Get the free Residential Property Disclosure Statement - ncleg

This document outlines the required disclosures that property owners must provide to purchasers regarding the characteristics and conditions of residential real estate, including details about structural

How to fill out residential property disclosure statement

How to fill out Residential Property Disclosure Statement

1. Obtain the Residential Property Disclosure Statement form from your local real estate authority or online.
2. Begin by filling out your personal information, including your name, address, and contact details.
3. Provide details about the property, including the address, type of property, and date of the disclosure.
4. Answer questions regarding the condition of the property, including past repairs, renovations, or issues with plumbing, electrical systems, roofing, etc.
5. Disclose any known environmental hazards, such as lead paint, mold, or radon gas.
6. Include information on utilities, property lines, and any easements or restrictions.
7. Review the completed form carefully to ensure all information is accurate and complete.
8. Sign and date the form to verify the information provided.

Who needs Residential Property Disclosure Statement?

1. Sellers of residential properties are required to complete the Residential Property Disclosure Statement.
2. Real estate agents may also utilize this statement to inform potential buyers about property conditions.
3. Buyers rely on the Residential Property Disclosure Statement to understand any potential issues or past problems with the property.

People Also Ask about

How to fill out a seller's property disclosure?

What should a Seller's Disclosure include? List of specific issues the homeowner must check off if the home has them. Questions about the property the seller must answer with “Yes,” “No” or “Unknown” Space to provide further explanation of the issue and if it was fixed.

What is a residential property condition disclaimer statement?

Property disclosure statements essentially outline any flaws that the home sellers (and their real estate agents) are aware of that could negatively affect the home's value. These statements are required by law in most areas of the country so buyers can know a property's good and bad points before they close the deal.

Who fills out the seller's property disclosure statement?

The seller and any broker(s)/agent(s) involved are to participate in the disclosures. If more than one broker/agent is involved, the broker/agent obtaining the offer is to deliver the disclosures to the prospective buyer unless the seller instructs otherwise.

What should the seller's property disclosure statement reveal?

Examples of material facts that must be disclosed include structural problems with the house, soil problems, a leaking roof, unpermitted construction, neighborhood noise problems, and anything else that a buyer would deem to be important.

What is a residential property disclosure statement?

The second section is a detailed disclosure of any specific issues that the seller is aware of. It can include anything from problems with the roof to potential safety hazards in the home. The disclosure statement is important as it can allow buyers to see any potential issues with the property before they purchase.

What is an example of a disclosure statement?

I hereby certify that, to the best of my knowledge, neither I (including any member of my immediate family) nor any individual or entity with whom or wijt h which I have a significant working relationship have (has) received something of value from a commercial party related directly or indirectly to the subject of

What is the purpose of a property disclosure statement?

A disclosure document details a property's condition and what might negatively affect its value. Sellers who willfully conceal information can be sued and potentially convicted of a crime.

What is the purpose of the disclosure statement?

It is typically used to ensure transparency and to inform individuals of any potential conflicts of interest or risks associated with the matter at hand.

For pdfFiller’s FAQs

What is Residential Property Disclosure Statement?

A Residential Property Disclosure Statement is a document provided by a seller of residential real estate that outlines the condition of the property and discloses known issues or defects.

Who is required to file Residential Property Disclosure Statement?

Typically, sellers of residential properties are required to file a Residential Property Disclosure Statement to inform potential buyers about the property's condition.

How to fill out Residential Property Disclosure Statement?

To fill out a Residential Property Disclosure Statement, the seller should answer specific questions regarding the property’s condition, including disclosures about structural issues, plumbing, electrical systems, and environmental hazards, ensuring accuracy and completeness.

What is the purpose of Residential Property Disclosure Statement?

The purpose of a Residential Property Disclosure Statement is to provide transparency to potential buyers about the condition of the property, minimizing disputes after the sale.

What information must be reported on Residential Property Disclosure Statement?

The information that must be reported includes known defects, repairs made, details about systems like HVAC and plumbing, environmental hazards, and any other relevant information that could affect the value or safety of the property.