Revised North Carolina Property Disclosure Statement, effective July 1, 2010

The NC Real Estate Commission today sent a Revised NC Residential Property Disclosure Statement to NCAR.

It adds “Military” as a noise that must be disclosed.  Further, it offers the opportunity for a Seller to disclose issues, and attach expert reports as explanation in lieu of a written explanation.

The larger news is that it is effective July 1, 2010, and must be given to Buyers who go under contract after that date.  Listings that are on the market prior to July 1 will need to have the Property Disclosure updated to the new version.

News and information from the North Carolina Association of Realtors.

 The interactive form, available on the NC Real Estate Commission website.  The form is mandatory for all home resales in North Carolina, except foreclosures.

 The interactive form on the Real Estate Commission site is easy to complete and has full instructions.  When completed, it can be printed for signature.  Alternatively, the Sellers can “print” the form to a pdf writer, like free CutePDF, and save it.   Then they can email it to me.  I can prepare it for electronic signatures, and return it to them.  When I get it back, digitally signed by the Sellers, I can upload the form to the Triangle MLS.   The form never has to be printed unless a Buyers’ Agent for some reason doesn’t offer their clients digital signing.

However it is signed, the new NC Residential Property Disclosure Statement is coming soon to a listing near you!

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