When you are thinking of listing your home in North Carolina there are a few disclosure requirements. Providing proper disclosures to potential buyers and bidders on your home can prevent potential legal issues once you are ready to move forward with the closing of the sale.
What is a real estate disclosure?
In the real estate industry, a disclosure of a property may include everything from standard hazards and health issues to land and property flaws that new potential owners have the right to know prior to placing a bid or making a purchase. In the State of North Carolina, homeowners are required to provide disclosures to potential buyers so that buyers are not surprised with a plethora of issues and problems once they move in.
Legal real estate disclosure requirements in North Carolina
In addition to traditional real estate disclosure requirements, there are also legal real estate disclosure requirements throughout North Carolina.
Most often, health and safety concerns are the top priorities that are required by sellers who have listed their home or commercial property on the market. Some of the concerns that must be disclosed when listing a home in North Carolina include:
- Toxic and hazardous substances that may be in or around the home. Some substances that are toxic include lead-based paint, radon, asbestos, mold, and other risky substances.
- Environmental hazards must also be disclosed such as whether a home is in a fire, flood, or earthquake zones.
- Defects such as foundational defects, plumbing issues, electrical wiring problems, ceiling and wall trouble, and more.
Whenever you are thinking of buying or selling a home, obtaining a legal team that understands North Carolina real estate and legal disclosures is highly advisable for added protection and assistance throughout the process.