60 Seconds in Real Estate: NC Residential Property Disclosure Statement

60 Seconds in Real Estate takes on the NC Residential Property Disclosure Statement.

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.

Underground fuel oil tanks, “UST” Alert!

Affordable housing demand coupled with a growing desire for larger lots, mature landscaping and tall trees are factors that are driving an increase in requests for homes in older Cary and Raleigh neighborhoods. Continue reading “Underground fuel oil tanks, “UST” Alert!”

New NC disclosures on agent compensation

As of October 1, 2008, there are new disclosure requirements in North Carolina for real estate agents regarding commissions, and “Additional Compensation.” Continue reading “New NC disclosures on agent compensation”