As reports of disruptions to transactions are continuing to mount, we wanted to make sure that you are all kept in the loop regarding all that NC REALTORS is doing to try to mitigate some of the issues.
NC REALTORS® is exploring possible options to draft language that could apply to transactions that cannot move forward due to COVID-19. Any potential form will likely be very broad and would need to be reviewed and customized based on specific transactional considerations. Any REALTOR® with immediate transactional needs should consider consulting with their closing attorney to draft language for that particular transaction.
Additionally, NC REALTORS® just forwarded a letter to Governor Cooper requesting that he declare real estate services as essential under the emergency powers declaration. These services include, but are not limited to, title searches, permitting, inspections, construction, and especially the transfer and recordation of ownership.
Charlotte Region Commercial Board of REALTORS® BLOG 