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. (Always a good rule, methinks.)
2. Buyers, do your own proper due diligence. Investigate and confirm the Seller's disclosure, as well as all other possible 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.
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