North Carolina Quitclaim Deed

A Contract for Deed is used when you want to sell a property in North Carolina and you plan to finance the purchase by allowing the buyer to pay the purchase price over time.

• The Contract for Deed is also called an installment agreement, land sale contract, or purchase money mortgage because the seller is basically assuming the role of a mortgage lender.
• The template contains several alternate payment clauses with different methods of repaying the loan plus interest (if any). Use the clause that reflects your agreement with the buyer, and delete the others.
• The buyer can take possession of the property but the seller remains the owner on the title deed until everything owing under the contract is paid.
• If there is already a mortgage on the property, the seller remains responsible for making the payments.

Owner financing is a great option in cases where the buyer cannot get a conventional mortgage loan. To access the digital file, click 'Add to Cart' and go through the checkout.

Sell a residential NC property with this North Carolina Real Estate Purchase and Sale Agreement.

• Fee Simple Title. The seller is responsible for providing fee simple title to be conveyed by warranty deed to the buyer.
• Forms of Financing. The contract can be used in transactions with new mortgage financing, seller financing and/or assumption of an existing mortgage loan. The contract also contains optional clauses for FHA/VA financing.
• Property Inspection. The buyer has the option to accept the property as is or perform a property inspection.
• Lead Disclosure. The form includes a lead paint disclosure, as required by federal law.
• Default. Provisions setting out the consequences of default by either party.

A Warranty Deed is the most common means of transferring ownership of real estate properties in North Carolina.

• In a warranty deed, the grantor (seller) covenants that:
  • he or she has good and marketable title to the real estate,
  • he or she has the authority and power to transfer the title to the buyer, and
  • he or she will forever defend the buyer's right to possession of the property.
• Available in MS Word format.
• Intended to be used only in the State of North Carolina.