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When selling a house in North Carolina, sellers have to abide by the residential property disclosure act according to current North Carolina law.
In addition to North Carolina specific law, home sellers also have to follow Federal Laws that protect buyers by filling out a disclosure statement.
These disclosure statements are based on your actual knowledge of your property and the impacts your home could have on a buyer's health or future value of the home - these are called material facts or material defects.
A real estate agent will help you to fill out this information in accordance with the residential property disclosure act.
What, then do you need to disclose to potential buyers when selling a North Carolina home?
North Carolina law mandates that sellers identify any known defects to their home to a buyer before a contract is signed.
Real estate agents will help you make sure that you are able to properly disclose information during your residential real estate transactions.
Here are some items you must disclose about such property:
By making disclosures as accurate as possible as a seller you will make a buyer more confident in their decision to move forward with a sale.
If you're afraid of making mistakes on the disclosure statement with disclosure requirements, you can always ask your real estate agent for help checking the appropriate box and other written notice requirements.
In North Carolina, further disclosure is not needed on the following items:
Make sure you consult with a licensed real estate agent before a sale to properly fill out the written copies of the disclosure statement and any other requested information a purchaser makes.
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If a buyer makes an offer on your property and issues with disclosure relating issues, they can pursue legal action - so be sure to make your information as accurate as possible to ensure a solid purchase contract and smooth closing.
For more information on what to disclose and when during a real estate transaction, be sure to follow our blog.
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