Provisional brokers ask it all the time: am I allowed to touch the money? Can a PB sign at the front desk when due diligence or earnest money comes in? Can they deliver it? Stephen Long has good news for the PBs out there. The answer is yes, you absolutely can, with one important limit….
There is a paragraph in the Offer to Purchase and Contract where the buyer discloses whether they need to sell another residence in order to buy. Plenty of buyers, and more than a few brokers, read that box and think they have built in a safety net. Stephen Long wants to set the record straight:…
Since the industry changes that followed the NAR settlement, brokers have a new tool in the toolbox: the showing agreement. It has been a helpful fix, but it has also created some confusion. Stephen Long clears it up with a simple rule: a showing agreement can get you through the front door, but it is…
It is one of the most common questions a broker-in-charge hears: what actually counts as a bedroom? Does it need a closet? Four walls? A door? A window big enough to climb out of? The answer may surprise you, because when it comes to the North Carolina Real Estate Commission, there is no legal definition…
One of the most common assumptions on estate listings is that the seller does not need to complete the Residential Property and Owners Association Disclosure Statement because nobody in the estate ever lived in the home. It sounds reasonable. It is also not correct under North Carolina law. Never Lived There Is Not an Exemption…
One paragraph. One sentence in bold. And more blown-up deals and post-closing fights than almost anything else in the contract.
Meet Paragraph 4(h) of the Offer to Purchase and Contract.
Estate sales sound simple until they are not. One of the most common disclosure failures I see involves probate property and upset bids, and it usually starts with a dangerous phrase: “We are under contract.”
In today’s social-media-driven market, it is tempting to share everything that looks good, shiny, or clickable. Another firm’s listing photos. A slick video walkthrough. A “Coming Soon” post you saw in the MLS. After all…
Electronic delivery of Due Diligence fees is permitted in North Carolina, but convenience does not replace compliance. Venmo, PayPal, Zelle, ACH transfers, and wires can all be used only if the parties agree and the brok…
In North Carolina real estate, unpermitted space is not automatically illegal, but it is always material. The most common culprits are finished basements, bonus rooms over garages, garage conversions, attic finishes, and…
Lockboxes make real estate efficient. They also create risk when they are misused.
When a property is on a septic system, there is only one document that controls the legal number of bedrooms: the septic permit.
