Form 2A2 T PDF Details

When navigating the complexities of real estate transactions, the 2A2 T form, known as the Contingent Sale Addendum, plays a crucial role in scenarios where a buyer's purchase of a seller's property is dependent on the sale of the buyer's own property. This form, a critical addendum to the Offer to Purchase and Contract, outlines the conditions under which the buyer must sell their existing property to proceed with the purchase. It sets forth specific clauses related to the closing contingency for the buyer's property, including the requirement for the buyer to provide a copy of the contract for their property once it goes under contract, and the ability to terminate the purchase contract if the buyer's property sale does not close by the set settlement date. Furthermore, it addresses what happens if the buyer's property contract terminates after the due diligence period or if the buyer's property was not listed for sale by the contract's effective date. Designed to protect both the buyer and seller while ensuring transparency throughout the transaction process, adherence to this form is essential for a smooth transition. Jointly approved by the North Carolina Bar Association and the North Carolina Association of REALTORS®, it underscores the need for legal consultation if any party is unsure about the form's stipulations or how it applies to their specific situation.

QuestionAnswer
Form NameForm 2A2 T
Form Length2 pages
Fillable?No
Fillable fields0
Avg. time to fill out30 sec
Other names2a2 addendum, contingent sale addendum form 2a2 t, nc contingent sale, contingent sale addendum

Form Preview Example

CONTINGENT SALE ADDENDUM

Seller’s Property: _____________________________________________________________________________________________

Seller: ______________________________________________________________________________________________________

Buyer: ______________________________________________________________________________________________________

This Addendum is attached to and made a part of the Offer to Purchase and Contract (“Contract”) between Seller and Buyer for the Seller’s Property.

1.Closing Contingency for Buyer’s Real Property located at: ________________________________________________________

________________________________________________________________________________________ (“Buyer’s Property”):

(a)Contract For Buyer’s Property: If Buyer’s Property is under contract as of the Effective Date of this Contract with Seller

OR goes under contract during the Due Diligence Period of this Contract, then Buyer shall deliver a copy of the contract for Buyer’s property (“Contract for Buyer’s Property”) to Seller and it shall be a condition of this Contract that closing on the sale of Buyer’s Property occurs on or before the Settlement Date of this Contract. If Buyer fails to deliver to Seller a copy of a Contract for Buyer’s Property by the expiration of the Due Diligence Period this Contract shall be null and void and the

Earnest Money Deposit shall be refunded to Buyer. In any instance when Buyer is providing to Seller a copy of a Contract for Buyer’s Property, Buyer may mark out any confidential information, such as the purchase price and the buyer’s identity, prior to providing the copy to Seller.

(b)Closing on Contract For Buyer’s Property: If there is a Contract For Buyer’s Property, but the closing on the sale of Buyer’s Property has not occurred by the Settlement Date of this Contract, then Buyer may terminate this Contract within three days following the Settlement Date of this Contract by written notice to Seller, TIME BEING OF THE ESSENCE, and the Earnest Money Deposit shall be refunded to Buyer,

(WARNING: If Buyer does not terminate this Contract as set out in (b) above, and Buyer fails to timely complete

Settlement and Closing as provided in Paragraph 13 of this Contract, Buyer risks the loss of the Earnest Money Deposit).

2.Termination of Contract for Buyer’s Property. If, following the expiration of the Due Diligence Period of this Contract, any Contract for Buyer’s Property previously delivered to Seller terminates for any reason, Buyer shall promptly provide Seller written notice and reasonable documentation of such termination. In the event of any such termination, then either party may terminate this Contract by written notice to the other party and the Earnest Money Deposit shall be refunded to Buyer.

3.Listing of Buyer’s Property for Sale. If Buyer has not entered into a Contract For Buyer’s Property as of the Effective Date of this Contract, Buyer’s Property (check only ONE of the following options):

is listed with___________________________________________________________________________________________

will be listed on or before _______________________ with ____________________________________________________

Buyer is attempting to sell the Buyer’s Property without the assistance of a real estate broker.

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 SELLER’S

PROPERTY OR THE IDENTITY OF THE BUYER OR SELLER, THE CONTRACT SHALL CONTROL.

Page 1 of 2

 

This form jointly approved by:

STANDARD FORM 2A2–T

North Carolina Bar Association

Revised 7/2011

North Carolina Association of REALTORS®, Inc.

© 7/2012

Buyer initials _______ _______ Seller initials _______

______

THE NORTH CAROLINA ASSOCIATION OF REALTORS®, INC. 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 THAT IT DOES NOT PROVIDE FOR YOUR LEGAL NEEDS, YOU SHOULD CONSULT A NORTH CAROLINA REAL ESTATE ATTORNEY BEFORE YOU SIGN IT.

Date ______________________________________

Date _______________________________________

Buyer:______________________________________(SEAL)

Seller:_______________________________________(SEAL)

Date ______________________________________

Date _______________________________________

Buyer:______________________________________(SEAL)

Seller:_______________________________________(SEAL)

Date ______________________________________

Date _______________________________________

Buyer:______________________________________(SEAL)

Seller:_______________________________________(SEAL)

Page 2 of 2

STANDARD FORM 2A2–T Revised 7/2011 © 7/2012

How to Edit Form 2A2 T Online for Free

You can complete 2a2 nc effectively with the help of our PDFinity® online tool. We at FormsPal are aimed at providing you the ideal experience with our editor by continuously presenting new features and improvements. With all of these updates, using our tool gets better than ever! Starting is simple! Everything you need to do is stick to the next basic steps directly below:

Step 1: Click on the "Get Form" button above. It will open our tool so that you can begin filling out your form.

Step 2: As soon as you start the PDF editor, there'll be the form prepared to be filled in. Other than filling out various fields, you may also do some other actions with the file, that is putting on your own textual content, changing the original textual content, inserting images, placing your signature to the form, and more.

Filling out this document generally requires attention to detail. Make sure all required fields are completed properly.

1. It's vital to complete the 2a2 nc accurately, thus be attentive while working with the segments including all these blanks:

Step # 1 of filling in contingent sale addendum

2. When the last selection of blanks is filled out, proceed to type in the applicable information in these - Termination of Contract for, If Buyer has not entered into a, this Contract Buyers Property, is listed with will be listed on, Buyer is attempting to sell the, IN THE EVENT OF A CONFLICT BETWEEN, Page of, This form jointly approved by, Inc, and STANDARD FORM AT Revised.

Completing segment 2 in contingent sale addendum

It is possible to make errors when filling in your Inc, consequently make sure you look again prior to when you finalize the form.

3. Completing THE NORTH CAROLINA ASSOCIATION OF, Date BuyerSEAL Date BuyerSEAL, Date, SellerSEAL, Date, SellerSEAL, Date, and SellerSEAL is essential for the next step, make sure to fill them out in their entirety. Don't miss any details!

Filling in segment 3 of contingent sale addendum

Step 3: Make sure that your details are right and then just click "Done" to continue further. Get the 2a2 nc as soon as you subscribe to a 7-day free trial. Conveniently access the pdf form from your personal cabinet, along with any edits and adjustments being automatically preserved! At FormsPal.com, we strive to make sure that all of your details are stored protected.

Form 2A2 T isn’t the one you’re looking for?

Related Documents