Selling your North Carolina home can be exciting, but it can also be complex. Understanding the mandatory disclosures required by law is crucial to avoid costly mistakes that could derail your transaction.
When selling your home, you must provide a prospective buyer with a disclosure form that complies with North Carolina law before or at the time an offer is made. This form requires you to answer “yes” or “no” to questions about:
Beyond the form, you must disclose hazards like radon, asbestos, and any history that could pose a risk, such as previous methamphetamine production in the home. Additionally, disclose upcoming nearby construction projects, pending litigation against the community, excessive noise, pollutants, and any known defects on the property.
Certain facts do not need to be disclosed, including:
Navigating the balance between required and non-required disclosures can be tricky. Failure to comply with disclosure laws can lead to legal liability. If you have questions or uncertainties about what to disclose, it’s essential to seek professional advice.
Remember, this post is not exhaustive regarding mandatory disclosures. If you’re unsure about specific facts, consult a professional to ensure compliance and protect your home sale and future. Be diligent and thorough to avoid jeopardizing your transaction.
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