What do I have to disclose in a residential home sale?

Selling your North Carolina home can be exciting, but it can also be complex. Understanding the mandatory disclosures required by law is crucial to avoid costly mistakes that could derail your transaction.

Required Disclosures for North Carolina Home Sellers

When selling your home, you must provide a prospective buyer with a disclosure form that complies with North Carolina law before or at the time an offer is made. This form requires you to answer “yes” or “no” to questions about:

• Electrical systems
• HVAC systems
• Plumbing
• Structural integrity
• Sewage lines
• Fixtures
• Zoning
• Environmental concerns

Beyond the form, you must disclose hazards like radon, asbestos, and any history that could pose a risk, such as previous methamphetamine production in the home. Additionally, disclose upcoming nearby construction projects, pending litigation against the community, excessive noise, pollutants, and any known defects on the property.

Exemptions from Disclosure

Certain facts do not need to be disclosed, including:

• Deaths in the home
• Easily noticeable missing items
• Flood and fire damage, if repaired to local code
• Nearby sex offenders
• Square footage of the home
• Your financial status related to the mortgage
• Concerns about the home being haunted

Seeking Professional Guidance

Navigating the balance between required and non-required disclosures can be tricky. Failure to comply with disclosure laws can lead to legal liability. If you have questions or uncertainties about what to disclose, it’s essential to seek professional advice.

Remember, this post is not exhaustive regarding mandatory disclosures. If you’re unsure about specific facts, consult a professional to ensure compliance and protect your home sale and future. Be diligent and thorough to avoid jeopardizing your transaction.