There will be several documents that you will need to cover and eventually sign with your agent as you start this process and I am going to take a little time to go over them with you over the next few posts.
Some of this information may be new to you and some you may be familiar with already. I am going to run on the assumption that this is all new and walk you through the process of buying a home in North Carolina as if you have never done this before, so bear with me!
Here is a list of the most common forms you will see. It is definitely not all of them, but it will give you an idea of what to expect:
- “Working With Real Estate Agents”
- Buyer Agency Agreement
- Offer to Purchase & Contract
- Acknowledgment of Receipt of Monies
- Questions & Answers on Home Inspections
- Professional Services Disclosure & Election
- Due Diligence Request & Agreement
- Agency Agreement Renewal and/or Amendment
Next time, we will start with the document called Working with Real Estate Agents. It defines the role of Realtors whether they are working as an agent for the Sellers, an agent for the Buyers or possibly an agent for both parties in a transaction. It is provided for you by the North Carolina Real Estate Commission. Remember, the Commission exists to protect you and only to protect you, including protecting you from me!
We are required to present this document to you early on in our relationship. I am going to highlight this next sentence because it is so important!
Signing “Working with Real Estate Agents” does not mean you are hiring us!
It only indicates that you have read the document, that your agent has explained it to you and that you understand your rights. If, for any reason, you are uncomfortable signing it, just let your agent know that and they will note it on the form. If we do not present this form to you early on, then the Commission will have to take action against us for not explaining your rights to you. It’s just that simple.