NC REC 4.22 2021-2024 free printable template

STATE OF NORTH CAROLINA RESIDENTIAL PROPERTY AND OWNERS ASSOCIATION DISCLOSURE STATEMENT Instructions to Property Owners 1. The Residential Property Disclosure Act G*S* 47E Disclosure Act requires owners of residential real estate singlefamily homes individual condominiums townhouses and the like and buildings with up to four dwelling units to furnish purchasers a Residential Property and Owners Association Disclosure Statement Disclosure Statement. This form is the only one approved for...

How to fill out north carolina disclosure statement

How to fill out North Carolina disclosure statement:

1. Begin by obtaining the official North Carolina disclosure statement form. This form can typically be found on the website of the North Carolina Real Estate Commission or through other authorized sources.
2. Carefully review the instructions provided with the disclosure statement form. These instructions will outline the specific requirements and guidelines for completing the form accurately.
3. Start by entering the necessary personal information. This may include your name, contact details, and any other pertinent identification information as required by the form.
4. Next, move on to the property information section. Provide details about the property being disclosed, such as the address, legal description, and any other relevant information requested by the form.
5. Continue filling out the disclosure statement by addressing each specific disclosure item listed. These items often cover areas such as the property's physical condition, any known defects, past repairs or renovations, presence of hazardous materials, and more. Be thorough and meticulous in providing accurate information for each item.
6. If there are any questions or disclosures that require further explanation, utilize the designated sections or add additional pages as necessary. Make sure to clearly articulate any pertinent details or clarifications to avoid any misunderstandings.
7. After completing the disclosure statement, review it carefully to ensure accuracy and completeness. Double-check all the information provided, paying close attention to spelling, punctuation, and formatting.
8. If required, sign and date the disclosure statement in the designated spaces. Some forms may require additional witnesses or notarization, so be sure to comply with any specific instructions provided by the North Carolina Real Estate Commission.

Who needs the North Carolina disclosure statement:

1. Property sellers in North Carolina who are subject to the state's disclosure requirements are typically required to complete the North Carolina disclosure statement. This includes individuals, corporations, partnerships, or any other entities selling real estate in the state.
2. Buyers or potential buyers of a property in North Carolina have the right to expect full disclosure of any known defects or issues with the property. They may request that the seller provide a completed and accurate North Carolina disclosure statement.
3. Real estate agents and brokers involved in the sale of a property in North Carolina often play a crucial role in facilitating the completion and dissemination of the disclosure statement. They should be familiar with the form and its requirements to ensure compliance with state regulations.

Video instructions and help with filling out and completing north carolina disclosure statement

Instructions and Help about nc residential property form

Hi today in 16 seconds in real estate we're going to discuss the North Carolina residential property disclosure statement the North Carolina residential property disclosure statement is provided by the North Carolina real estate commission is the only acceptable form for sellers to disclose condition of the property to buyers exemptions to using the form include builders selling a home that has never been inhabited and foreclosure homes when a bank sells a foreclosure that do not need to disclose there are other exemptions clarify this with your real estate agent the front page of the form gives instructions to sellers and buyers basically says sellers if you say there is not a problem you need to believe there's not a problem don't fib sellers can also choose no representation which says they don't claim to make any claim about the property buyers you need to remember this is a caveat emptor state do your own due diligence this form does not relieve you of due diligence confirm everything you can that's the crux of the situation with the North Carolina residential property disclosure statement sellers tell the truth buyers follow up thanks for watching 60 seconds in real estate Cary North Carolina see you next week

People Also Ask about north carolina disclosure statement

What is the NC Residential Property and Owners Association Disclosure Statement?

A North Carolina property disclosure statement is a document that provides a complete report of a residential property's current condition and is required by law to be provided by a property owner to anyone wishing to purchase the property.

Is NC a non disclosure state?

Commonly, there aren't definite disclosure laws and the sale prices will only reflect on public records if the seller submits one. These states are the following: Alabama, Arkansas, Louisiana, Nevada, North Carolina, Oklahoma, Rhode Island, and Tennessee.

What is a disclosure form?

A disclosure statement is a financial document given to a participant in a transaction explaining key information in plain language.

Is a property disclosure required in NC?

The Residential Property Disclosure Act, codified as North Carolina G.S. 47E, requires the seller of residential real estate (one to four dwelling units) to complete a form—known formally as the Residential Property and Owners' Association Disclosure Statement—disclosing conditions and defects with the property.

Which of the following is a material fact that a seller must disclose in North Carolina?

Material Fact: Any fact that could affect a reasonable person's decision to buy, sell, or lease is considered a material fact and must be disclosed by a broker to the parties in the transaction and any interested third parties regardless of the broker's agency role within the transaction. N.C.G.S.

Is North Carolina a full disclosure state?

Commonly, there aren't definite disclosure laws and the sale prices will only reflect on public records if the seller submits one. These states are the following: Alabama, Arkansas, Louisiana, Nevada, North Carolina, Oklahoma, Rhode Island, and Tennessee.

For pdfFiller’s FAQs

Who is required to file north carolina disclosure statement?

Individuals who are buying or selling real estate in North Carolina must file a North Carolina Disclosure Statement. The form must be completed by both the buyer and the seller and must be signed by both parties. The North Carolina Disclosure Statement is a required form that must be completed and submitted to the Register of Deeds office in the county in which the property is located.

What is the purpose of north carolina disclosure statement?

The North Carolina Disclosure Statement is a document used by real estate professionals to provide a prospective buyer with information about the property they are considering purchasing. It includes information about the property's title, any liens or encumbrances on it, taxes owed, and any other legal matters the buyer should be aware of.

What information must be reported on north carolina disclosure statement?

1. The name, address, and telephone number of the seller; 2. The purchase price and terms of payment; 3. The estimated amount of taxes, assessments, and other charges to be paid by the buyer; 4. A description of the property being sold; 5. Any easements or restrictions on the property; 6. Any liens or encumbrances on the property; 7. The buyer's right to have a title search conducted; 8. The buyer's right to inspect any and all documents related to the sale; 9. The buyer's right to cancel the contract; 10. The buyer's rights under the North Carolina Real Estate Commission's Agency Disclosure Form; 11. The estimated closing costs; 12. The amount of any earnest money being held; 13. The names and contact information of any real estate agents or brokers involved in the transaction; 14. Any material facts known to the seller that could affect the value of the property; 15. A statement that the seller is not obligated to complete the sale if the buyer does not obtain financing; and 16. Any other disclosure required under North Carolina law.

What is the penalty for the late filing of north carolina disclosure statement?

The penalty for late filing of a North Carolina Disclosure Statement is a civil penalty of up to $5,000 per violation.

What is north carolina disclosure statement?

The North Carolina Disclosure Statement is a legal document that provides important information about a real estate property to potential homebuyers. It is a required document in North Carolina for most residential real estate transactions. The disclosure statement typically includes details about the condition of the property, including any known defects, potential hazards, or significant issues that may affect the value or use of the property. It also includes information about any previous renovations or repairs, as well as any ongoing or previous legal disputes related to the property. The purpose of the disclosure statement is to ensure that buyers have all relevant information before making a decision to purchase a property, allowing them to make an informed decision and potentially negotiate repairs, upgrades, or price adjustments. The specific requirements and content of the North Carolina Disclosure Statement may vary depending on the type of property being sold, such as single-family homes, condominiums, or new constructions. It is important for buyers to carefully review the disclosure statement and consult with a real estate agent or attorney if they have any questions or concerns.

How to fill out north carolina disclosure statement?

To fill out the North Carolina Disclosure Statement, follow these steps: 1. Begin by stating the name and address of the seller, buyer, and the property involved. 2. Include the date on which the disclosure is being made. 3. Mention any material defects or issues with the property that the seller is aware of. This may include structural issues, plumbing or electrical problems, or any other significant defects that could affect the value or use of the property. 4. Provide details about any known environmental hazards or conditions on the property. This could include the presence of lead-based paint, asbestos, radon, or other harmful substances. 5. Clearly state whether or not the seller is aware of any pending or potential legal actions that could affect the property. 6. Disclose any known zoning violations or easements that may impact the property or its use. 7. Mention any special assessments or fees that the buyer will need to pay after purchasing the property. 8. Include any information related to the property's compliance with applicable building codes or zoning ordinances. 9. Present any other relevant information that the seller feels is important for the buyer to know. 10. Both the seller and buyer should sign and date the disclosure statement to acknowledge their understanding and agreement. Remember, the North Carolina Disclosure Statement may vary depending on the specific circumstances of the transaction and the requirements of the local authorities. It is advisable to consult with a legal professional or real estate agent to ensure that you accurately complete the form and comply with all relevant laws and regulations.

Where do I find north carolina disclosure statement?

The premium subscription for pdfFiller provides you with access to an extensive library of fillable forms (over 25M fillable templates) that you can download, fill out, print, and sign. You won’t have any trouble finding state-specific residential disclosure statement form and other forms in the library. Find the template you need and customize it using advanced editing functionalities.

How do I edit fltta agreement in Chrome?

Add pdfFiller Google Chrome Extension to your web browser to start editing residential property owners association and other documents directly from a Google search page. The service allows you to make changes in your documents when viewing them in Chrome. Create fillable documents and edit existing PDFs from any internet-connected device with pdfFiller.

Can I create an electronic signature for signing my residential property disclosure in Gmail?

With pdfFiller's add-on, you may upload, type, or draw a signature in Gmail. You can eSign your residential owners association form and other papers directly in your mailbox with pdfFiller. To preserve signed papers and your personal signatures, create an account.