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Get NC REC 4.22 2021-2024

STATE OF NORTH CAROLINA RESIDENTIAL PROPERTY AND OWNERS ASSOCIATION DISCLOSURE STATEMENT Instructions to Property Owners 1. The Residential Property Disclosure Act G*S* 47E Disclosure Act requires owners of residential real estate singlefamily homes individual condominiums townhouses and the like and buildings with up to four dwelling units to furnish purchasers a Residential Property and Owners Association Disclosure Statement Disclosure Statement. This form is the only one approved for this purpose. A disclosure statement must be furnished in connection with the sale exchange option and sale under a lease with option to purchase where the tenant does not occupy or intend to occupy the dwelling. A disclosure statement is not required for some transactions including the first sale of a dwelling which has never been inhabited and transactions of residential property made pursuant to a lease with option to purchase where the lessee occupies or intends to occupy the dwelling. For a complete list of exemptions see G*S* 47E-2. You must respond to each of the questions on the following pages of this form by filling in the requested information or by placing a check in the appropriate box. In responding to the questions you are only obligated to disclose information about which you have actual knowledge. a* If you check Yes for any question you must explain your answer and either describe any problem or attach a report from an attorney engineer contractor pest control operator or other expert or public agency describing it. If you attach a report you will not be liable for any inaccurate or incomplete information contained in it so long as you were not grossly negligent in obtaining or transmitting the information* b. If you check No you are stating that you have no actual knowledge of any problem* If you check No and you know there is a problem you may be liable for making an intentional misstatement. c* If you check No Representation you are choosing not to disclose the conditions or characteristics of the property even if you have actual knowledge of them or should have known of them* inaccurate for example the roof begins to leak you must promptly give the purchaser a corrected Disclosure Statement or correct the problem* If you are assisted in the sale of your property by a licensed real estate broker you are still responsible for completing and delivering the Disclosure Statement to the purchasers and the broker must disclose any material facts about your property which he or she knows or reasonably should know regardless of your responses on the Disclosure Statement. You must give the completed Disclosure Statement to the purchaser no later than the time the purchaser makes an offer to purchase your property. If you do not the purchaser can under certain conditions cancel any resulting contract See Note to Purchasers below. You should give the purchaser a copy of the Disclosure Statement containing your signature and keep a copy signed by the purchaser for your records.

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