Buyer intends to obtain funds from the following other source(s) in order to purchase the Property: ____________________ ____________________________________________________________________________________________________ ____________________________________________________________________________________________________
NOTE: Buyer’s obligations under this Contract are not conditioned upon obtaining any loan(s) or other funds from sources other than Buyer’s own assets . Some mortgage loan programs and other programs providing funds for the purchase of property selected by Buyer may impose repair obligations and/or additional conditions or costs upon Seller or Buyer, and more information may be needed. Material changes with respect to funding the purchase of the Property that affect the terms of the contract are material facts that must be disclosed.
(b) Other Property : Buyer DOES DOES NOT have to sell or lease other real property in order to qualify for a new loan or to complete the purchase. (Complete the following only if Buyer DOES have to sell or lease other real property:)
Other Property Address: __________________________________________________________________________________
( Check if applicable ) Buyer's other property IS under contract as of the date of this offer, and a copy of the contract has either been previously provided to Seller or accompanies this offer. (Buyer may mark out any confidential information, such as the purchase price and the buyer’s identity, prior to providing a copy of the contract to Seller.) Failure to provide a copy of the contract shall not prevent this offer from becoming a binding contract; however, SELLER IS STRONGLY ENCOURAGED TO OBTAIN AND REVIEW THE CONTRACT ON BUYER'S PROPERTY PRIOR TO ACCEPTING THIS OFFER. ( Check if applicable ) Buyer’s other property IS NOT under contract as of the date of this offer. Buyer’s property ( check only ONE of the following options ): is listed with and actively marketed by a licensed real estate broker. will be listed with and actively marketed by a licensed real estate broker. Buyer is attempting to sell/lease the Buyer’s Property without the assistance of a licensed real estate broker. NOTE: This Contract is NOT conditioned upon the sale/lease or closing of Buyer’s other property. If the parties agree to make this Contract conditioned on a sale/lease or closing of Buyer's other property, an appropriate contingency addendum should be drafted by a North Carolina real estate attorney and added to this Contract. (c) Performance of Buyer’s Financial Obligations : To the best of Buyer’s knowledge, there are no other circumstances or conditions existing as of the date of this offer that would prohibit Buyer from performing Buyer’s financial obligations in accordance with this Contract, except as may be specifically set forth herein. (d) Residential Property and Owners’ Association Disclosure Statement ( check only one ): Buyer has received a signed copy of the N.C. Residential Property and Owners’ Association Disclosure Statement pri or to making this offer and acknowledges compliance with N.C.G.S. 47E-5 (Residential Property Disclosure Act). Buyer has NOT received a signed copy of the N.C. Residential Property and Owners’ Association Disclosure Statement prior to making this offer and shall have the right to terminate or withdraw this Contract without penalty (including a refund of any Due Diligence Fee) prior to WHICHEVER OF THE FOLLOWING EVENTS OCCURS FIRST: (1) the end of the third calendar day following receipt of the Disclosure Statement; (2) the end of the third calendar day following the Effective Date; or (3) Settlement or occupancy by Buyer in the case of a sale or exchange. Exempt from N.C. Residential Property and Owners’ Association Disclosure Statement because (SEE GUIDELINES):_________________________________________________________________________________________ ______________________________________________________________________________________________________. (e) Mineral and Oil and Gas Rights Mandatory Disclosure Statement ( check only one ): Buyer has received a signed copy of the N.C. Mineral and Oil and Gas Rights Mandatory Disclosure Statement prior to making this offer and acknowledges compliance with N.C.G.S. 47E-5 (Residential Property Disclosure Act). Buyer has NOT received a signed copy of the N.C. Mineral and Oil and Gas Rights Mandatory Disclosure Statement prior to making this offer and shall have the right to terminate or withdraw this Contract without penalty (including a refund of any Due Diligence Fee) prior to WHICHEVER OF THE FOLLOWING EVENTS OCCURS FIRST: (1) the end of the third calendar day following receipt of the Disclosure Statement; (2) the end of the third calendar day following the Effective Date; or (3) Settlement or occupancy by Buyer in the case of a sale or exchange.
Exempt from N.C. Mineral and Oil and Gas Rights Mandatory Disclosure Statement because (SEE GUIDELINES): ________ ________________________________________________________________________________________________________.
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STANDARD FORM 2-T Revised 7/2022 © 7/2022
Buyer ’s initials ______ ______ Seller ’s initials ______ ______
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