Property disclosure requirements vary from state to state, and I thought I would visit on the North Carolina Real Estate Commission’s NC Residential Property Disclosure Statement.
The requirements and responsibilities are fairly simple:
1. Sellers, don’t fib.
2. Buyers, do your due diligence. Investigate and confirm the Seller’s disclosure, as well as other issues.
New construction home sellers, foreclosure home sellers, lease/option home sellers, and a few other excepted transaction sellers are not required to use the disclosure form.