In the fast-paced markets of New Hanover, Pender, Onslow, and Brunswick counties, it’s easy to get swept up in the excitement of a deal. You might find yourself standing on a dock in Wrightsville Beach or a shaded lot in Hampstead, shaking hands with a seller who says, “We have a deal.” You might even have a string of text messages confirming the price.

However, in North Carolina, a handshake and a “yes” are legally insufficient when it comes to real property. Under a long-standing legal doctrine known as the Statute of Frauds, specifically codified in N.C. Gen. Stat. § 22-2, verbal agreements for the sale of real estate are not just difficult to prove—they are essentially void and unenforceable in a court of law.

The “DREAM OILS” Requirement

The Statute of Frauds exists to prevent perjury and confusion in high-stakes transactions. In the Cape Fear region, where property values and coastal complexities are high, the law demands a “memorandum or note” in writing, signed by the party to be charged.

Local experts often use the acronym DREAM OILS to remember which agreements must be in writing to be valid in North Carolina:

• Deeds and restrictive covenants.
• Real estate sales contracts.
• Easements (lasting longer than one year).
• Assignments of real property interests.
• Mortgages and deeds of trust.
• Options to purchase land.
• Installment land contracts.
• Leases exceeding three years.
• Separation agreements involving real property.

If your agreement involves any of the above—even a simple “option” to buy a neighbor’s lot in Oak Island—it must be in writing and signed by all legal owners to hold any weight.

The Trap of “Accepted” Offers

A common point of friction in Wilmington or Leland occurs during the negotiation phase. A listing agent might call a buyer’s agent to say the seller has “accepted” the offer over the phone. While this is a positive sign, it is not a binding contract.

Until the seller physically or electronically signs the Offer to Purchase and Contract (Form 2-T) without making any changes, they are legally free to entertain higher offers from other buyers. In the eyes of the North Carolina Real Estate Commission, a broker who tells a buyer they are “under contract” based solely on a verbal confirmation is actually misrepresenting a material fact.

Strategic Advice for Local Transactions

Because the coastal market moves quickly, waiting for a signature can feel like an eternity. However, to protect your interests:

• Ignore the Handshake: Treat every verbal promise as a “non-deal” until the paperwork is returned with signatures.
• Watch the “Lease” Exception: Be aware that while sales require writing, a residential lease in Surf City or Jacksonville is legally binding even if it is verbal—provided the term is three years or less. This is a rare exception that can catch landlords and tenants off guard.
• Verify All Signatures: In NC, if a property is owned by a married couple, both spouses must usually sign the contract to convey clear title, regardless of whose name is on the original deed.

Your Next Step

Navigating the legalities of a property transfer requires a partner who values precision over placeholders. At Aspyre Realty Group, we are experts in listening and communicating people’s wants into homes that work for them. We act as your strategic partner and guide, ensuring that every agreement—from the initial offer to the final closing in Southeastern North Carolina—is documented, signed, and legally sound to protect your future.