Will Dowd Buyer Handbook

Buyer Agency Handbook

About Us Who We’re the people you want at your side.

Friends at heart. Professionals in practice and mind.

We train our agents to be the best. Then we back them up with a world-class team.

Every agent of ours must meet a certain experience level and criteria to join us.

LO CATI O N

2330 Randolph Road Charlotte, NC 28207 dickensmitchener.com 704.342.1000

Where Charlotte. The Queen City. Our first love.

Our home.

As agents, we know this city’s neighborhoods like our closest circle of friends.

We tend to this relationship as much as we do our connections to you.

Place matters. Knowledge counts.

How Agents who help more people end up better at their jobs. It’s like going to the gym — the more you go, the better your results. This is why we only have full-time, fully committed agents. We train them constantly on the changing market, new tech, negotiation strategies and people skills.

We get to work with top-of-the-line agents. You get what you want, wrapped in the best possible experience.

hello neighbor!

About Me •

As a Charlotte native, Will has deep roots in this community and intimate knowledge of the surrounding neighborhoods.

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Will earned his bachelor’s degree from Jacksonville University while playing Division 1 lacrosse all four years. He continued his education at JU to receive his MBA in Business Administration.

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Will Dowd

R E A LT O R ®/ B R O K E R

Before moving home to pursue his passion for residential real estate, Will worked in manufacturing sales and logistics in Texas and South Florida.

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He lives off Selwyn Road and is a frequent visitor of Reids and Selwyn Pub.

704-634-0460 wdowd@dickensmitchener.com Milestones & Memberships

Fun Facts •

Will has a Black Irish Lab named Kono.

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Will coached the swim team at Charlotte Country Club while in college, and now gives his nephews and nieces swim lessons.

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Canopy Multiple Listing Services

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Canopy REALTOR® Association

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He enjoys travelling, reading, exercising, and visiting the ocean.

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National Association of

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One of his favorite activities is to open water swim in Miami,

REALTORS® •

North Carolina Association of REALTORS®

Wilmington, and San Francisco.

THE IMPORTANCE OF BUYER REPRESENTATION YOUR HOME BUYING ADVOCATE AND TRUSTED ADVISOR Having representation from a Buyer’s Agent is the only way that you can be confident that you have someone looking out for your best interests and allowing you to make informed real estate decisions.

ALIGNMENT WITH A PROFESSIONAL Our high quality reputation is backed by its membership in Leading Real Estate Companies of the World® an invitation only global community in over 70 countries. Membership is awarded to firms based on rigorous standards for service and performance.

UNPARALLELED MARKET KNOWLEDGE Our brokerage is rooted in the communities we serve. We possess deep local knowledge, an understanding of local housing regulations and trends to help you make smarter, informed decisions. We bring an authentic “Main Street” perspective to real estate that many of our competitors cannot claim.

NEGOTIATION WITH MARKET EXPERTISE Understanding your goals, desires and concerns Is fundamental to skillful negotiation, coupled with strong market knowledge and financial acumen.

Your Buyer’s Agent will work on your behalf and negotiate the best possible price and terms for your home purchase.

SERVICES TAILORED TO YOUR NEEDS Our services are distinctive, extensive, and personalized for you, as our longstanding reputation was built on consistently delivering high performance to every client. Our strong local culture is well-aligned with your market-specific needs.

A STREAMLINED PROCESS Your Buyer’s Agent will simplify the process and guide you through the necessary steps making the most efficient use of your time. From your home search and negotiation to contract and closing. These are just some of the steps where your Buyer’s Agent will facilitate.

®

© 2024 Leading Real Estate Companies of the World.

All Rights Reserved. C-Buyer Representation. 05.24

✓ Market Analysis ✓ Lender Pre-Approval ✓ Offer ✓ Negotiation ✓ Contract Review and Approval ✓ Purchase Agreement Finalized ✓ Home Loan Approval

✓ Inspection/Due Diligence ✓ Apply for Home Insurance ✓ Title Exam ✓ Loan Approval ✓ Prepare Finances and Documents for Closing

The Process

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THE PROCESS

The Home Buying Process Step 1

Meet With A Real Estate Broker Discuss the type of home you’re looking for, including style, price and location.

The Real Estate Broker will review Working with Real Estate Agents Disclosure/ and the Exclusive Buyer Agency Agreement with you. You will be asked to sign these agreements to hire our firm to represent you.

Step 2

Get Pre-Approved You will need pay stubs, W2s and bank statements. Knowing what you can afford is critical to a successful home buying experience.

Step 3

Search For Homes The fun part! Your agent will schedule showings and help you find the perfect home.

A DVA N C E D S E A RC H : not all real estate websites are the same. Your real estate professional has tools and systems to ensure you see every available home that meets your criteria.

Step 4

Make An Offer Your agent will prepare the offer based on the price and terms you choose. At this time we will determine who is paying the buyer agency fee: you the Buyer, the Seller, or a combination of the two.

Step 5

Negotiating & Contract Your agent will offer advice on best strategies and negotiate.

D E P O S IT S : Due diligence fee is due immediately upon going under contract, with the Earnest Money due within 5 days.

Step 6

Under Contract You and the seller have agreed to the price and terms.

Step 7

Due Diligence You will hire an attorney and inspector. You will order a survey and appraisal.

Step 8

Preparing For Closing You will be finalizing your loan, reviewing documents and securing your homeowners insurance policy.

Step 9

Closing The transfer of funds and ownership. An attorney typically acts as an independent third party to facilitate the C LO S I N G .

Step 10

Welcome Home!

CONSUMER GUIDE TO WRITTEN BUYER AGREEMENTS Why am I being asked to sign this?

If you’re a homebuyer working with an agent who is a REALTOR®, it means you are working with a professional ethically obligated to work in your best interest. As of August 17, 2024, you will be asked to sign a written buyer agreement after you’ve chosen the professional you want to work with. Here’s what you should know about these agreements: What is a “written buyer agreement?” What does it do? A written buyer agreement is an agreement between you and your real estate professional outlining the services your real estate professional will provide you, and what they will be paid for those services.

Why am I being asked to sign an agreement? Written buyer agreements became a nationwide requirement for many real estate professionals as a part of the National Association of REALTORS®’ proposed settlement of litigation related to broker commissions. The requirement went into effect on August 17, 2024.

Are these agreements new? In some places, yes. Many states have required them for years, while some have not. As a result, it is entirely possible you or others you know have not used them in the recent past. Regardless, they are now a nationwide requirement for many real estate professionals.

Are these agreements negotiable? Yes! You should feel empowered to negotiate any aspect of the agreement with your real estate professional, such as the services you want to receive, the length of the agreement, and the compensation, if any. Compensation between you and your real estate professional is negotiable and not set by law. In the written agreement, the compensation must be clearly defined (e.g., $0, X flat fee, X percent, X hourly rate)—and not open-ended or a range. Only sign an agreement that reflects what you have agreed to with your real estate professional.

How do I benefit from these agreements? These agreements clearly lay out what services you (as a homebuyer) expect your real estate professional to provide, and what your real estate professional will be paid. These agreements make things clear and reduce any potential confusion at the outset of your relationship with your real estate professional.

When do I need to sign an agreement? You will be asked to enter into a written buyer agreement with your real estate professional before “touring” a home with them, either in-person or virtually. If you are simply visiting an open house on your own or asking a real estate professional about their services, you do not need to sign a written buyer agreement.

Does this mean I have to pay my real estate professional out of pocket? Not necessarily. While you are responsible for paying your real estate professional as outlined by your agreement, you can still request, negotiate for, and receive compensation for your real estate professional from the seller or their agent.

Do agreements dictate a specific type of relationship I need to have with my real estate professional? No—you are allowed to enter into any type of business relationship with your real estate professional allowed by state law where you live.

Can I change or exit an agreement? Yes. You and your real estate professional can mutually agree to change your agreement. Agreements may have specific conditions under which they can be exited, so read the text of the agreement and speak with your real estate professional if you would like to change or exit your agreement.

Please visit facts.realtor for more information, and consult your real estate professional or attorney for more information about state law where you live.

REALTORS® are members of the National Association of REALTORS ®

THE PROCESS

Due Diligence Timeline CONTR ACT DATE

Due Diligence Period This is your opportunity to conduct inspections, perform surveys, and work with your lender to arrange financing (if applicable).

Buyer’s Right To Terminate You may terminate your contract during this period for any reason or no reason. If you terminate, you forfeit your due diligence fee only. If you continue to closing, your due diligence fee is credited towards your purchase price.

D U E D I LI G E N C E PE R I OD E N D DATE

After DDP Ends After your DDP ends, you may have several days or weeks before closing (depending on the terms of your contract).

Termination after DDP Ends Should you terminate your contract after your due diligence period ends, you will forfeit both your due diligence fee AND your earnest money deposit.

C LOS I NG DATE

THE PROCESS

Under Contract Guide In order to provide you with the very best service, the following is a guide to let you know what to expect as we move toward closing.

ON C E CONTR ACT IS SIGNED & D E LIVE R E D TO YOU

Immediately proceed with your loan process & inform me of the lender you’ve chosen

D U R I NG D U E D I LI G E N C E PE R I OD

Set file up for closing with an Attorney Perform inspections & specialized evaluations Negotiate repairs with Seller Attorney to perform title search & order a property survey Lender to order appraisal and other HOA documents Review any restrictive covenants, bylaws if applicable Obtain homeowners insurance Confirm your desire to move forward with the contract 2-3 WE E KS B E FOR E C LOS I N G

Arrange for utilities to be connected or transferred for the day of closing (see Convenience List) Schedule re-inspection of repair items and obtain proof complete Determine if you prefer re-inspections or a walk-through and we can schedule those Schedule final walk-through on the day before closing Confirm day and time keys will be released to you Schedule movers & deliveries Schedule appointment to wire funds to Attorney for closing DAY OF C LOS I N G OR DAY B E FOR E C LOS I NG

Perform a final walk-through of your new home Receive and review your Closing Disclosure statement Wire funds to Attorney All Buyers must bring drivers license to close

AF TE R C LOS I NG

Welcome Home!

THE PROCESS

Applying For A Loan Lenders require that you complete several forms for your home loan application. Some of the forms need to be entirely filled out, signed and dated. Others only need to be signed and dated in certain sections.

Below is a list of items that your lender will need from you.

Photo I.D.

Employment history for the past 2 years

Bank statements for the past 2 months

W2’s/1099 for the past 2 years

Pay stubs for past 30 days

Past two years’ federal tax returns

Address history for the past 2 years

Signed copy of offer to purchase & contract

I F APPLI CAB LE :

Gift letter (If you are having someone help you with the down payment)

Divorce decree (if applicable)

Year-to-date profit and loss statement and balance sheet (if self-employed)

Complete bankruptcy documents (if you have declared bankruptcy in the last 10 years)

List of any other properties owned

THE PROCESS

Buying Costs & Fees Below is a list of typical buying costs and definitions. Some charges may not apply to your situation.

Appraisal Fee: $400-$800 varies by loan type and property. Charged by the appraiser for an estimate of the value of the home.

Attorney Fee: $800+ charged by the Closing Attorney providing title search & facilitating closing.

Buyer Agency Fee: This is compensation to our firm for services outlined in the Exclusive Buyer Agency Agreement.

Credit Report: $15-$75, obtained through a credit reporting agency to ascertain the Buyer’s debts, payment habits, etc.

Discount Points: If desired to reduce the interest rate, one point is 1% of the loan amount. They are charged by the Lender as a yield on a certain interest rate.

General Home Inspections: $450+, professional evaluation of the condition of the home.

Homeowners Insurance: Usually 14+ months required at closing for first years worth of coverage plus extra for escrow account.

Loan Origination Fee: Usually 1% of the loan amount, charged by the Lender for processing the loan documents and the closing documents.

Prepaid Interest: Interest is charged at closing for the day of closing plus any days left in the month of closing.

Private Mortgage Insurance: Fees differ depending on percentage of down payment. Required to offset foreclosures on loans with less than 20% down.

Recording Fees (Deeds): $25+ charged to record the legal documents that transfer title to the property.

Real Property Taxes: Annual tax bill will be pro-rated at closing.

Structural Inspection: $500+ if required, checks potential structural defects of the house.

Survey: $500+. Provides plat with lot dimensions, easements, encroachments, setbacks.

Termite Letter: $85-$120, required by the Lender to be certain the home is free from wood destroying insects & pests.

Title Insurance: $2/$1000 of sales price. Protects Buyer from loss sustained by back taxes, liens or encumbrances.

Forms

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This form is required for use in all sales transactions, including residential and commercial.

Working With Real Estate Agents Disclosure (For Buyers) IMPORTANT

PL E

This form is not a contract. Signing this disclosure only means you have received it.

• In a real estate sales transaction, it is important that you understand whether an agent represents you.

• Real estate agents are required to (1) review this form with you at first substantial contact - before asking for or receiving your confidential information and (2) give you a copy of it after you sign it. This is for your own protection.

• Do not share any confidential information with a real estate agent or assume that the agent is acting on your behalf until you have entered into an agreement with the agent to represent you. Otherwise, the agent can share your confidential information with others.

Note to Agent: Check all relationship types below that may apply to this buyer.

________ Buyer Agency: If you agree, the agent who gave you this form (and the agent’s firm) would represent you as a buyer agent and be loyal to you. You may begin with an oral agreement, but your agent must enter into a written buyer agency agreement with you before making a written offer or oral offer for you. The seller would either be represented by an agent affiliated with a different real estate firm or be unrepresented.

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________ Dual Agency: Dual agency will occur if you purchase a property listed by the firm that represents you. If you agree, the real estate firm and any agent with the same firm (company), would be permitted to represent you and the seller at the same time. A dual agent’s loyalty would be divided between you and the seller, but the firm and its agents must treat you and the seller fairly and equally and cannot help you gain an advantage over the other party.*

SA

________ Designated Dual Agency: If you agree, the real estate firm would represent both you and the seller, but the firm would designate one agent to represent you and a different agent to represent the seller. Each designated agent would be loyal only to their client.* *Any agreement between you and an agent that permits dual agency must be put in writing no later than the time you make an offer to purchase. ________ Unrepresented Buyer (Seller subagent): The agent who gave you this form may assist you in your purchase, but will not be representing you and has no loyalty to you. The agent will represent the seller. Do not share any confidential information with this agent.

Note to Buyer: For more information on an agent’s duties and services, refer to the NC Real Estate Commission’s “Questions and Answers on: Working With Real Estate Agents” brochure at ncrec.gov (Publications, Q&A Brochures) or ask an agent for a copy of it.

Buyer’s Signature

Agent’s Name REC. 4.27 • 1/1/2022

Print Name

Buyer’s Signature

Agent’s License No.

Print Name

Firm Name

Date

Phone: 7043421000 Dickens Mitchener & Assoc. Inc, 2330 Randolph Road Charlotte NC 28207 Produced with Lone Wolf Transactions (zipForm Edition) 717 N Harwood St, Suite 2200, Dallas, TX 75201 Dickens Mitchener

Fax: www.lwolf.com

July 2024

Produced with Lone Wolf Transactions (zipForm Edition) 717 N Harwood St, Suite 2200, Dallas, TX 75201 www.lwolf.com

July 2024

Produced with Lone Wolf Transactions (zipForm Edition) 717 N Harwood St, Suite 2200, Dallas, TX 75201 www.lwolf.com

July 2024

Produced with Lone Wolf Transactions (zipForm Edition) 717 N Harwood St, Suite 2200, Dallas, TX 75201 www.lwolf.com

July 2024

Produced with Lone Wolf Transactions (zipForm Edition) 717 N Harwood St, Suite 2200, Dallas, TX 75201 www.lwolf.com

July 2024

Produced with Lone Wolf Transactions (zipForm Edition) 717 N Harwood St, Suite 2200, Dallas, TX 75201 www.lwolf.com

July 2024

EXCLUSIVE BUYER AGENCY AGREEMENT (Listing service rules mandate a written agreement with Buyer before touring a home in-person or virtually.)

This Agreement is between _______________________________________________________________________ (“Buyer”) and __________________________________________________________________________________________ (“Firm”).

1.

Services Provided: Firm will assist Buyer in locating and buying the following real property (describe type and location): ________________________________________________________________________________________________________ _____________________________________________________________________________ (the “Services”). While providing the Services, Firm will represent Buyer as Buyer’s exclusive agent and will act in the best interest of Buyer. Buyer agrees to cooperate with Firm and also agrees that all offers, contracts, negotiations, leads, inspections, appointments, and any other activities in connection with buying property will be facilitated by and through Firm only. Buyer also agrees to comply with closing attorney instructions and any purchase contract. Firm may assign other agents in the Firm to provide the Services at any time. Even though Firm will act in the best interest of Buyer, Buyer understands that Firm may represent other buyers, who may be shown the same property as Buyer.

2.

Buyer Disclosures: Buyer makes the following disclosures and agrees to update them immediately if any changes occur.

Buyer  has  has not signed a buyer agency agreement or other document with another real estate agent or firm. If Buyer has signed any document with another buyer agent – for example, a document allowing Buyer to tour a property – Buyer agrees to give Firm the document(s) or the agent’s contact information so Firm can confirm its ability to provide the Services to Buyer.

b.

Buyer  is  is not working with a relocation company.

c.

Buyer  has  has not received sample copies of the purchase contract and professional services disclosure form.

PL E

a.

3.

Term of Agreement: This Agreement will be effective when signed by Buyer and Firm and will expire either when Buyer purchases property as described in section 1 or at 11:59 p.m. on ___________________________, whichever occurs first.

4.

Fee for Services: Unless otherwise indicated below, Buyer agrees to pay Firm (Check all that apply): 

Fee Earned; Due and Payable: Except for any non-refundable retainer, the fee in this section will be earned by Firm when Buyer enters into a written contract (“Contract”) during the term of this Agreement to buy real property or a new construction as described in section 1. The fee will be due and payable to Firm when Buyer, any authorized assignee of Buyer, or any party authorized by Buyer in the Contract, closes or defaults on the Contract.

SA

a.

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 A non-refundable retainer of $___________________ which will be credited toward Firm’s total compensation  A fee of _____% of the property’s gross sales price  A fee of _____% for new construction property based on the purchase price of the vacant land and the final cost of the completed dwelling  A bonus of % of the Property’s gross sales price or $____________ if offered and paid by a seller or builder.  A flat fee of $  Other Specific Amount: _____________________________________________________________________

b.

Seller Assistance: Buyer may seek compensation from the seller to pay some or all of the fee due in this Agreement. However, Buyer understands that a seller has a no duty to pay Firm’s fee.

c.

Protection Period: If Buyer enters into a Contract within ________ days after this Agreement expires for a property introduced to Buyer by Firm, then the fee in this section 4 will be deemed earned unless Buyer has entered into another agency agreement with another real estate agent or firm. Any fee earned during this Protection Period will be due and payable as provided in section 4(a) of this Agreement.

5.

Negotiable Fee; Additional Compensation: BUYER UNDERSTANDS THAT THE AMOUNT, FORMAT, OR RATE OF REAL ESTATE COMPENSATION IS NOT FIXED BY LAW BUT IS SET BY EACH BROKER OR FIRM INDIVIDUALLY AND IS FULLY NEGOTIABLE. Firm may not receive compensation for the Services from any source that exceeds the amount or rate agreed to herein with Buyer.

6.

Dual Agency: Dual agency occurs when a real estate firm represents both the buyer and the seller in a transaction. Designated dual agency is a specific type of dual agency where a firm will appoint one agent to represent only the interests of the seller and a different agent to represent only the interests of the buyer. Designated dual agency permits a firm to fully advise and advocate for Page 1 of 3 NC REALTORS® Buyer Initials _______ _______

Agent Initials _______

STANDARD FORM 201 Revised 7/2026 © 7/2026

both a buyer and a seller as if the appointed agents were not both affiliated with the same firm. Not every real estate firm offers dual agency or designated dual agency. Authorizations available below may vary.

Terms of Dual Agency: If dual agency is permitted, Buyer understands and agrees to the following: i. Firm will act as Buyer’s exclusive agent up until dual agency occurs. However, in its separate representation of Buyer and a seller, Firm may obtain information which, if disclosed, could harm Buyer’s bargaining position. ii. Buyer will have to make their own decisions as to what terms will be included in an offer to purchase unless designated dual agency is directed by Buyer below. iii. Unless required by law, Firm will not disclose to a seller: that Buyer may agree to a price or contract terms different than what Buyer has offered; Buyer’s motivation for wanting to buy a property; and any other information that Buyer has told Firm is confidential. Firm will similarly not reveal to Buyer the same kind of information as it relates to a seller. iv. Firm will represent Buyer and the seller in a balanced and fair manner, and Firm will assist both parties in their communications regarding the transaction. However, Firm will be limited in its ability to advocate for Buyer, like an exclusive agent would, unless designated dual agency is directed below. v. If designated dual agency is directed, an agent in Firm will not be designated to represent Buyer or the seller if that agent has received confidential information concerning the other party. vi. Buyer has determined that the advantages of dual agency outweigh the disadvantages.

b.

Authorizations: Initial only as applicable below.

PL E

a.

_______ _______ Firm may NOT act as a dual agent in a transaction involving Buyer. _______ _______ Firm may act as a dual agent in a transaction involving Buyer.

If Firm may act as a dual agent, then initial only one line below:

_______ _______ Buyer does authorize the same agent to represent both Buyer and a seller in dual agency. _______ _______ Buyer does NOT authorize the same agent to represent both Buyer and a seller in dual agency. _______ _______ Buyer does NOT authorize the same agent to represent both Buyer and a seller in dual agency and directs Firm to practice designated dual agency. If Buyer directs Firm to practice designated dual agency, then Firm will practice designated dual agency unless: (i) it is not allowed under North Carolina law; or (ii) Buyer authorizes Firm in writing to practice dual agency only.

d.

Waiver: Should Firm become a dual agent, Buyer waives all claims, damages, losses, expenses, and liabilities, other than for violations of the NC Real Estate License Law and intentional wrongful acts arising from Firm’s role as a dual agent.

M

Material Facts: Regardless of whether dual agency is authorized, Firm must disclose any material facts to all parties in a transaction. This duty applies whether Firm is Buyer’s exclusive agent or a dual agent, including designated dual agency.

Surveillance; Photographs; and Video: Buyer understands that some properties may have video, audio, or surveillance devices.

Federal and state laws prohibit the recording of oral communications without consent. However, video surveillance without consent may be permitted. Buyer may take photos or record video as long as Buyer does not intrude on the owner’s reasonable expectation of privacy and owner has not prohibited photography and video. Buyer should only record spaces in plain view. If Buyer were to intrude on an owner’s privacy – for example, if Buyer were to take pictures of a medicine cabinet or inside a desk drawer – then Buyer may be subject to liability. Firm may not have control of pictures or videos of a property that Buyer may purchase, and accordingly, such information will not be removed from public display after Buyer’s purchase.

SA

7.

c.

8.

Other Professional Advice: Buyer is advised to seek other professional advice regarding law, taxes, financing, insurance, surveying, wood destroying insects, structural soundness, engineering, building construction, and other matters related to purchasing real estate. Buyer also should consider seeking legal advice regarding this Agreement. Firm may provide recommendations for these other services, but Firm cannot guarantee the quality or level of expertise. Buyer agrees to hold Firm harmless regarding Buyer’s use of other professional services. Buyer also agrees to fully indemnify Firm if a claim is brought against Firm stemming from Buyer’s use of other professionals or Buyer’s election not to use other professionals.

9.

Inspection Costs: Unless otherwise agreed, Buyer must pay for all inspection costs and other professional services related to purchasing a property including all items in section 8. This duty to pay will apply regardless of whether Buyer closes on a property.

10. Confidentiality: Firm will not disclose the price or other terms of an offer by Buyer to a competing party without the express consent of Buyer. However, sellers may elect not to treat Buyer’s offer as confidential. Sellers may also elect not to disclose other offers and instruct their agent to keep that information confidential.

11. WIRE FRAUD WARNING: Before sending any wire, Buyer should verify the recipient’s phone number independently, and call the recipient to verify the wiring instructions. If Buyer receives wiring instructions for a different bank, branch location, or account name or number, they should be presumed fraudulent. If fraud is at all suspected, do not send any funds, contact the recipient Page 2 of 3 STANDARD FORM 201 Revised 7/2026 Buyer Initials _______ _______ Agent Initials _______ © 7/2026

immediately, and presume that any phone number received in an email from the closing attorney, Firm, another real estate agent, or anyone else is fraudulent. Buyer understands that there are risks associated with wire transfers that are not within the reasonable control of Firm. Buyer agrees to release and discharge Firm and Firm’s agents from all claims not caused by gross negligence relating to a wire transfer associated with the Services.

12. FinCEN Disclosure: FinCEN, the Financial Crimes Enforcement Network, is a bureau of the Department of the Treasury. It investigates and prosecutes financial crimes, and it collects and analyzes transaction data for this purpose, among others. FinCEN’s Residential Real Estate Rule requires certain professionals involved in residential real estate closings, including closing attorneys, to submit reports to FinCEN regarding certain transfers to legal entities or trusts. The rule aims to increase transparency and combat money laundering and terrorism financing, however, it may also increase closing costs.

13. Additional Terms: . If there is a conflict between the terms in this section and any other part of this Agreement, the terms in this section will control. Firm and Buyer may also insert “see attached” and add additional terms with a separate addendum.

PL E

14. Merger; Termination; Modification; Assignment; Enforcement; Attorney’s Fees; and Governing Law: This Agreement represents the entire agreement of the parties hereto. All prior understandings and agreements are merged into this document. This agreement may only be terminated or modified by a written document signed by all parties, and it may not be assigned except by written consent of all parties. In the event of termination, Firm may require reimbursement of fees, costs, and expenses, in addition to other remedies. Subject to statutory limitations, if legal proceedings are instituted to enforce any provision of this agreement, the prevailing party in the proceeding shall be entitled to recover from the non-prevailing party reasonable attorney’s fees and court costs incurred in connection with the proceeding. This agreement is governed by North Carolina law.

15. NONDISCRIMINATION: FIRM SHALL CONDUCT ALL BROKERAGE ACTIVITIES IN REGARD TO THIS AGREEMENT WITHOUT RESPECT TO THE RACE, COLOR, RELIGION, SEX, NATIONAL ORIGIN, HANDICAP, OR FAMILIAL STATUS OF ANY PARTY OR PROSPECTIVE PARTY. FURTHER, REALTORS® HAVE AN ETHICAL DUTY TO CONDUCT SUCH ACTIVITIES WITHOUT RESPECT TO THE SEXUAL ORIENTATION OR GENDER IDENTITY OF ANY PARTY OR PROSPECTIVE PARTY. NC REALTORS® MAKES NO REPRESENTATION AS TO THE LEGAL VALIDITY OR ADEQUACY OF ANY PROVISION OF THIS FORM IN ANY TRANSACTION.

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Buyer: (Name) (Signature) (Date) ____________ Contact: (Phone and Email) __________________________________________________________________________________ Mailing Address: __________________________________________________________________________________________

SA

Buyer: (Name) (Signature) (Date) ____________ Contact: (Phone and Email) __________________________________________________________________________________ Mailing Address: __________________________________________________________________________________________ Entity Buyer: (Name of LLC, Corp., Trust, etc.) __________________________________________________________________ By: (Name & Title)

(Signature)

(Date) ____________

Contact: (Phone and Email) __________________________________________________________________________________ Mailing Address: __________________________________________________________________________________________ Firm: (Name) By: (Agent Signature)

(License Num.) (License Num.)

(Phone) __________________ (Date) ___________________

Office Address: ____________________________________________________________________________________________ Agent Contact: (Phone, Fax, and Email) _________________________________________________________________________

Page 3 of 3 Buyer Initials _______ _______

Agent Initials _______

STANDARD FORM 201 Revised 7/2026 © 7/2026

BUYER AGENT COMPENSATION ADDENDUM (Only use this form when Seller is providing a credit to Buyer in Form 2-T, Form 12-T, or Form 800-T.) “Seller”: “Buyer”: “Property”: This Addendum is attached to and made a part of the Offer to Purchase and Contract (“Contract”) between Seller and Buyer for the Property.

Compensation and Affirmation by Buyer: In addition to any other concessions, credits, or expenses Seller has agreed to pay in the Contract, if any, Seller will pay at Closing $_______________ or _________% of the Purchase Price toward Buyer’s obligation to pay their real estate agent. Buyer affirms that the scope of their agency agreement includes the Property, and that the amount in this paragraph is not more than the amount Buyer has agreed to pay their agent.

2.

Negotiability: Buyer and Seller both affirm that they have an independent, contractual duty to pay their own agent, and that no agent can be a third-party beneficiary of this Contract. Seller understands they have no duty to pay any Buyer Agent Compensation unless agreed to herein. The amount, format, or rate of real estate compensation is not fixed by law and is fully negotiable.

PL E

1.

IN THE EVENT OF A CONFLICT BETWEEN THIS ADDENDUM AND THE CONTRACT, THIS ADDENDUM SHALL CONTROL EXCEPT THAT IN THE CASE OF SUCH A CONFLICT AS TO THE DESCRIPTION OF THE PROPERTY OR THE IDENTITY OF THE BUYER OR SELLER, THE CONTRACT SHALL CONTROL. NC REALTORS® MAKES NO REPRESENTATION AS TO THE LEGAL VALIDITY OR ADEQUACY OF ANY PROVISION OF THIS FORM IN ANY SPECIFIC TRANSACTION. IF YOU DO NOT UNDERSTAND THIS FORM OR FEEL THAT IT DOES NOT PROVIDE FOR YOUR LEGAL NEEDS, YOU SHOULD CONSULT A NORTH CAROLINA REAL ESTATE ATTORNEY BEFORE YOU SIGN IT.

Buyer: (Name)

(Date) ____________

(Signature)

(Date) ____________

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Buyer: (Name)

(Signature)

Entity Buyer: (Name of LLC, Corp., Trust, etc.) __________________________________________________________________ By: (Name & Title)

SA

Seller: (Name) Seller: (Name)

(Signature)

(Date) ____________

(Signature)

(Date) ____________

(Signature)

(Date) ____________

Entity Seller: (Name of LLC, Corp., Trust, etc.) __________________________________________________________________ By: (Name & Title)

NC REALTORS®

(Signature)

(Date) ____________

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STANDARD FORM 220 Revised 7/2026 © 7/2026

Overview of Standard contract form In North Carolina, many real estate agents use the standard “Offer to Purchase and Contract” (form 2-T) for North Carolina residential real property transactions (the “Standard Contract”). The Contract is jointly approved by the NC REALTORS® and the NC Bar Association and is widely used across the State of North Carolina.

This Overview highlights some of the most important aspects of the Standard Contract and the contract process. It is not a substitute for a review of the Standard Contract itself. A real estate agent may assist a buyer or seller in completing a pre-printed sales contract form and is expected to possess a basic understanding about the buyer and seller’s rights and responsibilities under the Standard Contract.

However, if a buyer or seller has questions about the Standard Contract or the adequacy of the form for a specific transaction, they should consult a North Carolina real estate attorney before they sign it.

CONTRACT FORMATION

EARNEST MONEY

When does the Standard Contract become binding?

It is common, but not required, for earnest money, called an “Earnest Money Deposit” in the Standard Contract (“EMD”), to be paid by a buyer as an indication of the buyer’s intention and ability to buy the property. The contract provides that the buyer may negotiate to pay initial and/or additional EMD.

According to the Standard Contract, the contract becomes binding: • when it has been signed by both the offering party and the party to whom the offer has been made, and • the party to whom the offer has been made has communicated that they have signed to the offering party.

Is the contract binding if any fee payable by the buyer hasn’t been delivered?

Yes; however, the buyer’s failure to timely deliver any fee gives the seller the right to terminate the contract if the buyer fails to deliver the fee within one banking day following notice from the seller.

Who holds EMD? The EMD is held in trust by an Escrow Agent (typically a real estate firm representing the seller or buyer or an attorney who will “close” the transaction).

When is the Initial EMD due?

The EMD must be made payable and delivered to the Escrow Agent within 5 days of the Effective Date. If the EMD is not timely delivered, then the seller may demand in writing that the EMD be paid.

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STANDARD FORM 780 Revised 7/2024 © 7/2026

Overview of Standard contract form If the EMD is then not delivered within one banking day, seller may terminate the contract and seek recovery of the Due Diligence Fee (defined below) as well as any EMD that has been paid or is payable.

Refund of EMD The EMD is refunded to the buyer under certain circumstances, including: • buyer’s notification to seller prior to the end of the Due Diligence Period (defined below) that buyer is terminating the contract • seller’s inability to complete the transaction.

Loss of EMD If buyer “breaches” the contract, the EMD is payable to the seller as “liquidated damages,” which means that the seller’s damages will be limited to the amount of the EMD.

Due Diligence Fee Although not required, in many cases a negotiated fee, called the “Due Diligence Fee” (“DDF”) is paid to the seller in exchange for the buyer’s right to terminate the contract during the Due Diligence Period.

• DDF non-refundable. Unlike an EMD, the DDF is paid directly to seller and generally is non-refundable; however, if seller is unwilling or unable to complete the transaction, buyer may be entitled to a refund of the DDF. In the event of a material breach of the contract by seller, recovery of the DDF may be timeconsuming and costly if seller does not voluntarily refund it.

• Credit to purchase price. The DDF will be credited toward the purchase price if buyer completes purchase.

BUYER’S “DUE DILIGENCE” PROCESS The Standard Contract permits the buyer, at buyer’s cost, to investigate the condition of the property and the financial aspects of the transaction (financing, appraisal, insurance, etc.) for an agreed-upon period of time, called the “Due Diligence Period.”

Buyer termination rights Buyer may terminate the contract for any reason or no reason during the Due Diligence Period, but only if the buyer has paid any agreedupon Due Diligence Fee. Unless the buyer has a lawful reason to terminate, such as the seller’s breaching the contract first, the buyer’s terminating the contract after expiration of the Due Diligence Period will be a breach of contract and may result in loss of the EMD.

How much “due diligence” money should be paid?

The amount of any DDF is entirely negotiable between buyer and seller, and is influenced by market forces such as availability of housing inventory, desirability of the property, as well as seller’s motivation to sell the property and buyer’s motivation to buy it.

When is the DDF due and payable?

The DDF is due immediately when the contract becomes effective. If the DDF is not delivered within one banking day after written demand from the seller, seller may terminate the contract and seek recovery of the DDF as well as any EMD that has been paid or is payable.

How long should the Due Diligence Period be?

Like the amount of any DDF, the length of the Due Diligence Period is entirely negotiable between buyer and seller. The Due Diligence Period should be of sufficient length to permit buyer:

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STANDARD FORM 780 Revised 7/2024 © 7/2026

Overview of Standard contract form • to conduct any desired inspections of the property during the Due Diligence Period

terminate the contract. The seller is under no obligation to extend the Due Diligence Period.

• to pursue qualification for any loan that the buyer may obtain, taking into account time needed for an appraisal to be completed, and for the lender to provide sufficient information for the buyer to decide whether to proceed with or terminate the contract.

Access to the property The seller is obligated to provide reasonable access to the property through the entire course of the transaction to the buyer and buyer’s agents and representatives in order for the buyer to conduct buyer’s due diligence.

• to be reasonably satisfied, prior to the end of the Due Diligence Period, that closing on other property the buyer needs to sell in order to qualify for a new loan or to otherwise complete the purchase of the seller’s property will take place prior to the Settlement Date of the Contract with the seller.

BUYER’S SALE OF OTHER PROPERTY

What things should buyer investigate during the Due Diligence Period?

The Standard Contract gives examples of things the buyer should consider investigating during the Due Diligence Period.

May the buyer ask the seller to make any repairs/improvements?

As a result of the buyer’s investigation of the property, the buyer may request that the seller make repairs or improvements. The seller may be willing to negotiate repairs or improvements.

The buyer may also request that the seller give a credit or concession at closing to the buyer instead of performing repairs, subject to lender approval. The seller has no obligation under the contract to agree to any repairs or concessions.

What if the buyer is not satisfied?

If the buyer is not satisfied with the results of the buyer’s Due Diligence or the progress of repair/ improvement negotiations, the buyer is strongly advised, before the end of the Due Diligence Period, to enter into a written agreement with seller to extend the Due Diligence Period or

Sale of buyer’s property is part of the due diligence process.

If the buyer must sell or lease other real property in order to qualify for a new loan or to otherwise complete the purchase of the property from the seller, the buyer should seek to close on the buyer’s other property prior to the end of the Due Diligence Period or be reasonably satisfied prior to the end of the Due Diligence Period that closing on the buyer’s other property will take place prior to the Settlement Date of the contract with the seller.

May the buyer terminate the contract if their property doesn’t close?

After the end of the Due Diligence Period, the buyer does not have a right to terminate the contract if their existing property doesn’t close.

Attorney-drafted contingency The contract states that the buyer must buy the property even if the buyer’s current home does not sell before closing. There are no contingencies in this contract for the sale of buyer’s property or otherwise. If the buyer and seller wish to make their contract contingent on a sale of other property owned by the buyer, an appropriate contingency agreement should be drafted by an NC real estate attorney and added to the

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STANDARD FORM 780 Revised 7/2024 © 7/2026

Overview of Standard contract form contract. It is advisable for a party presented with a contingency drafted by an attorney representing the other party to have the contingency reviewed by their own attorney to ensure that their interests are protected.

Disclosure of need to sell other property Any fact directly affecting a buyer’s ability to complete a transaction, including but not limited to any need to sell and/or close on a current property before the buyer will be able to close on the purchase of the seller’s property, is a material fact that must by law be disclosed by the buyer’s agent. A real estate agent working with a buyer cannot hide any material fact relating to the buyer’s ability to complete the transaction and should not be asked to do so.

FINANCING Part of Due Diligence Process If a buyer intends to finance the purchase of a property and the Standard Contract is used in the transaction, they should pursue qualification for and approval of any loan during the Due Diligence Period.

The buyer should consult with their lender prior to signing the Contract to assure that the Due Diligence Period allows sufficient time for any appraisal to be completed and for the lender to provide sufficient information for the buyer decide whether to proceed with or terminate the transaction.

Lender pre-approval/Appraisal • A buyer should consider seeking pre-approval from a lender prior to writing an offer. A preapproval letter should state that the lender has reviewed the buyer’s credit report, credit worthiness, and cash to close, and pre-

approves the buyer for the loan, subject to an acceptable appraisal of the property.

• Seller may ask the buyer to produce a preapproval letter or request documentation showing the buyer has sufficient funds to buy the property without a loan.

• The appraiser will normally work for the lender, not the buyer. A seller has no obligation to negotiate with the buyer based on the appraiser’s opinion of the property’s value.

CLOSING/CLOSING ATTORNEY Closing “Closing” is defined in the Standard Contract as the completion of the legal process that results in the transfer of the title to the Property from the seller to buyer.

Closing Steps Closing includes a number of steps, including “Settlement.” Settlement is the signing and delivery to the closing attorney of all documents (deed, settlement statement, loan documents, etc.) and all funds necessary to complete the transaction.

Settlement commonly takes place at the closing attorney’s office.

Once Settlement is complete, Closing will occur after the closing attorney performs a title update, receives authorization to disburse funds, and records the deed and any deed of trust as the final step. Unless the parties have agreed otherwise, the buyer is only entitled to receive the keys and take possession of the property after Closing is complete. It is common that Settlement and Closing will occur on the same day, although that is not always the case.

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STANDARD FORM 780 Revised 7/2024 © 7/2026

Overview of Standard contract form What does the closing attorney do?

Among other things, the closing attorney will perform an examination of the property’s title to ensure that the seller can convey clear title to the buyer, obtain title insurance, prepare and/or supervise the execution of all closing documents, and record the deed and any deed of trust (the document the buyer signs pledging the property as collateral for repayment of any loan).

Who pays special assessments?

Unless otherwise agreed by the parties, Special Assessments that are confirmed prior to Settlement must be paid by the seller, including payments that may become due after Settlement if their amount is known. On the other hand, Special Assessments that are under consideration but have not been approved prior to Settlement are the responsibility of the buyer.

Use of attorney It is the position of the NC Bar Association and the NC REALTORS® that all buyers should hire an NC-licensed attorney to perform the closing. A real estate agent may be able to assist the buyer in finding a North Carolina real property attorney.

Delays in Settlement/Closing Sometimes, a party is unable to complete the Settlement by the agreed-upon “Settlement Date.”

Common examples include the buyer’s lender needing more time, or the closing attorney’s discovering a title issue the seller needs to fix.

In such cases, the contract permits the “Delaying Party” up to 7 days after the Settlement Date, without penalty, to complete Settlement and Closing. If parties wish, they can negotiate extensions longer than 7 days, although neither the buyer nor the seller has any obligation to do so.

Who pays the closing attorney?

The Standard Contract provides that the closing attorney is selected and paid by the buyer.

Does the seller need an attorney?

The closing attorney may prepare the deed and all other documents necessary for the seller to perform seller’s obligations under the contract, or the seller may retain their own attorney to prepare the seller’s documents. In either case, the seller will be responsible for paying the attorney.

Who is responsible for costs of Closing?

The Standard Contract allocates responsibility to the buyer and seller for the payment of various costs and fees associated with closing the transaction, including but not limited to real estate taxes, attorneys fees, loan-related costs, dues and fees charged by any owners association or owners association management company, and any “Special Assessments,” which are defined in the Standard Contract as certain charges against the property by a governmental authority or owners association.

Seller Closing Duties The seller has many obligations under the contract as part of turning over possession to the buyer on Closing. The seller must leave on the utilities through Closing (regardless of the time Closing occurs) and deliver the property to the buyer in substantially the same or better condition as when the offer was made. The seller must unpair smart devices, remove any fixtures that do not convey to the buyer, complete any agreed-upon repairs, and remove all personal property and garbage. Seller should consult with their agent to ensure they are fulfilling all their obligations under the contract leading up to and including Closing.

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STANDARD FORM 780 Revised 7/2024 © 7/2026

OFFER TO PURCHASE AND CONTRACT (Consult Standard Form 2G for guidance in completing this form.)

For valuable consideration, the receipt and legal sufficiency of which are hereby acknowledged, Buyer offers to purchase and Seller upon acceptance agrees to sell and convey the Property on the terms and conditions of this Offer to Purchase and Contract and any addendum or modification made in accordance with its terms (together the “Contract”).

1. TERMS AND DEFINITIONS: (a) “Seller”: ______________________________________________________________________________________________ (b) “Buyer”: ______________________________________________________________________________________________ (c) “Property”: The Property includes all real estate in this paragraph, appurtenances thereto, improvements located thereon, and fixtures and personal property in paragraphs 2 and 3 herein. Government authority over taxes, zoning, school districts, utilities, and mail delivery may differ from address.

PL E

Street Address: City: Zip: County: ____________________, NC. Described in whole or part in Deed Book _______ at Page _______.

Lot/Unit _______, Block/Section ________, Subdivision/Condominium Plat Book/Slide ________ at Page(s) ________ PIN/PID: Other Description: The Property  will  will not include a manufactured or mobile home. The Property  will  will not include an off-site and/or separate septic lot, boat slip, garage, parking space, or storage unit. Attach Form 2A11-T if any of these items are included.  Additional parcels described in an attached exhibit or Form 2A10-T and included in the definition of Property herein. (d) “Purchase Price”: $ ____________________________ $ ____________________________

$ ____________________________

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$ ____________________________

To be paid in U.S. Dollars upon the following terms: Due Diligence Fee. Paid to Seller and due on the Effective Date by  cash  personal check  official bank check  wire transfer  electronic transfer (specify payment service: _____________________________).

Initial Earnest Money Deposit. Paid and delivered to Escrow Agent within five days of the Effective Date by  cash  personal check  official bank check  wire transfer  electronic transfer.

Additional Earnest Money Deposit. Paid and delivered to Escrow Agent no later than 5 p.m. on __________________, TIME IS OF THE ESSENCE by  cash  official bank check wire transfer  electronic transfer.

Assumption. Buyer will assume the unpaid principal balance and all obligations of Seller on the existing loan(s). See Loan Assumption Addendum (Form 2A6-T).

Seller Financing. See Seller Financing Addendum (Form 2A5-T).

Building Deposit. See New Construction Addendum (Form 2A3-T).

BALANCE of the Purchase Price at Settlement.

$ ____________________________

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$ ____________________________ $ ____________________________ $ ____________________________

(e) “Seller Concessions”: In addition to Buyer Agent Compensation, if any, Seller shall pay at Settlement $_____________ or __________% of the Purchase Price toward any of Buyer’s other expenses associated with the purchase of the Property, at the discretion of Buyer and/or lender, including FHA/VA lender and inspection costs that Buyer is not permitted to pay, if any. (f) “Due Diligence Period”: (Check only one. Do not insert “N/A”) The period starting on the Effective Date and ending at 5:00 p.m.:  on (date) _______________; OR  ______ days after the Effective Date on the last day of the period. TIME IS OF THE ESSENCE. (g) “Settlement Date”: Settlement will occur no later than (date) ________________________ at a time and place designated by Buyer. (h) “Due Diligence”: Buyer’s opportunity to investigate the Property and the transaction contemplated by this Contract, including but not necessarily limited to the matters described in Paragraph 4 below, to decide whether Buyer, in Buyer’s sole discretion, will proceed with or terminate the transaction. (i) “Due Diligence Fee”: A negotiated amount, if any, paid by Buyer to Seller for Buyer’s right to terminate the Contract for any reason or no reason during the Due Diligence Period. As stated above, the Due Diligence Fee is due on the Effective Date, and it must be delivered to Seller no later than the next banking day following the Effective Date. It shall be the property of Seller upon the Effective Date and shall be a credit to Buyer at Closing.

Page 1 of 14 This form jointly approved by: North Carolina Bar Association NC REALTORS®

Buyer’s initials ______ ______Seller’s initials ______ ______

STANDARD FORM 2-T Revised 7/2026 © 7/2026

The Due Diligence Fee shall be non-refundable unless otherwise provided herein or if Seller materially breaches this Contract including any addendum or amendment hereto. Buyer and Seller each expressly waive any right that they may have to deny the right to conduct Due Diligence or to assert any defense as to the enforceability of this Contract based on the absence or alleged insufficiency of any Due Diligence Fee, it being the intent of the parties to create a legally binding contract for the purchase and sale of the Property without regard to the existence or amount of any Due Diligence Fee. Seller, or Seller’s agent, may direct Buyer in writing to make the Due Diligence Fee payable to a party other than “Seller” as that term is defined herein, and Seller agrees to be bound by such written direction.

See paragraph 23 for a party’s right to attorneys’ fees incurred in collecting the Due Diligence Fee. (j) “Effective Date”: The date that: (1) the last one of Buyer and Seller has signed or initialed this offer or the final counteroffer, if any, and (2) such signing or initialing is communicated to the party making the offer or counteroffer, as the case may be. The parties acknowledge and agree that the initials lines at the bottom of each page of this Contract are merely evidence of their having reviewed the terms of each page, and that the complete execution of such initial lines shall not be a condition of the effectiveness of this Agreement.

The parties further acknowledge that the effectiveness of this Contract is not contingent on Buyer’s payment of any Earnest Money Deposit or Due Diligence Fee. See paragraph 6(a) for Seller’s remedy for any untimely delivered or dishonored funds.

PL E

(k) “Earnest Money Deposit”: The Initial Earnest Money Deposit, the Additional Earnest Money Deposit and any other earnest monies paid or required to be paid in connection with this transaction, collectively the “Earnest Money Deposit,” shall be deposited promptly and held in escrow by Escrow Agent. The Earnest Money Deposit will be credited to Buyer at Closing or disbursed as required by this Contract. In the event of a dispute between Seller and Buyer over the disposition of the Earnest Money Deposit held in escrow, Escrow Agent may remit the Earnest Money Deposit to the clerk of court or otherwise disburse it according to North Carolina Law if the Buyer and Seller cannot resolve the dispute by consent. (l) “Escrow Agent”: (insert name) _________________________________________________________. Buyer and Seller consent to disclosure by the Escrow Agent of any material facts pertaining to the Earnest Money Deposit to the parties to this transaction, their real estate agent(s) and Buyer’s lender(s). THE PARTIES AGREE THAT A REAL ESTATE BROKERAGE FIRM ACTING AS ESCROW AGENT MAY PLACE THE EARNEST MONEY DEPOSIT IN AN INTEREST-BEARING TRUST ACCOUNT AND THAT ANY INTEREST EARNED THEREON SHALL BE DISBURSED TO THE ESCROW AGENT MONTHLY IN CONSIDERATION OF THE EXPENSES INCURRED BY MAINTAINING SUCH ACCOUNT AND RECORDS ASSOCIATED THEREWITH.

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(m) “Settlement”: The proper execution and delivery to the closing attorney of all documents necessary to complete the transaction contemplated by this Contract, including the deed, settlement statement, deed of trust and other loan or conveyance documents, and the closing attorney’s receipt of all funds necessary to complete such transaction. (n) Home Warranty: (Check only one)  None  Buyer will select and Seller will pay for a one-year warranty that costs no more than $___________ including sales tax  Seller has obtained and will provide a one-year warranty from ____________________________ that costs no more than $___________ including sales tax.

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(o) “Closing”: The completion of the legal process which results in the transfer of title to the Property from Seller to Buyer, which includes the following steps: (1) the Settlement (defined above); (2) the completion of a satisfactory title update to the Property following the Settlement; (3) the closing attorney’s receipt of authorization to disburse all necessary funds; and (4) recordation in the appropriate county registry of the deed(s) and deed(s) of trust, if any, which shall take place as soon as reasonably possible for the closing attorney after Settlement. Upon Closing, the proceeds of sale shall be disbursed by the closing attorney in accordance with the settlement statement and the provisions of Chapter 45A of the North Carolina General Statutes. If the title update should reveal unexpected liens, encumbrances or other title defects, or if the closing attorney is not authorized to disburse all necessary funds, then the Closing shall be suspended and the Settlement deemed delayed under paragraph 12 (Delay in Settlement/Closing).

Attorney Closings in North Carolina: The North Carolina State Bar has determined that the performance of most acts and services required for a closing constitutes the practice of law and must be conducted only by an attorney licensed to practice law in North Carolina. State law prohibits unlicensed individuals or firms from rendering legal services or advice. Although non-attorney settlement agents may perform limited services in connection with a closing, they may not perform all the acts and services required to complete a closing. Accordingly, it is the position of the North Carolina Bar Association and NC REALTORS® that all buyers should hire an attorney licensed in North Carolina to perform a closing. (p) “Special Assessments”: A charge against the Property by a governmental authority in addition to ad valorem taxes and recurring governmental service fees levied with such taxes, or by an owners’ association in addition to any regular assessment (dues), either of which may be a lien against the Property. Buyer’s and Seller’s respective responsibilities for the payment of Special Assessments are addressed in paragraphs 6(b) and 8(k).

Page 2 of 14 Buyer’s initials ______ ______ Seller’s initials ______ ______

STANDARD FORM 2-T Revised 7/2026 © 7/2026

2. FIXTURES AND EXCLUSIONS: The parties should not assume that an item will or will not be included in the sale based on a statement or advertisement outside this Contract. See paragraph 19 for details. Buyer and Seller should ensure this paragraph accurately reflects the entire agreement of Buyer and Seller. (a) Fixtures Are Included in Purchase Price: ALL EXISTING FIXTURES ARE INCLUDED IN THE SALE AS PART OF THE PURCHASE PRICE, FREE OF LIENS, UNLESS EXCLUDED IN SUBPARAGRAPHS (d) OR (e). (b) Specified Items: Buyer and Seller agree that the following items, if present on the Property on the date of the offer, shall be included in the sale as part of the Purchase Price free of liens, unless excluded in subparagraphs (d) or (e) below. ALL ITEMS LISTED BELOW INCLUDE BOTH TRADITIONAL AND “SMART” VERSIONS AND ANY EXCLUSIVELY DEDICATED, RELATED EQUIPMENT AND/OR REMOTE CONTROL DEVICES.  Invisible fencing with power supply  Landscape and outdoor trees and plants (except in moveable containers); raised garden; landscape and foundation lighting; outdoor sound systems; permanent irrigation systems; rain barrels; landscape water features; address markers  Mailboxes; mounted package and newspaper receptacles  Mirrors attached to walls, ceilings, cabinets or doors; all bathroom wall mirrors  Swimming pools; spas; hot tubs (excluding inflatable pools, spas, and hot tubs)  Sump-pumps, radon fans and crawlspace ventilators; dehumidifiers that are permanently wired  Surface-mounting brackets for television and speakers; recess-mounted speakers; mounted intercom system  Window/Door blinds and shades; curtain/drapery rods and brackets; door and window screens and combination doors; awnings and storm windows  Water supply equipment, including filters, conditioning and softener systems; re-circulating pumps; well pumps and tanks

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PL E

 Alarm and security systems (attached) for security, fire, smoke, carbon monoxide or other toxins with all related access codes, sensors, cameras, dedicated monitors, hard drives, video recorders, power supplies and cables; doorbells/chimes  All stoves/ranges/ovens; built-in appliances; attached microwave oven; vent hood  Antennas; satellite dishes and receivers  Basketball goals and play equipment (permanently attached or in-ground)  Ceiling and wall-attached fans; light fixtures (including existing bulbs)  Exercise equipment/devices that are attached  Fireplace insert; gas logs or starters; attached fireplace screens; wood or coal stoves  Floor coverings (attached)  Garage door openers  Generators that are permanently wired  Thermostats  Storage shed; utility building  Solar electric and solar water heating systems  Electric vehicle chargers

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(c) Unpairing/deleting data from devices: Prior to Closing, Seller shall “unpair” any devices that will convey from any personal property devices (hubs, intelligent virtual assistants, mobile devices, vehicles, etc.) with which they are paired, delete personal data from any devices that will convey, and restore all devices to factory default settings unless otherwise agreed. Seller’s obligations under this paragraph 2(c) shall survive Closing. (d) Items Leased or Not Owned: Any item which is leased or not owned by Seller, such as antennas, satellite dishes and receivers, appliances, and alarm and security systems must be identified here and shall not convey: ____________________________________________________________________________________________________________ ____________________________________________________________________________________________________________ ____________________________________________________________________________________________________________ In addition, any leased fuel tank identified in paragraph 7(d) shall not convey. Any items leased or not owned by Seller that Seller wishes to convey under certain conditions – for example, if Seller wishes for Buyer to assume a fixture loan before conveying an item – should be addressed in an attorney-drafted addendum after consulting with the lender, if any. (e) Other Items That Do Not Convey: The following items shall not convey (identify those items to be excluded under subparagraphs (a) and (b)): _________________________________________________________________________________________________ ____________________________________________________________________________________________________________ ____________________________________________________________________________________________________________ Seller must repair any damage caused by removal of any items excluded above in a good and workmanlike manner. Seller will notify Buyer upon completion of such repair(s) and provide Buyer with documentation thereof, if any. Buyer is advised to consider attaching the Additional Provisions Addendum (Form 2A11-T) if Buyer has a specific request as to how the repairs should be completed.

Page 3 of 14 Buyer’s initials ______ ______ Seller’s initials ______ ______

STANDARD FORM 2-T Revised 7/2026 © 7/2026

3. PERSONAL PROPERTY: The following personal property present on the Property on the date of the offer shall be transferred to Buyer at closing at no value. Any personal property that is part of the sale should be identified in this paragraph. Buyer is advised to consult with Buyer’s lender to assure that the Personal Property items listed here can be included:

4. BUYER’S DUE DILIGENCE PROCESS: BUYER IS STRONGLY ENCOURAGED TO CONDUCT DUE DILIGENCE DURING THE DUE DILIGENCE PERIOD. If Buyer is not satisfied with the results or progress of Buyer’s Due Diligence, Buyer should terminate this Contract prior to the expiration of the Due Diligence Period, unless Buyer can obtain a written extension from Seller. Seller is not obligated to grant an extension. If Buyer terminates outside the Due Diligence Period, Buyer may lose their Earnest Money Deposit. Buyer may continue to investigate the Property following the expiration of the Due Diligence Period as allowed under paragraphs 4 and 8(c) herein.

PL E

(a) Loan: Buyer, at Buyer’s expense, shall be entitled to pursue qualification for and approval of the Loan if any. There is no loan or appraisal contingency in this Contract. Therefore, Buyer is advised to consult with Buyer’s lender prior to signing this offer to assure that the Due Diligence Period allows sufficient time for the loan process and for Buyer’s lender to provide Buyer sufficient information to decide whether to proceed with or terminate the transaction. (b) Property Investigation: Buyer or Buyer’s agents or representatives, at Buyer’s expense, shall be entitled to conduct all desired tests, surveys, appraisals, investigations, examinations and inspections of the Property as Buyer deems appropriate, including but NOT limited to the following: Inspections: Inspections to determine the condition of any improvements on the Property, the presence of unusual drainage conditions or evidence of excessive moisture adversely affecting any improvements on the Property, the presence of asbestos or existing environmental contamination, evidence of wood-destroying insects or damage therefrom, and the presence and level of radon gas on the Property. (ii) Review of Documents: Review of the Declaration of Restrictive Covenants, Bylaws, Articles of Incorporation, Rules and Regulations, and other governing documents of any applicable owners’ association and/or subdivision. If the Property is subject to regulation by an owners’ association, it is recommended that Buyer review the completed Residential Property and Owners' Association Disclosure Statement provided by Seller prior to signing this offer. It is also recommended that the Buyer determine if the owners’ association or its management company charges fees for providing information required by Buyer’s lender or confirming restrictive covenant compliance. (iii) Insurance: Investigation of the availability and cost of insurance for the Property. (iv) Appraisals: An appraisal of the Property. (v) Survey: A survey to determine whether the property is suitable for Buyer’s intended use and the location of easements, setbacks, property boundaries and other issues which may or may not constitute title defects. (vi) Zoning, Governmental Regulation, and Governmental Compliance: Investigation of current or proposed zoning or other governmental regulation that may affect Buyer’s intended use of the Property, adjacent land uses, planned or proposed road construction, and school attendance zones; and investigation of whether the Property is in violation of any law, ordinance, permit, or government regulation as outlined in paragraph 8(h). (vii) Flood/Wetland/Water Hazard: Investigation of potential flood hazards, wetlands, or other water or riparian issues on the Property; and/or any requirement to purchase flood insurance in order to obtain a loan. (viii) Utilities and Access: Availability, quality, and obligations for maintenance of utilities including water, sewer, electric, gas, communication services, stormwater management, and means of access to the Property and amenities. (ix) Streets/Roads: Investigation of the status of the street/road upon which the Property fronts as well as any other street/road used to access the Property, including: (1) whether any street(s)/road(s) are public or private, (2) whether any street(s)/road(s) designated as public are accepted for maintenance by the State of NC or any municipality, or (3) if private or not accepted for public maintenance, the consequences and responsibility for maintenance and the existence, terms and funding of any maintenance agreements. (x) Special Assessments: Investigation of the existence of Special Assessments that may be under consideration by a governmental authority or an owners’ association.

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(i)

(c) Sale/Lease of Existing Property: As noted in paragraph 5(b), unless otherwise provided in an addendum, this Contract is not conditioned upon the sale/lease or closing of other property owned by Buyer. Therefore, if Buyer must sell or lease other real property in order to qualify for a new loan or to otherwise complete the purchase of the Property, Buyer should seek to close on Buyer’s other property prior to the end of the Due Diligence Period or be reasonably satisfied that closing on Buyer's other property will take place prior to the Settlement Date of this Contract. (d) Repair/Improvement Negotiations/Agreement: Buyer acknowledges and understands the following: (i) Unless the parties agree otherwise, THE PROPERTY IS BEING SOLD IN ITS CURRENT CONDITION; (ii) Seller may, but is not required to, engage in negotiations for repairs/improvements to the Property. Buyer is strongly advised to make any repair/improvement requests in sufficient Page 4 of 14 Buyer’s initials ______ ______ Seller’s initials ______ ______

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time to allow negotiations to be concluded prior to the expiration of the Due Diligence Period. Any agreement that the parties may reach with respect to repairs/improvements is an addition to this Contract that must be in writing and signed by the parties in accordance with Paragraph 19. (e) Buyer’s Obligation to Repair Damage: Buyer shall, at Buyer’s expense, promptly repair any damage to the Property resulting from any activities of Buyer and Buyer’s agents and contractors, but Buyer shall not be responsible for any damage caused by accepted practices either approved by the N.C. Home Inspector Licensure Board or applicable to any other N.C. licensed professional performing reasonable appraisals, tests, surveys, examinations, and inspections of the Property. This repair obligation shall survive any termination of this Contract. (f) Indemnity: Buyer will indemnify and hold Seller harmless from all loss, damage, claims, suits or costs, which shall arise out of any contract, agreement, or injury to any person or property as a result of any activities of Buyer and Buyer’s agents and contractors relating to the Property except for any loss, damage, claim, suit or cost arising out of pre-existing conditions of the Property and/or out of Seller’s negligence or willful acts or omissions. This indemnity shall survive this Contract and any termination hereof.

PL E

(g) Buyer’s Right to Terminate: Provided that Buyer has delivered any agreed-upon Due Diligence Fee, Buyer shall have the right to terminate this Contract for any reason or no reason; by delivering to Seller written notice of termination (the “Termination Notice”) during the Due Diligence Period (or any agreed-upon written extension of the Due Diligence Period), TIME IS OF THE ESSENCE. If Buyer timely delivers the Termination Notice, this Contract shall be terminated and the Earnest Money Deposit shall be refunded to Buyer. (h) CLOSING SHALL CONSTITUTE ACCEPTANCE OF THE PROPERTY IN ITS THEN EXISTING CONDITION UNLESS PROVISION IS OTHERWISE MADE IN WRITING. 5. BUYER REPRESENTATIONS:

(a) Funds to complete purchase: Buyer’s obligations under this Contract are not conditioned on obtaining any loan(s) or other funds from sources other than Buyer’s own assets. Some loans and programs providing funds to Buyer may impose repair obligations or additional conditions or costs upon Seller or Buyer, and more information may be needed. Material changes to funding the purchase of the Property that affect the terms of the contract are material facts that must be disclosed.

OR:

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 Cash. Buyer intends to pay cash in order to purchase the Property and does not intend to obtain a loan or funds from sources other than Buyer’s own assets. If Buyer does not intend to obtain a new loan(s) and/or funds from sources other than Buyer’s own assets, Seller is advised, prior to signing this offer, to obtain documentation from Buyer which demonstrates that Buyer will be able to close on the Property without the necessity of obtaining a loan or funds from sources other than Buyer’s own assets. Verification of cash available for Settlement  is  is not attached.

SA

 Loan(s)/Other Funds. Buyer intends to obtain a loan(s) and/or other funds to purchase the Property from the following sources.

The parties should note that some loans may have repair obligations or other costs on Seller or Buyer.

Check all applicable sources:  First Mortgage Loan: Buyer intends to obtain a first mortgage loan of the following:  FHA  VA (attach FHA/VA Financing Addendum)  Conventional  USDA  Other type: ________________________________________________ ____________________________________________________________________________________________________ in the principal amount of _______________________ plus any financed VA Funding Fee or FHA MIP.  Second Mortgage Loan: Buyer intends to obtain a second mortgage loan as follows:  Other funds: Buyer intends to obtain funds from the following other source(s) in order to purchase the Property: _______ ____________________________________________________________________________________________________ ____________________________________________________________________________________________________

(b) Other Property: This subparagraph is only a disclosure by Buyer and does not make this contract contingent on the sale of Buyer’s other property. If Buyer and Seller wish to make this Contract contingent on the sale of Buyer’s other property, then the parties should attach an attorney-drafted, custom addendum.

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: __________________________________________________________________________________ Page 5 of 14 Buyer’s initials ______ ______ Seller’s initials ______ ______

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 (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. (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):

PL E

 Buyer has received a signed copy of the N.C. Residential Property and Owners’ Association 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. 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):

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 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): ________ ________________________________________________________________________________________________________.

Buyer’s receipt of a Mineral and Oil and Gas Rights Mandatory Disclosure Statement does not modify or limit the obligations of Seller under Paragraph 8(g) of this Contract and shall not constitute the assumption or approval by Buyer of any severance of mineral and/or oil and gas rights, except as may be assumed or specifically approved by Buyer in writing. The parties are advised to consult with a NC attorney prior to signing this Contract if severance of mineral and/or oil and gas rights has occurred.

6. BUYER OBLIGATIONS:

(a) Timely Payment of Earnest Money Deposit and Due Diligence Fee; Dishonored Funds: (i)

(ii)

(iii)

Demand for Payment: Buyer must timely pay the Earnest Money Deposit and Due Diligence Fee. Should Buyer fail to deliver either the Due Diligence Fee or any Initial Earnest Money Deposit by their due dates, or should any check or other funds paid

by Buyer be dishonored, for any reason, by the institution upon which the payment is drawn, Buyer shall have one banking day after written notice to deliver cash, official bank check, wire transfer, or electronic transfer to the payee. Form 355 may be used to demand funds from Buyer.

Termination: In the event Buyer does not timely deliver the required funds, Seller shall have the right to terminate this Contract upon written notice to Buyer, and Seller shall be entitled to recover the Due Diligence Fee together with all Earnest Money Deposit paid or to be paid in the future. In addition, Seller may seek any remedies allowed for dishonored funds. See paragraph 23 for a party’s right to attorneys’ fees incurred in collecting the Earnest Money Deposit or Due Diligence Fee. Cooperation in Electronic Transfers: If Buyer is paying any fee or deposit by electronic or wire transfer, Seller agrees to cooperate in effecting such transfer, including the establishment of any necessary account and providing any necessary information to Buyer. Buyer shall be responsible for additional costs, if any, associated with such transfer.

(b) Responsibility for Special Assessments: Buyer shall take title subject to all Special Assessments that may be approved following Settlement.

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(c) Responsibility for Certain Costs: Buyer shall be responsible for all costs with respect to: (i) any loan obtained by Buyer; (ii) charges by an owners’ association or a management company/vendor as agent of the association under paragraph 9(b) of this Contract; (iii) appraisal; (iv) title search; (v) title insurance; (vi) any fees charged by the closing attorney for the preparation of the Closing Disclosure, Seller Disclosure and any other settlement statement; (vii) recording the deed; and (viii) preparation and recording of all instruments required to secure the balance of the Purchase Price unpaid at Settlement. (d) Authorization to Disclose Information: Buyer authorizes the Buyer’s lender(s), the parties’ real estate agent(s) and closing attorney: (i) to provide this Contract to any appraiser employed by Buyer or by Buyer’s lender(s); and (ii) to release and disclose any buyer’s closing disclosure, settlement statement and/or disbursement summary, or any information therein, to the parties to this transaction, their real estate agent(s) and Buyer’s lender(s). (e) Information for Governmental Reporting: If applicable, Buyer must provide the closing attorney with any information necessary to comply with governmental reporting requirements, including, but not limited to, the Financial Crimes Enforcement Network’s (FinCEN) reporting rule to prevent illegal financial practices.

7. SELLER REPRESENTATIONS:

PL E

(a) Ownership: Seller  has owned the Property for at least one year;  has owned the Property for less than one year; or  does not yet own the Property. (b) Lead-Based Paint (check if applicable):  The Property is residential and was built prior to 1978 (Attach Lead-Based Paint or Lead-Based Paint Hazards Disclosure Addendum, Form 2A9-T). IF A LEAD-BASED PAINT BROCHURE AND DISCLOSURE ARE REQUIRED BUT NOT GIVEN TO BUYER PRIOR TO SELLER’S ACCEPTANCE OF THIS OFFER, BUYER MAY BE ENTITLED TO REMEDIES UNDER FEDERAL LAW. (c) Owners’ Association(s) and Dues: Seller authorizes and directs any owners’ association, any management company of the owners’ association, any insurance company and any attorney who has previously represented the Seller to release to Buyer, Buyer’s agents, representative, closing attorney and/or lender true and accurate copies of the following items affecting the Property, including any amendments: Seller’s statement of account; master insurance policy showing the coverage provided and the deductible amount; Declaration and Restrictive Covenants; Rules and Regulations; Articles of Incorporation; Bylaws of the owners’ association; current financial statement and budget of the owners’ association; parking restrictions and information; and architectural guidelines.

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 Name of Association 1: _________________________________________________________________________whose regular assessments (“dues”) are $_______________ per______________. The name, address and telephone number of the president of the owners’ association or the association manager is: ______________________________________________________.

Owners’ association website address, if any: ________________________________________________________________

SA

 Name of Association 2: _________________________________________________________________________whose regular assessments (“dues”) are $_______________ per______________. The name, address and telephone number of the president of the owners’ association or the association manager is: ______________________________________________________.

Owners’ association website address, if any: ________________________________________________________________

(d) Fuel Tank(s)/Fuel: To the best of Seller’s knowledge, there  is  is not a fuel tank(s) located on the Property. If “yes” complete the following. (i)

Description:

 Tank 1:  currently in use  currently NOT in use  Ownership:  owned  leased. If leased, name and contact information of tank lessor: _________________ ____________________________________________________________________________________________  Location:  above ground  below ground  Type of fuel:  oil  propane  gasoline and/or diesel  other: ______________________________________  Name and contact information of fuel vendor: _____________________________________________________  Tank 2:  currently in use  currently NOT in use  Ownership:  owned  leased. If leased, name and contact information of tank lessor: _________________ ____________________________________________________________________________________________  Location:  above ground  below ground  Type of fuel:  oil  propane  gasoline and/or diesel  other: ______________________________________  Name and contact information of fuel vendor: _____________________________________________________

(ii)

Tank(s) included in sale: Buyer and Seller agree that any tank described above that is owned by Seller shall be included in the sale as part of the Purchase Price free of liens, unless excluded in paragraph 2(d) or 2(e) above.

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(iii)

Fuel: Seller may use fuel in the tank(s) described above through Settlement, but may not otherwise remove the fuel or resell it.

Any fuel remaining in the tank(s) as of Settlement shall be included in the sale as part of the Purchase Price, free of liens.

Seller’s use of fuel in any fuel tank is subject to Seller’s obligation under Paragraph 8(c) to provide working, existing utilities through the earlier of Closing or possession by Buyer.

(iv)

Inspections; Supplier Consent: Buyer shall be entitled to conduct inspections to confirm the existence, type and ownership of any fuel tank located on the Property. Buyer is advised to consult with the owner of any leased fuel tank regarding the terms under which Buyer may lease the tank and obtain fuel. State law provides that it is unlawful for any person, other than the supplier or the owner of a fuel supply tank, to disconnect, interrupt or fill the supply tank with liquefied petroleum gas (LP gas or propane) without the consent of the supplier.

(e) Leases. The Property  is  is not subject to any lease(s). If the Property is subject to a lease, Buyer and Seller should include either the Rental/Income/Investment Property provision in the Additional Provisions Addendum (Standard Form 2A11-T) or the Vacation Rental Addendum (Form 2A13-T) with this offer.

8. SELLER OBLIGATIONS: (a) Evidence of Title and Payoff Statement(s):

(ii)

(iii)

Seller agrees to use best efforts to provide to the closing attorney as soon as reasonably possible after the Effective Date, copies of all title information in possession of or available to Seller, including but not limited to: title insurance policies, attorney’s opinions on title, surveys, covenants, deeds, notes and deeds of trust, leases, and easements relating to the Property.

Seller shall provide to the closing attorney all information needed to obtain a written payoff statement from any lender(s) regarding any security interest in the Property as soon as reasonably possible after the Effective Date, and Seller designates the closing attorney as Seller’s agent with express authority to request and obtain on Seller’s behalf payoff statements and/or shortpay statements from any such lender(s).

As soon as reasonably possible after the Effective Date, Seller shall provide to the closing attorney all information needed to obtain a written statement of Seller’s account from any owners’ association or HOA management company associated with the Property. Seller designates the closing attorney as Seller’s agent with express authority to request and obtain on Seller’s behalf a written statement of Seller’s account as to the Property. Upon request from the closing attorney, Seller shall immediately pay any fees charged by the owners’ association or HOA management company for such written statement.

PL E

(i)

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(b) Authorization to Disclose Information: Seller authorizes: (i) any attorney presently or previously representing Seller to release and disclose any title insurance policy in such attorney's file to Buyer and both Buyer's and Seller's agents and attorneys; (ii) the Property’s title insurer or its agent to release and disclose all materials in the Property's title insurer's (or title insurer's agent's) file to Buyer and both Buyer's and Seller's agents and attorneys and (iii) the closing attorney to release and disclose any seller’s closing disclosure, settlement statement and/or disbursement summary, or any information therein, to the parties to this transaction, their real estate agent(s) and Buyer’s lender(s).

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(c) Access to Property: Seller shall provide reasonable access to the Property through the earlier of Closing or possession by Buyer, including, but not limited to, allowing Buyer and/or Buyer’s agents or representatives, an opportunity to: (i) conduct any Due Diligence, investigations, or inspections; (ii) verify the satisfactory completion of negotiated repairs/improvements; and (iii) conduct a final walkthrough inspection of the Property. Seller’s obligation includes providing existing utilities operating at Seller’s cost, including any connections and de-winterizing. Until the Due Diligence Fee is delivered, physical access to the Property may be limited or denied by Seller. (d) Removal of Seller’s Property: Seller shall remove, by the date possession is made available to Buyer, all personal property which is not a part of the purchase and all garbage and debris from the Property. (e) Settlement Deliverables: If requested by the closing attorney, Seller shall furnish, prior to or at Settlement, the following items in a form satisfactory to Buyer and Buyer’s title insurer, if any: (i)

Affidavit and indemnification agreements or other documents that: (1) cover any potential materialman’s lien under N.C.G.S. § 44A-8 for labor, services, materials, or rental equipment used on the Property within 120 days of Settlement; (2) address the closing attorney’s difficulty in accessing electronic records with the register of deeds and the clerk of court; and (3) allow Buyer to obtain a title insurance policy, subject to the exceptions in paragraph 8(g) below.

(ii)

If Seller is not a foreign person as defined by the Foreign Investment in Real Property Tax Act, Seller will also provide to the closing attorney a non-foreign status certification (pursuant to the Foreign Investment in Real Property Tax Act). If Seller does not provide this certification, Seller acknowledges that there may be withholding as provided by the Internal Revenue Code.

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(f) Designation of Lien Agent, Payment and Satisfaction of Liens: If required by N.C.G.S. §44A-11.1, Seller shall have designated a Lien Agent, and Seller shall deliver to Buyer as soon as reasonably possible a copy of the appointment of Lien Agent. All deeds of trust, deferred ad valorem taxes, liens and other charges against the Property, not assumed by Buyer, must be paid and satisfied by Seller prior to or at Settlement such that cancellation may be promptly obtained following Closing. Seller shall remain obligated to obtain any such cancellations following Closing. (g) Good Title, Legal Access: Seller shall execute and deliver a GENERAL WARRANTY DEED for the Property in recordable form no later than Settlement, which shall convey fee simple marketable and insurable title, without exception for mechanics’ liens, lis pendens, monetary liens and judgments, and free of other encumbrances or defects that would materially affect the value of the Property, including those which would be revealed by a current and accurate survey of the Property, except: (i) ad valorem taxes for the current year; (ii) utility easements and unviolated covenants, conditions or restrictions; and (iii) such other liens, encumbrances or defects as may be specifically approved by Buyer in writing. The Property must have legal access to a public right of way. Buyer’s failure to conduct a survey or examine title of the Property, prior to the expiration of the Due Diligence Period does not relieve the Seller of their obligation to deliver good title under this paragraph.

PL E

(h) Governmental Compliance: It is a condition of this Contract that the Property be conveyed free of any material violation of law, ordinance, permit, or government regulation (including, but not limited to, those relating to building, stormwater, impervious surface, environmental protection, and zoning), unless Seller has specifically disclosed such violation(s) prior to the Effective Date. If Buyer establishes that a violation exists after the Effective Date and prior to Closing, then Buyer must promptly notify Seller and Seller may cure the violation(s). Unless otherwise agreed, if Seller does not cure the violation(s) prior to Closing, then Buyer may choose to accept the violation(s) and proceed to Settlement/Closing or terminate this Contract and receive only a refund of the Earnest Money Deposit and the Due Diligence Fee. (i) Deed, Taxes and Fees: Seller shall pay for preparation of a deed and all other documents necessary to perform Seller’s obligations under this Contract, and for state and county excise taxes, and any deferred, discounted or rollback taxes, and local conveyance fees required by law. The deed may be made to the following with no assignment being necessary: (i) Buyer; (ii) a corporation, limited liability company, or other business entity of which Buyer is the sole owner or shareholder; (iii) a trust for which Buyer is the beneficiary; (iv) any relative of Buyer; and/or (v) Other: (Insert Name(s) Only) _______________________________________________________. (j) Owners’ Association Fees/Charges: Seller shall pay any charges by an owners’ association or a management company/vendor as agent of the association under paragraph 9(a) of this Contract.

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(k) Payment of Special Assessments: Seller shall pay, in full at Settlement, all Special Assessments that are approved prior to Settlement, whether payable in a lump sum or future installments, provided that the amount thereof can be reasonably determined or estimated. The payment of such estimated amount shall be the final payment between the Parties. (l) Late Listing Penalties: All property tax late listing penalties, if any, shall be paid by Seller. (m) Negotiated Repairs/Improvements: Negotiated repairs/improvements shall be made in a good and workmanlike manner and Buyer shall have the right to verify same prior to Settlement.

SA

9. CHARGES BY OWNERS’ ASSOCIATION: Responsibility for payment of charges by an owners’ association or a management company/vendor as agent of the association shall be allocated between Buyer and Seller as follows: (a) Seller shall pay: (i) fee incurred by Seller in completing the Residential Property and Owners’ Association Disclosure Statement, and resale or other certificates related to a proposed sale of the Property; (ii) fees required for confirming Seller’s account payment information on owners’ association dues or assessments for payment or proration, including any expedite fee permitted under N.C. Gen. Stat. § 47F-3-102 that is charged in connection with providing such information; (iii) any fees charged for transferring or updating ownership records of the association; and (iv) any fees other than those fees specifically required to be paid by Buyer under paragraph 9(b) below. (b) Buyer shall pay: (i) charges for providing information required by Buyer’s lender; (ii) charges for working capital contributions, membership fees, or charges imposed for Buyer’s use of the common elements and/or services provided to Buyer in connection with Buyer taking possession of the Property, such as “move-in fees”; and (iii) charges for determining restrictive covenant compliance.

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10. PRORATIONS AND ADJUSTMENTS: Unless otherwise agreed, the following items shall be prorated, with Seller responsible for the prorated amounts of any taxes and dues through the date of Settlement, and Seller entitled to the amount of prorated rents through the date of Settlement, and either adjusted between the parties or paid at Settlement: (a) Taxes on Real Property: Ad valorem taxes and recurring governmental service fees levied with such taxes on real property shall be prorated on a calendar year basis; (b) Taxes on Personal Property: Ad valorem taxes on personal property for the entire year shall be paid by Seller unless the personal property is conveyed to Buyer, in which case, the personal property taxes shall be prorated on a calendar year basis; (c) Rents: Rents, if any, for the Property; (d) Dues: Owners’ association regular assessments (dues) and other like charges.

11. CONDITION OF PROPERTY/RISK OF LOSS:

PL E

(a) Condition of Property at Settlement: If the Property is not in substantially the same or better condition at Closing as on the date of this offer, reasonable wear and tear excepted, Buyer may terminate this Contract by written notice delivered to Seller and the Due Diligence Fee and Earnest Money Deposit shall be refunded to Buyer. If the Property is not in such condition and Buyer does NOT elect to terminate this Contract, Buyer shall be entitled to receive, in addition to the Property, the proceeds of any insurance claim filed by Seller on account of any damage or destruction to the Property. (b) Risk of Loss: The risk of loss or damage by fire or other casualty prior to Closing shall be upon Seller. Seller is advised not to cancel existing insurance on the Property until after confirming recordation of the deed.

12. DELAY IN SETTLEMENT/CLOSING: This paragraph shall apply if one party is ready, willing and able to complete Settlement on the Settlement Date (“Non-Delaying Party”) but it is not possible for the other party to complete Settlement by the Settlement Date (“Delaying Party”). In such event, the Delaying Party shall be entitled to a delay in Settlement and shall give as much notice as possible to the Non-Delaying Party and closing attorney. If the Delaying Party fails to complete Settlement and Closing within seven (7) days of the Settlement Date (including any amended Settlement Date agreed to in writing by the parties), then the Delaying Party shall be in breach and the Non-Delaying Party may terminate this Contract and shall be entitled to enforce any remedies available to such party under this Contract for the breach.

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13. POSSESSION: Possession, including all means of access to the Property and transferable amenities and services (keys including mailbox keys, codes including security codes, garage door openers, electronic devices, etc.), shall be delivered upon Closing as defined in Paragraph 1(o) unless otherwise provided below:  A Buyer Possession Before Closing Agreement is attached (Standard Form 2A7-T)  A Seller Possession After Closing Agreement is attached (Standard Form 2A8-T)  Possession is subject to rights of tenant(s) (Parties should attach either Additional Provisions Addendum (Form 2A11-T) or Vacation Rental Addendum (Form 2A13-T))

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14. ADDENDA: Buyer and Seller should note that real estate brokers cannot draft addenda to this Contract.  Additional Provisions Addendum (Form 2A11-T)  New Construction Addendum (Form 2A3-T)  Additional Signatures Addendum (Form 3-T)  Owners' Association Disclosure Addendum  Back-Up Contract Addendum (Form 2A1-T) (Form 2A12-T)  FHA/VA Financing Addendum (Form 2A4-T)  Seller Financing Addendum (Form 2A5-T)  Lead-Based Paint Or Lead-Based Paint Hazard Addendum (Form 2A9-T)  Short Sale Addendum (Form 2A14-T)  Loan Assumption Addendum (Form 2A6-T)  Vacation Rental Addendum (Form 2A13-T)  Identify other attorney or party drafted addenda: __________________________________________________________________ ____________________________________________________________________________________________________________ 15. ASSIGNMENTS: This Contract may not be assigned without the written consent of all parties except in connection with a taxdeferred exchange, but if assigned by agreement, then this Contract shall be binding on the assignee and assignee’s heirs and successors.

16. TAX-DEFERRED EXCHANGE: In the event Buyer or Seller desires to effect a tax-deferred exchange in connection with the conveyance of the Property, Buyer and Seller agree to cooperate in effecting such exchange; provided, however, that the exchanging party shall be responsible for all additional costs associated with such exchange, and provided further, that a non-exchanging party shall not assume any additional liability with respect to such tax-deferred exchange. Buyer and Seller shall execute such additional documents, including assignment of this Contract in connection therewith, at no cost to the non-exchanging party, as shall be required to give effect to this provision.

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17. PARTIES: This Contract shall be binding upon and shall inure to the benefit of Buyer and Seller and their respective heirs, successors and assigns. As used herein, words in the singular include the plural and the masculine includes the feminine and neuter genders, as appropriate.

18. SURVIVAL: If any provision herein contained which by its nature and effect is required to be observed, kept or performed after the Closing, it shall survive the Closing and remain binding upon and for the benefit of the parties hereto until fully observed, kept or performed.

19. ENTIRE AGREEMENT/RECORDATION: This Contract contains the entire agreement of the parties and there are no representations, inducements or other provisions other than those expressed herein. All changes, additions or deletions hereto must be in writing and signed by all parties. Nothing contained herein shall alter any agreement between a REALTOR® or broker and Seller or Buyer as contained in any listing agreement, buyer agency agreement, or any other agency agreement between them. This Agreement or any memorandum thereof shall not be recorded without the express written consent of Buyer and Seller.

PL E

20. CONDUCT OF TRANSACTION: The parties agree that any action between them relating to the transaction contemplated by this Contract may be conducted by electronic means, including the signing of this Contract by one or more of them and any notice or communication given in connection with this Contract. Any written notice or communication may be transmitted to any mailing address, e-mail address or fax number set forth in the “Notice Information” section below. Any notice or communication to be given to a party herein, and any fee, deposit or other payment to be delivered to a party herein, may be given to the party or to such party’s agent.

Delivery of any notice to a party via means of electronic transmission shall be deemed complete at such time as the sender performs the final act to send such transmission, in a form capable of being processed by the receiving party’s system, to any electronic address provided for such party in the “Notice Information” section below. Seller and Buyer agree that the “Notice Information” and “Acknowledgment of Receipt of Monies” sections below shall not constitute a material part of this Contract, and that the addition or modification of any information therein shall not constitute a rejection of an offer or the creation of a counteroffer.

21. EXECUTION: This Contract may be signed in multiple originals or counterparts, all of which together constitute one and the same instrument.

23. REMEDIES:

M

22. COMPUTATION OF DAYS/TIME OF DAY: Unless otherwise provided, for purposes of this Contract, the term “days” shall mean consecutive calendar days, including Saturdays, Sundays, and holidays, whether federal, state, local or religious. For the purposes of calculating days, the count of “days” shall begin on the day following the day upon which any act or notice as provided in this Contract was required to be performed or made. Any reference to a date or time of day shall refer to the date and/or time of day in the State of North Carolina. A “banking day” in this Contract is every Monday through Friday and excludes Saturdays, Sundays, and holidays observed by the Board of Governors of the Federal Reserve.

SA

(a) Breach by Buyer: In the event of material breach of this Contract by Buyer, Seller shall be entitled to any Earnest Money Deposit.

The payment of any Earnest Money Deposit and any Due Diligence Fee to Seller (without regard to their respective amounts, including zero) together shall serve as liquidated damages (“Liquidated Damages”) and as Seller’s sole and exclusive remedy for such breach, provided that such Liquidated Damages shall not limit Seller’s rights under Paragraphs 4(e) and 4(f) for damage to the Property as well as Seller’s rights under paragraph 6(a) for dishonored funds. It is acknowledged by the parties that the amount of the Liquidated Damages is compensatory and not punitive, such amount being a reasonable estimation of the actual loss that Seller would incur as a result of a breach of this Contract by Buyer. The payment to Seller of the Liquidated Damages shall not constitute a penalty or forfeiture but actual compensation for Seller's anticipated loss, both parties acknowledging the difficulty of determining Seller’s actual damages for such breach (b) Breach by Seller: In the event of material breach of this Contract by Seller, Buyer may (i) elect to terminate this Contract as a result of such breach, and shall be entitled to return of both the Earnest Money Deposit and the Due Diligence Fee, together with the reasonable costs actually incurred by Buyer in connection with Buyer’s Due Diligence (“Due Diligence Costs”), or (ii) elect not to terminate and instead treat this Contract as remaining in full force and effect and seek the remedy of specific performance. (c) Attorneys’ Fees: If legal proceedings are brought by Buyer or Seller against the other to collect the Earnest Money Deposit, Due Diligence Fee, or Due Diligence Costs, the parties agree that a party shall be entitled to recover reasonable attorneys’ fees to the extent permitted under N.C. Gen. Stat. § 6-21.2, and if applicable, N.C. Gen. Stat. § 6-21.3 for dishonored funds. The parties acknowledge and agree that the terms of this Contract with respect to entitlement to the Earnest Money Deposit, Due Diligence Fee, or Due Diligence Costs each constitute an “evidence of indebtedness” pursuant to N.C. Gen. Stat. § 6-21.2.

Page 11 of 14 Buyer’s initials ______ ______ Seller’s initials ______ ______

STANDARD FORM 2-T Revised 7/2026 © 7/2026

NC REALTORS® AND THE NORTH CAROLINA BAR ASSOCIATION MAKE NO REPRESENTATION AS TO THE LEGAL VALIDITY OR ADEQUACY OF ANY PROVISION OF THIS FORM IN ANY SPECIFIC TRANSACTION. IF YOU DO NOT UNDERSTAND THIS FORM OR FEEL IT DOES NOT PROVIDE FOR YOUR LEGAL NEEDS, YOU SHOULD CONSULT A NORTH CAROLINA REAL ESTATE ATTORNEY BEFORE YOU SIGN IT. This offer shall become a binding contract on the Effective Date. Unless specifically provided otherwise, Buyer’s failure to timely deliver any fee, deposit or other payment provided for herein shall not prevent this offer from becoming a binding contract, provided that any such failure shall give Seller certain rights to terminate the contract as described herein or as otherwise permitted by law.

Buyer: (Name)

(Signature)

(Date) ____________

Buyer: (Name)

(Signature)

(Date) ____________

Entity Buyer: (Name of LLC, Corp., Trust, etc.) __________________________________________________________________

Seller: (Name) Seller: (Name)

(Signature)

(Date) ____________

PL E

By: (Name & Title)

(Signature)

(Date) ____________

(Signature)

(Date) ____________

Entity Seller: (Name of LLC, Corp., Trust, etc.) __________________________________________________________________ (Signature)

(Date) ____________

SA

M

By: (Name & Title)

Page 12 of 14 Buyer’s initials ______ ______ Seller’s initials ______ ______

STANDARD FORM 2-T Revised 7/2026 © 7/2026

WIRE FRAUD WARNING Buyer: Before wiring any funds, call the closing attorney’s office and verify instructions. If you receive wiring instructions for a different bank, branch location, or account after verifying with the closing attorney, presume the instructions are fraudulent, do not send funds, and call the closing attorney again immediately.

Seller: If your closing proceeds will be wired, you should provide wiring instructions at Settlement in writing and in the presence of the attorney. If you are unable to attend Settlement, you may be required to send an original notarized directive to the closing attorney’s office with wiring instructions. This may be sent with the deed, lien waiver, and tax forms.

Both Buyer and Seller should independently obtain the closing attorney’s phone number to ensure it is legitimate. Do not rely on a phone number from an email, even from the closing attorney’s office, your real estate agent, or anyone else.

NOTICE INFORMATION

BUYER NOTICE ADDRESS:

PL E

Insert at least one address or electronic delivery address that each party and agent approves for the receipt of any notice in this Contract. Insert “N/A” in spaces not used or approved.

SELLER NOTICE ADDRESS:

Mailing Address: ____________________________________

Mailing Address: _____________________________________

___________________________________________________

____________________________________________________

Buyer Fax#: ________________________________________

Seller Fax#:__________________________________________

Buyer E-mail:_______________________________________

Seller E-mail:_________________________________________

CONFIRMATION OF AGENCY AND NOTICE ADDRESSES FOR AGENTS

Listing Firm Name: ____________________________________

Acting as  Buyer’s Agent  Seller’s (sub)Agent  Dual Agent

Acting as  Seller’s Agent  Dual Agent

Firm License #:_______________________________________

Firm License #:________________________________________

Mailing Address: _____________________________________

Mailing Address: ______________________________________

____________________________________________________

____________________________________________________

SA

M

Selling Firm Name: ___________________________________

Individual Selling Agent: ______________________________  Acting as a Designated Dual Agent (check only if applicable)

Individual Listing Agent:________________________________  Acting as a Designated Dual Agent (check only if applicable)

Selling Agent License #: _______________________________

Listing Agent License #:________________________________

Selling Agent Phone #: ________________________________

Listing Agent Phone #: _________________________________

Selling Agent Fax # :__________________________________

Listing Agent Fax #: ___________________________________

Selling Agent E-mail: _________________________________

Listing Agent E-mail:___________________________________

Page 13 of 14

Buyer’s initials ______ ______ Seller’s initials ______ ______

STANDARD FORM 2-T Revised 7/2026 © 7/2026

OFFER TO PURCHASE AND CONTRACT ACKNOWLEDGMENT OF RECEIPT OF MONIES Seller: ______________________________________________________________________________________________ (“Seller”) Buyer: _____________________________________________________________________________________________ (“Buyer”) Property Address: ___________________________________________________________________________________(“Property”)  LISTING AGENT ACKNOWLEDGMENT OF RECEIPT OF DUE DILIGENCE FEE Paragraph 1(d) of the Offer to Purchase and Contract between Buyer and Seller for the sale of the Property provides for the payment to Seller of a Due Diligence Fee in the amount of $________________, receipt of which Listing Agent hereby acknowledges.

Date_____________________________________

Firm:____________________________________________________

PL E

By:______________________________________________________ (Signature) _________________________________________________________ (Print name)

 SELLER ACKNOWLEDGMENT OF RECEIPT OF DUE DILIGENCE FEE Paragraph 1(d) of the Offer to Purchase and Contract between Buyer and Seller for the sale of the Property provides for the payment to Seller of a Due Diligence Fee in the amount of $________________, receipt of which Seller hereby acknowledges.

Date_____________________________________

Seller: ___________________________________________________ (Signature)

Date_____________________________________

Seller: ___________________________________________________ (Signature)

M

 ESCROW AGENT ACKNOWLEDGMENT OF RECEIPT OF INITIAL EARNEST MONEY DEPOSIT Paragraph 1(d) of the Offer to Purchase and Contract between Buyer and Seller for the sale of the Property provides for the payment to Escrow Agent of an Initial Earnest Money Deposit in the amount of $_______________. Escrow Agent as identified in Paragraph 1(l) of the Offer to Purchase and Contract hereby acknowledges receipt of the Initial Earnest Money Deposit and agrees to hold and disburse the same in accordance with the terms of the Offer to Purchase and Contract.

SA

Date_____________________________________

Firm :____________________________________________________ By:______________________________________________________ (Signature) _________________________________________________________ (Print name)

 ESCROW AGENT ACKNOWLEDGMENT OF RECEIPT OF (ADDITIONAL) EARNEST MONEY DEPOSIT Paragraph 1(d) of the Offer to Purchase and Contract between Buyer and Seller for the sale of the Property provides for the payment to Escrow Agent of an (Additional) Earnest Money Deposit in the amount of $_______________. Escrow Agent as identified in Paragraph 1(l) of the Offer to Purchase and Contract hereby acknowledges receipt of the (Additional) Earnest Money Deposit and agrees to hold and disburse the same in accordance with the terms of the Offer to Purchase and Contract.

Date: ______________________________________

Firm: ____________________________________________________

Time: ____________________ AM  PM

By:______________________________________________________ (Signature) _________________________________________________________ (Print name) Page 14 of 14 STANDARD FORM 2-T Revised 7/2026 © 7/2026

Property Address/Description: Owner’s Name(s): North Carolina law N.C.G.S. 47E requires residential property owners to complete this Disclosure Statement and provide it to the buyer prior to any offer to purchase. There are limited exemptions for completing the form, such as new home construction that has never been occupied. Owners are advised to seek legal advice if they believe they are entitled to one of the limited exemptions contained in N.C.G.S. 47E-2.

An owner is required to provide a response to every question by selecting Yes (Y), No (N), No Representation (NR), or Not Applicable (NA). An owner is not required to disclose any of the material facts that have a NR option, even if they have knowledge of them.

However, failure to disclose latent (hidden) defects may result in civil liability. The disclosures made in this Disclosure Statement are those of the owner(s), not the owner’s broker. ◦ If an owner selects Y or N, the owner is only obligated to disclose information about which they have actual knowledge. If an owner selects Y in response to any question about a problem, the owner must provide a written explanation or attach a report from an attorney, engineer, contractor, pest control operator, or other expert or public agency describing it. ◦ If an owner selects N, the owner has no actual knowledge of the topic of the question, including any problem. If the owner selects N and the owner knows there is a problem or that the owner’s answer is not correct, the owner may be liable for making an intentional misstatement. ◦ If an owner selects NR, it could mean that the owner (1) has knowledge of an issue and chooses not to disclose it; or (2) simply does not know. ◦ If an owner selects NA, it means the property does not contain a particular item or feature.

For purposes of completing this Disclosure Statement: “Dwelling” means any structure intended for human habitation, “Property” means any structure intended for human habitation and the tract of land, and “Not Applicable” means the item does not apply to the property or exist on the property.

OWNERS: The owner must give a completed and signed Disclosure Statement to the buyer no later than the time the buyer makes an offer to purchase property. If the owner does not, the buyer can, under certain conditions, cancel any resulting contract. An owner is responsible for completing and delivering the Disclosure Statement to the buyer even if the owner is represented in the sale of the property by a licensed real estate broker and the broker must disclose any material facts about the property that the broker knows or reasonably should know, regardless of the owner’s response.

The owner should keep a copy signed by the buyer for their records. If something happens to make the Disclosure Statement incorrect or inaccurate (for example, the roof begins to leak), the owner must promptly give the buyer an updated Disclosure Statement or correct the problem. Note that some issues, even if repaired, such as structural issues and fire damage, remain material facts and must be disclosed by a broker even after repairs are made.

BUYERS: The owner’s responses contained in this Disclosure Statement are not a warranty and should not be a substitute for conducting a careful and independent evaluation of the property. Buyers are strongly encouraged to: • Carefully review the entire Disclosure Statement.

• Obtain their own inspections from a licensed home inspector and/or other professional.

DO NOT assume that an answer of N or NR is a guarantee of no defect. If an owner selects N, that means the owner has no actual knowledge of any defects. It does not mean that a defect does not exist. If an owner selects NR, it could mean the owner (1) has knowledge of an issue and chooses not to disclose it, or (2) simply does not know.

BROKERS: A licensed real estate broker shall furnish their seller-client with a Disclosure Statement for the seller to complete in connection with the transaction. A broker shall obtain a completed copy of the Disclosure Statement and provide it to their buyer-client to review and sign. All brokers shall (1) review the completed Disclosure Statement to ensure the seller responded to all questions, (2) take reasonable steps to disclose material facts about the property that the broker knows or reasonably should know regardless of the owner’s responses or representations, and (3) explain to the buyer that this Disclosure Statement does not replace an inspection and encourage the buyer to protect their interests by having the property fully examined to the buyer’s satisfaction.

• Brokers are NOT permitted to complete this Disclosure Statement on behalf of their seller-clients.

• Brokers who own the property may select NR in this Disclosure Statement but are obligated to disclose material facts they know or reasonably should know about the property.

Buyer Initials ________________ Owner Initials ________________ Buyer Initials ________________ Owner Initials ________________

REC 4.22 REV 5/24

1

SECTION A. STRUCTURE/FLOORS/WALLS/CEILING/WINDOW/ROOF Yes

No

NR

A1. Is the property currently owner-occupied?

Date owner acquired the property: If not owner-occupied, how long has it been since the owner occupied the property?

A2. In what year was the dwelling constructed?

A3. Have there been any structural additions or other structural or mechanical changes to the dwelling(s)?

A4. The dwelling’s exterior walls are made of what type of material? (Check all that apply) Brick Veneer

Vinyl

Stone

Fiber Cement

Synthetic Stucco

Concrete

Aluminum

Wood

Asbestos

Other:

Composition/Hardboard

A5. In what year was the dwelling’s roof covering installed?

A6. Is there a leakage or other problem with the dwelling’s roof or related existing damage?

A7. Is there water seepage, leakage, dampness, or standing water in the dwelling’s basement, crawl space, or slab?

A8. Is there an infestation present in the dwelling or damage from past infestations of wood destroying insects or organisms that has not been repaired?

A9. Is there a problem, malfunction, or defect with the dwelling’s: NA Yes

No

NR

NA Yes

No

NR

NA Yes

Foundation

Windows

Attached Garage

Slab

Doors

Fireplace/Chimney

Patio

Ceilings

Interior/Exterior Walls

Floors

Deck

No

NR

Other:

Explanations for questions in Section A (identify the specific question for each explanation):

____________________________________________________________________________________________________________ ____________________________________________________________________________________________________________ ____________________________________________________________________________________________________________ ____________________________________________________________________________________________________________

SECTION B. HVAC/ELECTRICAL Yes

No

NR

B1. Is there a problem, malfunction, or defect with the dwelling’s electrical system (outlets, wiring, panels, switches, fixtures, generator, etc.)?

B2. Is there a problem, malfunction, or defect with the dwelling’s heating and/or air conditioning?

B3. What is the dwelling’s heat source? (Check all that apply; indicate the year of each system manufacture) Furnace [

# of units] Year:

Heat Pump [

Baseboard [

# of bedrooms with units] Year:

Other:

Buyer Initials ________________ Owner Initials ________________ Buyer Initials ________________ Owner Initials ________________

# of units] Year: Year:

REC 4.22 REV 5/24

2

Yes

No

NR

B4. What is the dwelling’s cooling source? (Check all that apply; indicate the year of each system manufacture) Central Forced Air:

Year:

Other:

Year:

Wall/Windows Unit(s):

Year:

B5. What is the dwelling’s fuel source? (Check all that apply) Electricity

Natural Gas

Solar

Propane

Oil

Other:

Explanations for questions in Section B (identify the specific question for each explanation):

____________________________________________________________________________________________________________ ___________________________________________________________________________________________________________ ___________________________________________________________________________________________________________ ___________________________________________________________________________________________________________

SECTION C. PLUMBING/WATER SUPPLY/SEWER/SEPTIC Yes

No

NR

C1. What is the dwelling’s water supply source? (Check all that apply) City/County

Shared well

Community System

Private well

Other:

If the dwelling’s water supply source is supplied by a private well, identify whether the private well has been tested for: (Check all that apply).

Quality

Pressure

Quantity

If the dwelling’s water source is supplied by a private well, what was the date of the last water quality/quantity test?

C2. The dwelling’s water pipes are made of what type of material? (Check all that apply) Copper

Galvanized

Plastic

Polybutylene

Other:

C3. What is the dwelling’s water heater fuel source? (Check all that apply; indicate the year of each system manufacture) Gas: Electric: Solar: Other: C4. What is the dwelling’s sewage disposal system? (Check all that apply) Septic tank with pump

Community system

Connected to City/County System

Septic tank

Drip system

City/County system available

Other:

Straight pipe (wastewater does not go into a septic or other sewer system) *Note: Use of this type of system violates State Law. If the dwelling is serviced by a septic system, how many bedrooms are allowed by the septic system permit?

No Records Available Date the septic system was last pumped:

C5. Is there a problem, malfunction, or defect with the dwelling’s: NA Yes

No

NR

NA Yes

Septic system

Plumbing system (pipes, fixtures, water heater, etc.)

Sewer system

Water supply (water quality, quantity, or pressure)

No

NR

Explanations for questions in Section C (identify the specific question for each explanation):

____________________________________________________________________________________________________________ ___________________________________________________________________________________________________________ ___________________________________________________________________________________________________________ ___________________________________________________________________________________________________________ Buyer Initials ________________ Owner Initials ________________ Buyer Initials ________________ Owner Initials ________________

REC 4.22 REV 5/24

3

SECTION D. FIXTURES/APPLIANCES Yes

No

NR

D1. Is the dwelling equipped with an elevator system?

If yes, when was it last inspected?

Date of last maintenance service: D2. Is there a problem, malfunction, or defect with the dwelling’s: NA Yes No NR

NA Yes No NR

NA Yes No NR

NA Yes No NR

Attic fan, exhaust fan, ceiling fan

Irrigation system

Sump pump

Garage door system

Elevator system or component

Pool/hot tub /spa

Gas logs

Security system

Appliances to be conveyed

TV cable wiring or satellite dish

Central vacuum

Other: _________

Explanations for questions in Section D (identify the specific question for each explanation):

____________________________________________________________________________________________________________ ___________________________________________________________________________________________________________ ___________________________________________________________________________________________________________ ____________________________________________________________________________________________________________

SECTION E. LAND/ZONING Yes

No

NR

E1. Is there a problem, malfunction, or defect with the drainage, grading, or soil stability of the property?

E2. Is the property in violation of any local zoning ordinances, restrictive covenants, or local land-use restrictions (including setback requirements?)

E3. Is the property in violation of any building codes (including the failure to obtain required permits for room additions or other changes/improvements)?

E4. Is the property subject to any utility or other easements, shared driveways, party walls, encroachments from or on adjacent property, or other land use restrictions?

E5. Does the property abut or adjoin any private road(s) or street(s)?

E6. If there is a private road or street adjoining the property, are there any owners’ association or maintenance agreements dealing with the maintenance of the road or street? NA Explanations for questions in Section E (identify the specific question for each explanation):

____________________________________________________________________________________________________________ ____________________________________________________________________________________________________________ ____________________________________________________________________________________________________________ ____________________________________________________________________________________________________________

SECTION F. ENVIRONMENTAL/FLOODING Yes

No

NR

F1. Is there hazardous or toxic substance, material, or product (such as asbestos, formaldehyde, radon gas, methane gas, lead-based paint) that exceed government safety standards located on or which otherwise affect the property?

Buyer Initials ________________ Owner Initials ________________ Buyer Initials ________________ Owner Initials ________________

REC 4.22 REV 5/24

4

Yes

No

NR

F2. Is there an environmental monitoring or mitigation device or system located on the property?

F3. Is there debris (whether buried or covered), an underground storage tank, or an environmentally hazardous condition (such as contaminated soil or water or other environmental contamination) located on or which otherwise affect the property?

F4. Is there any noise, odor, smoke, etc., from commercial, industrial, or military sources that affects the property?

F5. Is the property located in a federal or other designated flood hazard zone?

F6. Has the property experienced damage due to flooding, water seepage, or pooled water attributable to a natural event such as heavy rainfall, coastal storm surge, tidal inundation, or river overflow?

F7. Have you ever filed a claim for flood damage to the property with any insurance provider, including the National Flood Insurance Program?

F8. Is there a current flood insurance policy covering the property?

F9. Have you received assistance from FEMA, U.S. Small Business Administration, or any other federal disaster flood assistance for flood damage to the property?

F10. Is there a flood or FEMA elevation certificate for the property?

NOTE: An existing flood insurance policy may be assignable to a buyer at a lesser premium than a new policy. For properties that have received disaster assistance, the requirement to obtain flood insurance passes down to all future owners. Failure to obtain flood insurance can result in an owner being ineligible for future assistance.

Explanations for questions in Section F (identify the specific question for each explanation):

____________________________________________________________________________________________________________ ____________________________________________________________________________________________________________ ____________________________________________________________________________________________________________ ____________________________________________________________________________________________________________

SECTION G. MISCELLANEOUS Yes

No

NR

G1. Is the property subject to any lawsuits, foreclosures, bankruptcy, judgments, tax liens, proposed assessments, mechanics’ liens, materialmens’ liens, or notices from any governmental agency that could affect title to the property?

G2. Is the property subject to a lease or rental agreement?

G3. Is the property subject to covenants, conditions, or restrictions or to governing documents separate from an owners’ association that impose various mandatory covenants, conditions, and or restrictions upon the lot or unit?

Explanations for question in Section G (identify the specific question for each explanation):

____________________________________________________________________________________________________________ ____________________________________________________________________________________________________________ ____________________________________________________________________________________________________________ ____________________________________________________________________________________________________________ Buyer Initials ________________ Owner Initials ________________ Buyer Initials ________________ Owner Initials ________________

REC 4.22 REV 5/24

5

SECTION H. OWNERS’ ASSOCIATION DISCLOSURE If you answer ‘Yes’ to question H1, you must complete the remaining questions in Section H. If you answered ‘No’ or ‘No Representation’ to question H1, you do not need to answer the remaining questions in Section H.

Yes

No

NR

H1. Is the property subject to regulation by one or more owners’ association(s) including, but not limited to, obligations to pay regular assessments or dues and special assessments?

If “yes,” please provide the information requested below as to each owners’ association to which the property is subject [insert N/A into any blank that does not apply]: a. (specify name) whose regular assessments (“dues”) are $ per .

The name, address, telephone number, and website of the president of the owners’ association or the association manager are: b. (specify name) whose regular assessments (“dues”) are $ per _____________________ .

The name, address, telephone number, and website of the president of the owners’ association or the association manager are: c. Are there any changes to dues, fees, or special assessment which have been duly approved and to which the lot is subject?

If “yes,” state the nature and amount of the dues, fees, or special assessments to which the property is subject: H2. Is there any fee charged by the association or by the association’s management company in connection with the conveyance or transfer of the lot or property to a new owner?

If “yes,” state the amount of the fees: H3. Is there any unsatisfied judgment against, pending lawsuit, or existing or alleged violation of the association’s governing documents involving the property?

If “yes,” state the nature of each pending lawsuit, unsatisfied judgment, or existing or alleged violation: H4. Is there any unsatisfied judgment or pending lawsuits against the association?

If “yes,” state the nature of each unsatisfied judgment or pending lawsuit: Explanations for questions in Section H (identify the specific question for each explanation):

____________________________________________________________________________________________________________ ___________________________________________________________________________________________________________ ___________________________________________________________________________________________________________ ____________________________________________________________________________________________________________

Owner(s) acknowledge(s) having reviewed this Disclosure Statement before signing and that all information is true and correct to the best of their knowledge as of the date signed.

Owner Signature:

Date

Owner Signature:

Date

Buyers(s) acknowledge(s) receipt of a copy of this Disclosure Statement and that they have reviewed it before signing.

Buyer Signature:

Date

Buyer Signature:

Date REC 4.22 REV 5/24

6

PROFESSIONAL SERVICES DISCLOSURE AND ELECTION See Form 760G for instructions on completing this form.

“Client”: __________________________________________________________________________________  Buyer or  Seller “Firm”: “Property”: For each item below, Client should either select or waive the service with their initials. If a service is selected, then indicate who will order it and identify the name of the service provider.

CLOSING SERVICES ____________ Selected Provider Name: ____________ Waived Ordered by:

Appraisal

____________ Selected Provider Name: ____________ Waived Ordered by:

Attorney (Closing/Docs/Title)

____________ Selected Provider Name: ____________ Waived Ordered by:

Home Warranty

____________ Selected Provider Name: ____________ Waived Ordered by:

Mortgage Loan

____________ Selected Provider Name: ____________ Waived Ordered by:

PL E

Accountant/CPA/Tax Advisor

INSURANCE SERVICES

Flood Insurance

____________ Selected Provider Name: ____________ Waived Ordered by:

____________ Selected Provider Name: ____________ Waived Ordered by:

SA

Property Insurance

M

Flood Insurance Program ____________ Selected Provider Name: Elevation Certificate (National) ____________ Waived Ordered by:

INSPECTIONS

Elevator Inspection

____________ Selected Provider Name: ____________ Waived Ordered by:

Engineer Inspection

____________ Selected Provider Name: ____________ Waived Ordered by:

Home Inspection

____________ Selected Provider Name: ____________ Waived Ordered by:

HVAC Inspection

____________ Selected Provider Name: ____________ Waived Ordered by:

Pest Inspection/Report – Wood Destroying Insects (WDIR)

____________ Selected Provider Name: ____________ Waived Ordered by:

Pest Inspection (Pests other than WDIR)

____________ Selected Provider Name: ____________ Waived Ordered by: Page 1 of 3

NC REALTORS® Individual Agent initials _______ Buyer or Seller initials _______ _______

STANDARD FORM 760 Re-Drafted 7/2026 ©7/2026

____________ Selected Provider Name: ____________ Waived Ordered by:

Private Bridge Inspection

____________ Selected Provider Name: ____________ Waived Ordered by:

Private Road Investigation

____________ Selected Provider Name: ____________ Waived Ordered by:

Radon Inspection

____________ Selected Provider Name: ____________ Waived Ordered by:

Re-inspection of Repairs

____________ Selected Provider Name: ____________ Waived Ordered by:

Septic Inspection

____________ Selected Provider Name: ____________ Waived Ordered by:

Sewer Inspection

____________ Selected Provider Name: ____________ Waived Ordered by:

Survey

____________ Selected Provider Name: ____________ Waived Ordered by:

Water Quality Inspection

____________ Selected Provider Name: ____________ Waived Ordered by:

Well Inspection

____________ Selected Provider Name: ____________ Waived Ordered by:

PL E

Pool/Spa Inspection

M

ADDITIONAL SERVICES

___________________________ ____________ Selected Provider Name: ____________ Waived Ordered by:

SA

___________________________ ____________ Selected Provider Name: ____________ Waived Ordered by: ___________________________ ____________ Selected Provider Name: ____________ Waived Ordered by: ___________________________ ____________ Selected Provider Name: ____________ Waived Ordered by: ___________________________ ____________ Selected Provider Name: ____________ Waived Ordered by: ___________________________ ____________ Selected Provider Name: ____________ Waived Ordered by:

Page 2 of 3

Individual Agent initials _______ Buyer or Seller initials _______ _______

STANDARD FORM 760 Re-Drafted 7/2026 ©7/2026

1. Disclaimer: Client understands that Firm cannot give advice in certain matters that may relate to the purchase or sale of the Property, including but not limited to matters of law, taxation, financing, surveying, wood-destroying insect infestation, structural soundness, or engineering. Client acknowledges Firm has recommended that Client consult with a professional for an opinion regarding each service listed above to be performed pursuant to Client’s purchase or sale of the Property. Even if client has indicated above that a particular service is waived or not applicable, Client may elect such service at a later time. ALTHOUGH FIRM MAY PROVIDE BUYER OR SELLER THE NAMES OF PROVIDERS WHO CLAIM TO PERFORM SERVICES IN ONE OR MORE OF THE LISTED AREAS, CLIENT UNDERSTANDS THAT FIRM CANNOT GUARANTEE THE QUALITY OF SERVICE OR LEVEL OF EXPERTISE OF ANY SUCH PROVIDER. 2. Hold Harmless: Client hereby agrees to indemnify and hold Firm harmless from and against any and all liability, claim, loss, damage, suit, or expense that Firm may incur either as a result of Client’s selection and use of any of the listed service providers or Client’s election not to have one or more of the listed services performed.

3. Environmental Inspections: In addition to testing for the presence of radon, consideration should be given to testing the air and any private drinking well water for the presence of other contaminants, including but not limited to, biological, chemical, and radiological contaminants. Client should consult with an air and/or water quality specialist regarding the need for and scope of any such testing.

PL E

4. Surveys: Situations arise all too often that could have been avoided if the buyer had obtained a new survey from a NC registered surveyor. A survey will normally reveal such things as encroachments on the Property from adjacent properties (fences, driveways, etc.); encroachments from the Property onto adjacent properties; road or utility easements crossing the Property; violations of set-back lines; lack of legal access to a public right-of-way; and indefinite or erroneous legal descriptions in previous deeds to the Property.

Although title insurance companies may provide lender coverage without a new survey, the owner’s policy contains an exception for easements, set-backs and other matters which would have been shown on a survey. Many such matters are not public record and would not be included in an attorney’s title examination. In addition, if the buyer does not obtain their own survey, they would have no claim against a surveyor for inaccuracies in a prior survey.

5. Payment: Client agrees to pay the full amount due for any service selected above whether the transaction closes or not.

NC REALTORS® MAKES NO REPRESENTATION AS TO THE LEGAL VALIDITY OR ADEQUACY OF ANY PROVISION OF THIS FORM IN ANY SPECIFIC TRANSACTION. Client: (Name)

(Signature)

(Date) ____________

Client: (Name)

M

Contact: (Phone and Email) __________________________________________________________________________________ Mailing Address: __________________________________________________________________________________________ (Signature)

(Date) ____________

SA

Contact: (Phone and Email) __________________________________________________________________________________ Mailing Address: __________________________________________________________________________________________ Entity Client: (Name of LLC, Corp., Trust, etc.) __________________________________________________________________ By: (Name & Title) (Signature) (Date) ____________ Contact: (Phone and Email) __________________________________________________________________________________ Mailing Address: __________________________________________________________________________________________ Firm: (Name) By: (Agent Signature)

(License Num.) (License Num.)

(Phone) __________________ (Date) ___________________

Office Address: ____________________________________________________________________________________________ Agent Contact: (Phone, Fax, and Email) _________________________________________________________________________

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STANDARD FORM 760 Re-Drafted 7/2026 ©7/2026

Dickens Mitchener Alerts WHAT EVERY BUYER SHOULD KNOW

Wire Fraud

Due Diligence

Only accept wiring instructions directly from the recieving party or their verified office.

The due diligence fee is paid directly to the seller in exchange for the buyer’s right to terminate the contract during the Due Diligence Period

is on the rise

Receive Wiring Instructions

Verify by Phone Call a trusted number to confirm instructions

Fees are non-refundable

Never wire funds based solely on emailed instructions.

Offer Accepted

Before sending any funds, contact the recieving office using a trusted phone number to verify the instructions, or ask your financial institution to verify and complete the wire transfer on your behalf.

Due Diligence Fee Period

1

Buyer Investigation Period

Send Wire with Confidence

Paid directly to seller

This fee is generally nonrefundable (except in the event of a material breach by the seller) Buyers should be confident in their decision before making an offer. Recovering these funds can be difficult, time-consuming, and costly if the seller does not voluntarily issue a refund.

2 Recording Devices

Settlement/ Closing Delays

May be Present Outside the Home

Settlement Date

Up to 7-Day Grace Period Close without penalty

Additional Extensions Must be mutually agreed upon

If either party is unable to close by the agreedupon Settlement Date, for example, due to lender delays or title issues, the contract provides a 7day grace period to complete the closing without penalty.

Any extension beyond the initial 7 days must be mutually agreed upon by both the buyer and seller

3

Inside the Home

Common Areas of the Property

To help ensure a positive showing experience, we recommend discussing confidential or sensitive matters after leaving the property.

Thank you for helping us respect each homeowner’s privacy, security and property.

4

Due Diligence Fee Wiring Instructions Please follow these recommendations below for wiring the Due Diligence Funds:

Contact the Seller directly by phone or text to obtain their wiring instructions. Once contact has been established, we recommend that all further communication regarding the transaction occur through the agents.

Ask the Seller to obtain their official wiring instructions directly from their financial institution and confirm the instructions are for a traditional wire transfer, not an ACH transfer.

The Seller should provide the following information: □ Name(s) on the account □ Mailing address used for the account □ Bank Name □ Bank Address □ Account Number □ Routing Number Ask the seller to text the above information. We do not recommend sending wiring instructions by mail. A screenshot is preferred to help prevent transposed numbers Speak with the seller by phone to verbally verify the wiring instructions recieved by text, including the routing number and the last four digits of the accounting number, before initiating the wire.

Send the wire. *Optional: For larger due diligence deposits, you may choose to send a small test wire (such as $10) and confirm receipt with the Seller before sending the remaining balance.

Never rely on wiring instructions received solely by email, even if the email appears legitimate. Always verify wiring instructions directly with the Seller using a trusted phone number.

Please remain vigilant against wire fraud and follow the recommendations above to help protect your transaction. If you ever have questions or concerns, please contact me immediately.

REMINDER: Dickens Mitchener will never request that you send funds or nonpublic personal information, such as social security numbers, credit card or debit card numbers or bank account and/or routing numbers, by email. If you receive an email message concerning any transaction involving Dickens Mitchener Agents and the email requests that you send funds or provide nonpublic personal information, do not respond to the email and immediately contact Dickens Mitchener by phone. Do not call any phone numbers included in the suspicious email and always look to verify the sender’s email address, as fraudsters may use a similar-looking email to address to impersonate a trusted party.

These recommendations are provided as a best practice to help reduce the risk of wire fraud. While no method can guarantee the security of a wire transfer, following these steps can significantly reduce the risk. If you have any questions about wiring funds, please consult your financial institution before initiating the transfer.

Resources

Love it.

Charlotte, North Carolina & Surrounding Areas

RESOURCES

Homebuyer’s Glossary Appraisal: A written analysis of the estimated value of a property prepared by a qualified Appraiser.

Buyer Agent: Agent who acts solely on the Buyer’s behalf. The Agent has full fudiciary responsibilities, which includes reasonable care, individual loyalty, confidentiality and full disclosure. This means the Agent places the Buyer’s interest above all else.

Buyer Agency Fee: This is compensation to our firm for services outlined in the Exclusive Buyer Agency Agreement.

Private Mortgage Insurance: Fees differ depending on percentage of down payment. Required to offset foreclosures on loans with less than 20% down.

Closing: A meeting at which a sale of a property is finalized by the Buyer signing the mortgage documents paying closing cost and transfer of the deed to the property.

Closing Disclosure: A detailed cash accounting of a real estate transaction showing all cash received, all charges and credits made and all cash paid out in the transaction.

Competitive Market Analysis (CMA): A comparison of the prices of recently sold homes that are similar to the home listed in terms of location, style and amenities.

Contingency: A provision in a contract that requires a certain act to be done or a certain event to occur before the contract becomes binding.

Counteroffer: A new offer made in response to an offer received. It has the effect of rejecting the original offer, which cannot be accepted thereafter unless revived by the offeror.

Deed: A document which, when properly executed, conveys title of real property.

Deed of trust: An instrument used to create a mortgage lien by which the Borrower conveys title to a Trustee, who hold it as security for the benefit of the note holder (the Lender).

Disclosure: By law, a Seller of real property must disclose facts that affect the value or desirability of the property. Unless exempt, the Seller completes and signs specific disclosure forms, including the Residential Property Disclosure Statement, to disclose those material facts.

Due Diligence: The due diligence period in a home purchase contract is the time during which the Buyer conducts any and all inspections of the home that she/he chooses.

Due Diligence Fee: This is a non-refundable fee directly to the Seller in order to have time to inspect, appraise and do their due diligence in determining if they will close on the home.

Earnest Money Deposit: A deposit made by the potential Buyer to show that he/she is serious about buying the house.

Fixture: An item of personal property that has been converted to real property by being permanently affixed.

RESOURCES

Homebuyer’s Glossary Foreclosure: The legal process by which a Mortgage Lender (Mortgagee) or other lien holder obtains a termination of a Mortgage Borrower (Mortgagor’s) equitable right of redemption, either by court order or by operation of law (after following a specific statutory procedure).

Home Inspection: A thorough inspection that evaluates the structural and mechanical condition of a property.

Homeowners Association (HOA): An organized group of homeowners whose members help to regulate and enforce the rules and standards of their respective communities.

HVAC: An acronym for heating, ventilation and air-conditioning.

Loan-to-Value Ratio: The relationship between the amount of the mortgage loan and the value of the real estate being pledged as collateral.

Listing Agent: The person(s) who represents the Seller in the real estate Market Value: The most probable price property will bring in an open market under normal conditions.

Multiple Listing Service (MLS): A marketing organization composed of member Brokers who agree to share their listing agreements with one another in the hope of producing ready, willing and able Buyers for their properties more quickly than they could on their own.

Radon: A naturally occurring inert and radioactive gas formed by the decaying chair of uranium in the earth. It is an odorless, colorless gas and hence, undetectable to the human sense. The particular hazardous chemical can only be detected by correct testing by a professional.

Realtor®: A person who acts as an agent for the sale and purchase of buildings and land; a real estate agent.

Recording: The act of entering or recording documents affecting or conveying interest in real estate in the recorder’s office established in each county. Until it is recorded, a deed or mortgage ordinarily is not effective against subsequent purchasers or mortgages.

Short Sale: A sale of real estate in which the proceeds from selling the property will fall short of the balance of debts secured by liens against the property and the property owner cannot afford to repay the lien’s full amounts, whereby the lien holders agree to release their lien on the real estate and accept less than the amount owed on the debt.

Survey: A drawing or map showing the precise legal boundaries of a property, the location of improvements, easements, rights of way, encroachment and other physical features.

Time is of the essence: A phrase in a contract that requires the performance of a certain act within a stated period of time.

Title Insurance: A policy insuring the owner or mortgagee against loss by reason of defects in the title to a parcel real estate, other than encumbrances, defects and matters specifically excluded by the policy.

M A J O R U T I L I T Y P R OV I D E R S

Settling In Electricity Duke Energy

ElectriCities

EnergyUnited

800-POWERON

919-760-6000

800-522-3793

NC Electric Membership Corp.

Union Power Cooperative

800-662-8835

704-289-3145 800-922-6840

Natural Gas

Cable Television

Dominion Energy

Piedmont Natural Gas

Spectrum

877-776-2427

800-752-7504

855-243-8892

Spectrum

AT&T

Windstream

855-243-8892

855-874-3147

866-445-5880

Telephone

Water/Sewer & Waste Removal Suppliers of water service, sewage, and solid waste removal vary with the counties and municipalities. For details about specific providers that serve your community, contact your municipal or county clerk.

Additional Info / Resources

Supporting our Community

Love it.

Proudly Serving T H E S E O R G A N I Z AT I O N S

Own A Home?

O P E N U P P O S S I B I L I T I E S FO R OT H E R S T H E R E ’ S ST R E N GT H I N N U M B E R S . Never has that been truer than when coming together in the real estate community to combat homelessness.

T H E H O M EOW N E R S I M PACT F U N D, a designated 501(c)3 nonprofit, invites participants who are in the home closing process to make a small donation that adds up to a substantial gift to local organizations working to lift men, women and children out of homelessness. Because when you harness the power of community, you can weather any storm.

HOW IT WORKS If you’re fortunate enough to have a roof over your head, please consider supporting the Homeowners Impact Fund to help others in need. Funds raised are distributed directly to reputable nonprofit organizations that support individuals and families in finding a path out of homelessness.

Every day, you experience the joy of a place to call home.

Every day, more than 3,000 people in the Charlotte area experience homelessness.

Every day, more than 580,000 people across the US experience homelessness.

Together, we can make a difference.

M A K E A N I M PACT Become a supporter by following this link: homeowersimpactfund.org/donate For more information, email info@homeowersimpactfund.org

www.homeownersimpactfund.org We are #InWith10 #AHomeForAll

Thank You