Seller Disclosures...what you should and shouldn't disclose. This is vital to ensure that you are safe during and after the sale of your home. Having seen many inspections throughout the years, a misrepresented defect can cost you thousands of dollars in repairs and/or the loss of the sale altogether.
Hi, I'm Danielle Abraham with RE/MAX NC Coastal Team. North Carolina is a "buyer beware" state, which means that although sellers must provide the Residential Property and Owners' Association Disclosures and the Mineral, Oil and Gas Rights Disclosure to buyers before they make an offer on a home, sellers are allowed to answer "no representation" on most of the points.
Be careful though! If you do decide to answer 'yes' or 'no', to the disclosure questions, you should do so honestly based on your actual knowledge, otherwise, you can be held accountable in a court of law for the truth and accuracy of the representations made. We definitely don't want that!
It is critical that you work with an agent who will provide these documents to you and will make your answers available to buyers. This will make sure you are covered! We want buyers to review the disclosures prior to making an offer, to help ensure the buyer doesn’t back out of the offer because they weren't provided the information. This is actually a safety net for not only the buyer but also the seller.
Watch the next video to learn about when you might need to update your disclosures. I'm Danielle Abraham with RE/MAX NC Coastal Team. Real Estate with a Purpose, where we put our clients and community first!
