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NC REC 4.22 2013 free printable template

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STATE OF NORTH CAROLINA RESIDENTIAL PROPERTY AND OWNERS ASSOCIATION DISCLOSURE STATEMENT Instructions to Property Owners1. The Residential Property Disclosure Act (G.S. 47E) (Disclosure Act) requires
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How to fill out property disclosure statement nc

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How to fill out a property disclosure statement in NC:

01
Begin by obtaining the necessary form. In North Carolina, the property disclosure statement is typically provided by the seller and should be given to the buyer before the purchase offer is made.
02
Familiarize yourself with the form. Read through the entire property disclosure statement to understand the questions being asked and the information that needs to be provided. Make sure you have all the necessary documents and records to accurately complete the form.
03
Start with the basic information. Provide the address of the property, the names of the seller(s), and any other relevant identification details requested. This ensures that the form is properly associated with the correct property and parties involved.
04
Disclose any known material defects. The property disclosure statement is designed to disclose any known issues or defects with the property. Answer each question honestly and to the best of your knowledge. Some common areas to address include the structural integrity, electrical and plumbing systems, roof, and any past or ongoing termite or pest issues.
05
Be thorough and specific. Instead of simply stating "unknown" or "not applicable" for a particular question, take the time to provide more details or clarification when necessary. This helps buyers gain a better understanding of the property's condition.
06
Consider adding attachments. If there is not enough space on the property disclosure statement to fully explain a specific issue, consider attaching additional pages or documents that provide more details. This will ensure that all relevant information is disclosed.
07
Review and sign the completed form. Once you have filled out the property disclosure statement, carefully review it to ensure accuracy and completeness. Make sure all required fields are filled, and any additional pages or attachments are properly referenced. Once satisfied, sign and date the form.

Who needs a property disclosure statement in NC:

01
Sellers: It is the responsibility of the seller to provide the property disclosure statement to the buyer. This is a legal requirement in North Carolina and failing to do so can lead to legal consequences.
02
Buyers: Property disclosure statements are essential for buyers to make informed decisions about a property purchase. By reviewing the seller's disclosures, buyers can better understand the condition and potential issues associated with the property.
03
Real Estate Agents: Realtors and real estate agents play a crucial role in facilitating the transaction between buyers and sellers. They should ensure that the property disclosure statement is completed accurately and thoroughly and that all parties are aware of its significance.
In summary, filling out a property disclosure statement in North Carolina requires attention to detail and honesty. Both sellers and buyers have a responsibility in ensuring that the form is properly completed and reviewed. By doing so, all parties can have a transparent and informed real estate transaction.

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