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An act to modify the requirements for disclosures upon the sale of residential properties in North Carolina, outlining the responsibilities of property owners to disclose certain conditions of the
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How to fill out residential property disclosure statement

01
Begin by obtaining the residential property disclosure statement form specific to your state or region.
02
Fill out the property address and owner information at the top of the form.
03
Answer all questions regarding the property's condition, including any past repairs or issues.
04
Disclose any known defects in major systems such as plumbing, electrical, and HVAC.
05
Include information on environmental hazards, such as lead-based paint or mold, if applicable.
06
Provide details on any previous modifications or renovations made to the property.
07
Sign and date the document to authenticate your disclosures.
08
Deliver the completed statement to potential buyers and provide them copies for their records.

Who needs residential property disclosure statement?

01
Sellers of residential properties are required to provide a disclosure statement to potential buyers.
02
Real estate agents and brokers must ensure that sellers complete this statement as part of the listing process.
03
Buyers should receive this disclosure to make informed decisions about purchasing the property.

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A residential property disclosure statement is a document that a seller provides to inform potential buyers about the condition of a property and any known issues that could affect its value or desirability.
Typically, residential property disclosure statements are required to be filed by sellers of residential real estate, including homeowners and real estate developers, before the sale of the property.
To fill out a residential property disclosure statement, the seller should carefully answer all questions regarding the property's condition, including past repairs, structural issues, and any known defects, providing accurate and honest information.
The purpose of a residential property disclosure statement is to provide transparency between the seller and the buyer, helping the buyer make an informed decision about the purchase and protecting the seller from future liability.
The information that must be reported typically includes details about the property's condition, such as roof integrity, plumbing and electrical systems, previous damage or repairs, environmental hazards, and any other material facts that could affect the value or safety of the property.
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