NC Real estate contracts: If it ain’t in writing, you ain’t got it!

I first heard that one a long time ago.  Breaking things down into writing reduces disagreement.

Sure, two parties in a real estate transaction can disagree over the meaning or intent of various words and phrases in a contract.  But the opportunity for disagreement is even greater when both parties must recall the content of verbalized promises and assurances.  

There are too many details in a North Carolina real estate contract, and too many variables, to allow for enforceable verbal contracts.  Ergo, the law says a contract must be in writing to be enforceable.

People of good will, good character, and good intent may differ in their recall of a negotiation.  Contention is best avoided in advance, by getting the resulting agreement into a written contract form.  We North Carolina Realtors have standard forms and contract addenda with blanks we can complete.  If the agreement transcends the bounds of the standard Offer to Purchase and Contract and associated standard forms and language must be drafted; an attorney will be needed to provide the language.  North Carolina Realtors, or other licensed real estate agents in NC, must not draft agreements.

Regardless, the trap of verbal, unwritten, agreements should be avoided by all parties.

“If it ain’t in writing, you ain’t got it.”  Get it in writing!