Who needs a Form 2-T, Offer to purchase and contract?
Offer to Purchase is a document which is used as a formal appeal to the property seller asking for a purchase of the property. It should be completed by a private property’s potential buyer. This particular form designed by the North Carolina Association of Realtors to be used for real estate purchase in North Carolina not only as a usual jffer but as the binding contract as well. Once this offer is signed by both parties, this Offer to Purchase shall become a binding contract.
What is Form 2-T, Offer to purchase and contract for?
This document certifies the seriousness of buyer's intentions and shows the amount and the procedure for payment that a buyer is willing to offer for the property. The same document establishes the period of validity of the proposal. The main part of this proposal serves the amount of collateral that the buyer gives to the seller if they accept the offer.
Is Form 2-T, Offer to purchase and contract accompanied by other forms?
No, this form does not require the support of other documents. This form may be a mandatory accompaniment of the final real estate purchase contract.
When is Form 2-T, Offer to purchase and contract due?
Duration of the proposal is specified in a separate line of the document. Failure to comply with the terms specified in the document will invalidate the offer.
How do I fill out Form 2-T, Offer to purchase and contract?
The following paragraphs should be filled out to complete Offer to Purchase:
- Buyer’s personal information;
- Special provisions if any;
- Name of the broker which offered to buy the property;
- Due period;
- Additional terms and conditions if any;
- Receipt of deposit.
Where do I send Form 2-T, Offer to purchase and contract?
Once completed and signed, the offer may be directed to the seller or broker handling the deal.
If the offer is signed by both parties, two copies of it should be kept by each party to the contract.