Paperwork
NCREC Forms for Buyers and Sellers
Working With Real Estate Agents Disclosure (WWREA)
Purpose: This mandatory disclosure explains agency relationships (e.g., buyer’s agent, seller’s agent, dual agency) and must be provided by brokers at first substantial contact with a prospective buyer or seller, per NCREC Rule 58A.0104(c). It’s a one-page, double-sided form—sellers on one side, buyers on the other—designed for clarity and simplicity.
When It’s Used: Early in the process, before signing agreements, to define how your broker represents you.
Download: Buyer Working With Real Estate Agents Disclosure PDF or Seller Working with Real Estate Agents Disclosure PDF
Residential Property and Owners’ Association Disclosure Statement (RPOADS)
Purpose: Required by NC law (G.S. 47E) for most residential sales (1-4 units), this form details the property’s condition, including defects, repairs, and owners’ association details, helping buyers make informed decisions. Sellers must provide it unless exempt (e.g., court-ordered sales).
When It’s Used: Before an offer is made, typically at listing or during due diligence.
Download: RPOADS PDF
Residentail Property Owners Association Disclosure and Mineral and Oil and Gas Rights Mandatory Disclosure Statement (MOGS)
Purpose: Also mandated by G.S. 47E, this form discloses whether mineral, oil, or gas rights are included with the property, protecting buyers from surprises about subsurface ownership. It’s required alongside the RPOADS unless an exemption applies.
When It’s Used: Same as RPOADS—before the offer, often at listing.
Download: Residential Property Owners Association Disclosure PDF and Mineral Oil and Gas Disclosure PDF
Offer to Purchase and Contract (Form 2-T)
Purpose: While not an NCREC form (it’s from NC REALTORS®), it’s commonly used and reviewed by NCREC for compliance. This contract outlines the terms of sale between buyer and seller, including price, contingencies, and closing details.
When It’s Used: When a buyer makes an offer, accepted by the seller to formalize the deal.
Download: Offer to Purchase Contract.
Application for Payment from Real Estate Recovery Fund (Form REC 4.17)
Purpose: This form allows buyers or sellers to seek compensation from the NCREC’s Recovery Fund if they suffer financial loss due to a broker’s misconduct (e.g., fraud). It’s a consumer protection tool, not a transactional form.
When It’s Used: Post-transaction, if a licensed broker’s actions cause verifiable loss.
Download: REC 4.17 PDF
Why These Forms Matter
These NCREC forms are critical for Greensboro, NC, buyers and sellers to ensure a fair, transparent real estate process. The WWREA Disclosure sets expectations with your broker, while RPOADS and MOGS protect buyers by revealing property details upfront. The Offer to Purchase and Contract locks in your agreement, and the Recovery Fund application offers a safety net. At Joy Watson Real Estate, we guide you through these documents to streamline your journey—whether you’re exploring first-time buyer programs or mastering MLS search tips.
Tips for Using NCREC Forms
Buyers: Review the WWREA with your agent early, and study the RPOADS/MOGS before making an offer. Need help? Check our Down Payment Assistance Options blog for financing insights.
Sellers: Complete the disclosure forms accurately to avoid liability—our Greensboro Market Insights can help you price competitively.
Both: Consult your broker or legal counsel if unsure, and keep copies of all signed forms.
Get Started Today
Ready to buy or sell in North Carolina? Download these NCREC forms and explore our blog for more resources tailored to Greensboro real estate. Contact Joy Watson Real Estate to connect with our team—we’re here to turn your real estate dreams into reality with expert guidance and personalized service!
