Offer to Purchase And Contract - North Carolina

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.
11. LABOR AN D MATERIAL: Seller sh all furnish at Closing an affidavit and indemnification agreement in form
satisfactory to Buyer showing that all labor and materials, if an y, furnished to th e Property within 120 days prior to
the date of Closing have been paid for and agreeing to indemnify Buyer against all loss from any cause or claim
arising there from.
12. PROPERTY DISCLOSURE:
Buyer has received a signed copy of the N.C. Residential Property Disclosu re Statement prior to the signing of
this Offer to Purchase and Contract.
Buyer has NOT received a signed copy of the N.C. Residential Property Disclosure Statement prior to the signing
of this Offer to Purchase and Contract and shall have the right to terminate or withdraw this contract without penalty
prior to WHI CHE VER OF THE FOLLOW ING EVENTS OCCU RS 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 date the contract
was made; or (3) Closing or occupancy by the Buyer in the case of a sale or exchange.
Exempt from N.C. Residential Property Disclosure Statement because (SEE GUIDELINES)
_____________ _________ _________ _________ ________________________ _________ _________ _________ .
The Property is residential and was built prior to 1978 (Attach Lead-Based Pain t or Lead-Based Paint Hazards
Disclosure Addendum.)
13. PROPERTY IN SPECTION, APPRAISAL, INVESTIGATION (Choose ONLY ON E of the following
Alternatives):
ALTERNATIVE 1:
(a) Property Inspection: Unless otherw ise stated herein, Buyer shall have the option of inspecting, or obtain ing at
Buyer’s expense insp ections, to determine the condition of the Property. Unless otherwise stated herein, it is a
conditio n of this contract that: (i) the bu ilt-in appliances, electrical syste m, plumbing system, heating and cooling
systems, roof coverings (including flashing and gutters), doors and windows, exterior surfaces, structural
components (including foundations, colu mns, chimneys, floors, walls, ceilings and roofs), porches and decks,
fireplaces and flues, crawl space and attic ventilation systems (if any), water and sewer syste ms (public and private),
shall be perfo rming the function for wh ich intended and shall not be in need of immed iate repair; (ii) there shall be
no unusual drain a ge conditions or evidence of excessiv e moisture adversely affecting the structure(s); an d (iii) there
shall be no friable asb e stos or existing environmental contamination. Any insp ections shall be completed and written
notice of necessary repairs shall be given to Seller on or before _____________________ _______. Seller shall
provid e wr itten notice to Buyer of Seller’s response within _______ days of Buyer’s notice. Buyer is advised to
have any insp ections made prior to incurring expenses for Closing and in sufficient time to permit any required
repairs to be completed by Closing.
(b) Wood-Destroying Insects: Unless otherwise stated herein, Buyer shall have the option of obtaining, at Buyer’s
expense, a report from a licensed pest control operator on a standard form in accordance with the regulations of the
North Carolin a Structural Pest Control Commit tee, statin g that as to all structures, except _____________________,
there was no visi bl e evi dence of woo d -de st ro ying insects and containing no indicati o n of vi si bl e damage there from.
The report must be obtained in sufficien t time so as to p ermit treatment, if any, and repairs, if any, to be completed
prior to Closing. All treatment required shall be paid for by Seller and completed prior to Closing, unless otherwise
agreed upon in writing by the parties. The Buyer is advised that the inspection report describ ed in this paragraph
may not always reveal either structural damage or damage caused by agents or organisms other than wood-
destroying insects. If new construction, Seller shall provide a standard warran ty of termite soil treatment.
(c) Repairs: Pursuant to any inspections in (a) and/or (b) above, if any repairs are necessary, Seller shall have the
option of completing them or refusing to complete th em. If Seller elects not to complete the repairs, then Buyer shall
have the option of accepting the Property in its present condition or terminating this contract, in which case all
earnest monies shall be refund ed. Unless otherwise stated herein, any items not covered by (a)(i), (a)(ii), (a)(iii) and
(b) above are excluded from repair negotiations under this con tract.
(d) Radon Insp ection: Buyer shall have the option, at Buyer's expense, to have the Prop erty tested for radon on or
before the date for completion of inspectio ns as set forth in paragraph 13 (a) abov e. The test result shall be deemed
satisfactory to Buyer if it ind icates a radon level of less than 4.0 pico curies per liter of air (as of January 1, 1997,
EPA guidelines reflect an "acceptable" level as anything less than 4.0 pico curies per liter of air). If the test
result exceeds the above-mentione d level, Seller shall have the option of: a) remediating to bring radon level within
the satisfactory range; or b) refusing to remediate. Upon the completion of remediation, Buyer may have a radon test
performed at Seller's expense, and if the test result indicates a radon level less than 4.0 pico curies per liter of air, it
shall be deemed satisfactory to the Buyer. If Seller elects not to remediate, or if remediation is attempted but fails to
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STANDARD FORM 2-T
Buyer Initials ____ ____ Seller Initials ___ _ ____
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