Standard Form 310 T PDF Details

In the realm of real estate transactions, the Standard 310 T form, known as the Due Diligence Request and Agreement, plays a crucial role in ensuring that both buyers and sellers are aligned in terms of the property's condition and the terms of sale prior to finalizing a purchase. Drafted on November 4, 2019, this form facilitates the negotiation process by allowing the buyer to request specific actions or adjustments based on their due diligence findings, while also providing the seller an opportunity to agree to these requests. This agreement covers various adjustments that may need to be made before settlement, ensuring that any agreed-upon changes are completed in a quality manner. It highlights the importance of both parties notifying each other upon the completion of adjustments and allows for the buyer to verify the work. Notably, the form also addresses potential changes in the purchase price or seller contributions, emphasizing the necessity of amending the main contract to reflect such changes through the Agreement to Amend Contract (Form 4-T). Furthermore, it outlines the rights retained by the buyer concerning conducting due diligence and consulting with their lender regarding the agreement. Any alterations to the original agreement must be documented in writing and agreed upon by all parties involved, underscoring the form's emphasis on clear, documented communication throughout the property buying process. The North Carolina Association of REALTORS®, Inc., while providing this template, disclaims any representation about the legal validity or adequacy of the form's provisions in specific transactions, prompting users to approach with due diligence.

QuestionAnswer
Form NameStandard Form 310 T
Form Length1 pages
Fillable?No
Fillable fields0
Avg. time to fill out15 sec
Other namesagreement due diligence, which due diligence agreements, north carolina due diligence request and agreement form, form 310 t

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DUE DILIGENCE REQUEST AND AGREEMENT

[Consult “Guidelines” (Form 310G) for guidance in completing this form]

Draft 11-4-2019

___________________________________________________________________________________________________, as Buyer,

and ________________________________________________________________________________________________, as Seller,

have entered into an Offer to Purchase and Contract (“Contract”) regarding the purchase and sale of the following property (insert

property address): _____________________________________________________________________________________________

_________________________________________________________________________________________________ (“Property”).

1.Based upon Buyer’s Due Diligence, the Buyer requests and the Seller agrees to the following: _____________________________

_________________________________________________________________________________________________________

_________________________________________________________________________________________________________

_________________________________________________________________________________________________________

_________________________________________________________________________________________________________

_________________________________________________________________________________________________________

_________________________________________________________________________________________________________

_________________________________________________________________________________________________________

_________________________________________________________________________________________________________

In the event the parties have agreed to any adjustment in the condition of the Property, then such adjustment shall be completed prior to Settlement in a good and workmanlike manner. Seller shall notify Buyer upon completion of the above and provide Buyer with documentation thereof. Buyer shall have the right to verify that the items above have been completed in a good and workmanlike manner. Unless otherwise indicated in the Contract or this Agreement, such verification shall be at Buyer’s expense.

NOTE: If the parties agree herein to a change in the Purchase Price or the amount Seller agrees to pay toward Buyer’s expenses associated with the purchase of the Property, the Agreement to Amend Contract (Form 4-T) should be completed and signed by the parties to reflect the change. However, the parties’ failure to complete and sign Form 4-T will not affect the validity of any agreement reached hereunder. Buyer is advised to confirm with Buyer’s lender that this amount will not exceed the amount lender will allow Seller to contribute.

NOTE: Unless otherwise agreed, Buyer retains the right to conduct Due Diligence during the period agreed to in Paragraph 1(j), Due Diligence Period, of the Offer to Purchase and Contract. Buyer is advised to consult with Buyer’s lender regarding this

Agreement and/or any Agreement to Amend Contract prior to the expiration of the Due Diligence Period.

2.Release of Inspection Reports: Buyer does does not agree to release any inspection reports to Seller.

3.Agreement: This agreement shall become effective on the date it has been signed by both parties. All changes, additions or deletions hereto must be in writing and signed by all parties.

THE NORTH CAROLINA ASSOCIATION OF REALTORS®, INC. MAKES NO REPRESENTATION AS TO THE LEGAL VALIDITY OR ADEQUACY OF ANY PROVISION OF THIS FORM IN ANY SPECIFIC TRANSACTION.

Buyer:

 

 

Date

 

 

Seller:

 

 

Date

 

 

Buyer:

 

Date

Seller:

 

Date

Entity Buyer:

 

 

 

 

Entity Seller:

 

 

 

 

__________________________________________________

 

_______________________________________________

(Name of LLC/Corporation/Partnership/Trust/etc.)

(Name of LLC/Corporation/Partnership/Trust/etc.)

By: ______________________________________________

By: ____________________________________________

Name: ____________________________________________

Name:__________________________________________

Title: _____________________________________________

Title: __________________________________________

Date:_____________________________________________

Date: __________________________________________

 

 

 

 

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STANDARD FORM 310-T

 

 

North Carolina Association of REALTORS, Inc.

 

 

 

Revised 7/2018

 

 

 

 

 

 

 

 

© 7/2019

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due diligence repair agreement nc empty fields to complete

Put down the information in the NOTE Unless otherwise agreed Buyer, Release of Inspection Reports, Agreement This agreement shall, deletions hereto must be in, THE NORTH CAROLINA ASSOCIATION OF, Buyer, Buyer, Date, Date, Entity Buyer Name of, Seller, Seller, Entity Seller, Date, and Date area.

Entering details in due diligence repair agreement nc stage 2

Mention the necessary particulars in Title, Title, Date, Date, North Carolina Association of, Page of, and STANDARD FORM T Revised field.

Title, Title, Date, Date, North Carolina Association of, Page  of, and STANDARD FORM T Revised in due diligence repair agreement nc

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