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Property Disclosures: Seller's View

December 4, 2020 - 2:15 PM EST

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Property Disclosures: Seller's View

North Carolina Statute 47E requires sellers of single-family homes and buildings with up to four units to provide a property disclosure statement (NC Residential Property Disclosure) to potential buyers. The law gives you certain responsibiilties and gives the buyer certain rights that can significantly affect the sale of your property.

Other laws may also require you to disclose the existence of any environmental hazards associated with your property, such as the potential for lead based paint if your property was built prior to 1978, the presence of underground oil tanks, and whether your property is in a flood zone or other type of compromised or hazardous area.