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TERMS AND CONDITIONS

Last Updated: [Date]
Effective Date: [Date]
Governing Jurisdiction: North Carolina

1. Introduction
Velosell Home Buyers (“Company,” “we,” “us”) operates as a principal buyer/assignor of residential real estate in North Carolina (“NC”). We are NOT licensed real estate agents, brokers, or attorneys (NCREC Rule 58A .0104). By submitting information via [YourWebsiteURL] (the “Site”), you (“Seller”) agree to these binding Terms.

2. SERVICES & NC-SPECIFIC DISCLAIMERS

(a) Services Provided:

WE BUY HOUSES:
We purchase residential properties directly as principals in NC, acting as the buyer of record.

WE ASSIGN CONTRACTS:
We may enter a purchase agreement with Seller and assign that contract to an end-buyer for a disclosed fee.

(b) Critical Disclaimers (NC Compliance):

⚠️ NO LICENSES HELD:
We are NOT licensed under NC Real Estate Commission (NCREC) rules. We perform zero brokerage services.

⚠️ NO ADVICE OR AGENCY:
We do not provide real estate, legal, tax, or financial advice. No agency, brokerage, or fiduciary relationship is created.

⚠️ PRINCIPAL STATUS ACKNOWLEDGEMENT:
*”All parties acknowledge: (1) We are the original purchaser in all contracts; (2) Assignments convey our contractual rights only; (3) No agency relationship exists between us, sellers, or end-buyers per NCGS § 93A-2.”*

3. NC TRANSACTION TERMS

(a) Due Diligence:

Buyers/Sellers must independently verify:

  • Title status & liens (NCGS § 47B)
  • Zoning compliance
  • Physical property condition (all sales are “AS-IS”).

(b) Assignments:

  • Governed by NC Statute of Frauds (NCGS § 22-2); requires written agreement.
  • Assignment fees disclosed in writing to all parties prior to execution.
  • We comply with NCREC Advisory Opinion 2017-01 on wholesaling.

(c) Earnest Money:

If applicable, held in NC-compliant escrow (NCGS § 93A-12).

4. LIMITATION OF LIABILITY

(a) No Guarantees:

We DO NOT guarantee:

  • Property condition (all purchases are “AS-IS”),
  • Investment outcomes,
  • Transaction success.

(b) Cap on Damages:

Our maximum liability for any claim is limited to fees paid directly to us (excludes third-party acts).

5. DISPUTE RESOLUTION (NC)

  • Mandatory Binding Arbitration in [County, NC] under AAA rules.
  • Class Action Waiver: No joinder or class arbitration permitted.
  • Governing Law: North Carolina law (NCGS Ch. 1) exclusively.

6. LEGAL COMPLIANCE (NC)

  • Wholesaling: Adheres to NCREC Advisory Opinion 2017-01.
  • UDTPA: Compliance with NC Unfair and Deceptive Trade Practices Act (NCGS § 75-1.1).
  • Privacy: Data handled per NC Identity Theft Protection Act (NCGS § 75-60).
  • Communications: Consent to calls/texts/emails (TCPA-compliant).

7. INTELLECTUAL PROPERTY & USE

Site content is Company property. Unauthorized commercial use prohibited.

8. CONTACT & DISCLOSURES

Velosell Home Buyers
[Physical Address in NC]
[Phone] | [Email]
NC Wholesaling Disclosure: [Link to Standalone Page]

ACKNOWLEDGEMENT

BY SUBMITTING OUR FORM, YOU CONFIRM:

  1. You read these Terms and our NC Wholesaling Disclosure [Link].
  2. You understand we are NOT licensed agents/brokers.
  3. You consent to NC arbitration and communications.
  4. You agree to the verbatim NC Addendum in Section 2(b).

Legal Advisory:
This document complies with NC-specific statutes and NCREC guidance. Retain NC counsel to:

  • Finalize assignment agreement templates.
  • Validate escrow procedures.
  • Review “AS-IS” purchase clauses per NCGS § 39-4.4.
  • Ensure UDTPA compliance in marketing.