Legal
Terms & Conditions
Last Updated: 07/13/2025 · Effective Date: 07/13/2025 · 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 velosellhomebuyers.com (the "Site"), you ("Seller") agree to these binding Terms and Conditions ("Terms").
2. Services & NC-Specific Disclaimers
2(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.
2(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
3(a). Due Diligence
Buyers/Sellers must independently verify, at their own expense, including but not limited to:
- Title status & liens (NCGS § 47B)
- Zoning compliance
- Physical property condition (all sales are strictly "AS-IS")
3(b). Assignments
- Governed by the NC Statute of Frauds (NCGS § 22-2); all assignments require a written agreement.
- Assignment fees are disclosed in writing to all parties prior to execution.
- We comply with NCREC Advisory Opinion 2017-01 on wholesaling.
3(c). Earnest Money
If applicable, earnest money is held in an NC-compliant escrow account (NCGS § 93A-12).
4. Limitation of Liability
4(a). No Guarantees
We do not guarantee any of the following:
- Property condition (all purchases are "AS-IS"),
- Investment outcomes or future property value,
- Transaction closing or success.
4(b). Cap on Damages
To the fullest extent permitted by law, our maximum liability for any claim arising out of or relating to our services is limited to fees paid directly to us, and expressly excludes any third-party acts or omissions.
5. Dispute Resolution (North Carolina)
- Mandatory Binding Arbitration in Wake County, NC, under the applicable rules of the American Arbitration Association (AAA).
- Class Action Waiver: You agree that no class actions, class arbitrations, or joinder of claims are permitted.
- Governing Law: These Terms are governed exclusively by the laws of the State of North Carolina (NCGS Ch. 1), without regard to conflict-of-law principles.
6. Legal Compliance (NC)
- Wholesaling: We adhere to NCREC Advisory Opinion 2017-01 on wholesaling.
- UDTPA: We aim to comply with the NC Unfair and Deceptive Trade Practices Act (NCGS § 75-1.1).
- Privacy: Data is handled in accordance with the NC Identity Theft Protection Act (NCGS § 75-60), to the extent applicable.
- Communications: By submitting your information, you consent to calls, texts, emails, or other contact methods in a manner intended to be compliant with the Telephone Consumer Protection Act (TCPA) and related regulations.
7. Intellectual Property & Site Use
All content on the Site (including text, graphics, logos, and layout) is the property of the Company or its licensors. Any unauthorized commercial use, copying, or distribution of Site content is strictly prohibited.
8. Contact & Disclosures
Velosell Home Buyers
207 W Millbrook Road, Suite 210
Raleigh, NC, US 27609
+1 (984) 294-6262 |
info@velosellhomebuyers.com
You may review the NC Wholesaling Disclosure.
Acknowledgement
By submitting any form or contacting us through the Site, you confirm that:
- You have read and understand these Terms and our NC Wholesaling Disclosure.
- You understand we are NOT licensed agents or brokers.
- You consent to NC arbitration and to being contacted via phone, SMS, and/or email.
- You agree to the verbatim NC Addendum in Section 2(b) regarding our status as principals and non-agents.
Legal Advisory
This document is intended to align with NC-specific statutes and NCREC guidance, but it is not legal advice. You should retain qualified North Carolina legal counsel to:
- Draft and finalize your assignment agreement templates.
- Validate escrow procedures and handling of earnest money.
- Review "AS-IS" purchase clauses, including any implications under NCGS § 39-4.4.
- Ensure ongoing UDTPA compliance in your marketing and advertising practices.