Get the free Residential Property Disclosure Statement

This document outlines the requirements and instructions for property owners in North Carolina to disclose information about the condition of residential properties when selling or exchanging them.

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 office or online.
2. Fill in the property address and owner information at the top of the form.
3. Provide details about the property's condition, including any known defects or issues.
4. Answer questions regarding the plumbing, electrical systems, and appliances, specifying their working condition.
5. Disclose any past or present pest infestations or damages.
6. Include information about any legal issues affecting the property, such as liens or zoning disputes.
7. Sign and date the form to certify the accuracy of the information provided.
8. Provide a copy of the completed statement to potential buyers.

Who needs Residential Property Disclosure Statement?

1. Sellers of residential properties are required to provide the Residential Property Disclosure Statement.
2. Real estate agents may also need to complete these statements on behalf of their clients.
3. Buyers interested in the residential property should review the statement to understand the property's condition.

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 that provides detailed information about the condition and history of a residential property, allowing potential buyers to be informed about any 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. This requirement can vary by state or jurisdiction.

How to fill out Residential Property Disclosure Statement?

To fill out a Residential Property Disclosure Statement, the seller must accurately complete a form listing specific details about the property, such as its condition, any repairs made, and any known defects or issues, and then sign and date the form.

What is the purpose of Residential Property Disclosure Statement?

The purpose of the Residential Property Disclosure Statement is to protect both buyers and sellers by ensuring transparency regarding the property's condition, helping buyers make informed decisions and reducing the risk of disputes after the sale.

What information must be reported on Residential Property Disclosure Statement?

The information that must be reported on a Residential Property Disclosure Statement often includes details about the property's age, structural issues, past renovations, environmental hazards, plumbing and electrical systems, appliances, and any known material defects.