Sales Agent Form For Election
Description
How to fill out Agreement Between General Sales Agent And Manufacturer?
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FAQ
The Residential Property Disclosure Act, codified as North Carolina G.S. 47E, requires the seller of residential real estate (one to four dwelling units) to complete a form?known formally as the Residential Property and Owners' Association Disclosure Statement?disclosing conditions and defects with the property.
The disclosure of material facts are mandatory and must be disclosed freely to all parties in a transaction. The broker cannot decide to refrain from disclosing the material fact to any party because they believe that the material fact was common knowledge.
NC Real Estate Disclosure law mandates that sellers identify and disclose any known defects in their property before a purchase contract is signed. The purpose of this is to ensure that buyers are not surprised by a problem in the home and to defend the sellers from legal proceedings.
Hear this out loud PausePursuant to (21 NCAC 53 . 0204), Counselors in North Carolina are mandated to provide a Professional Disclosure Statement ?to each client prior to the performance of clinical mental health counseling services.
A buyer can file a lawsuit for breach of contract with intentional misrepresentation. The penalty for lying on the seller's disclosure includes the cost of repairs along with attorney fees. The buyer can file a case of fraud against the seller.