Purchase and Sale of Real Property (Form 580-T).

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