The North Carolina courts have clearly recognized the caveat when it comes to real estate in our state. Cases ranged from structural integrity to the right to use an easement to access areas and square metres. Before two (2) parties can enter into a purchase agreement, seller must complete a declaration to submit any current issues in a form known as ownership disclosure. The seller must walk around the property and look for material defects such as leaks, fractures, electrical malfunctions or other types of problems that need to be known. In some states, the seller may be held liable if they become aware of a problem that is not reported. Once it is ready, it must be signed by the seller and sent to the buyer. Once the buyer has come into possession of the disclosure and verification of the property, he will sign the document and accept that he has received it. If a purchase contract has already been authorized, it must be attached and incorporated into the contract. The declaration of disclosure of ownership must be completed by the seller in most states to inform the buyer of material defects or information to be mentioned by law.

The declaration will also indicate whether the property is in a special area, para. B example in a floodplain or near a military base, or if the property has already been used for illegal use such as a methamphetamine laboratory. After the completion of the offer, the declaration must be sent to the buyer before or at the time of submission of the offer. The next parts will focus on the physical structure of the property. We begin with the seventh article (“VII. Foundation”). If the property has no problem with its compensation in its foundation and has no other problems with its construction and stability, check the “No” box in Article Seven. If this is the case, you should check the “Yes” box and use the “Other comments” section to report such issues. You can also indicate that you do not know this by selecting the third check box, or that this question does not apply to this property by selecting the fourth check box. If the property has a basement, crawl space or basement, you should make sure that there are no “leaks or excessive moisture” by checking the “No” box, indicating that there are such problems by checking the “Yes” box or that you do not know it by checking the third box.

If this property does not have such a range, you can select the fourth check box. Write down any information deemed relevant to this topic in the “Other comments” line. The next topic, entitled “IX Roof”, also deals with possible damage to the property. If the roof of the property has no leaks and there are no signs of excessive moisture, check the “No” box. If there are such problems or you do not know, you should choose “Yes” or “Unknown”. If this doesn`t really apply to the property for sale, check the fourth box. If the roof does not contain fireproof treated plywood, check the first box after the word “.” Plywood. If so, select “Yes”. If you do not have this information, or if it does not apply to the property you want to discuss, select the N/A check box.

Additional information can be reported as needed via the empty field labeled “Other comments”. In the tenth article, “X. Plumbing system”, we will discuss pipelines associated with the delivery of water to and from the property. If this system does not work or if you encounter operational difficulties, you must check the box labeled “No” in the first instruction. If it works properly and cleanly, check the second box and if it is “Unknown” or not true, check the third or fourth box. If there are no problems with the plumbing system, check the first box of the second question. If so, check the box labeled “Yes”, then use the box after the word “Explain” to report on the property`s plumbing issues. Additional comments can be made if necessary using the last point of this article.

The electrical systems of the property will be our goal in the next article “XI. Electrical system”. If there are no known problems with the power line, outlets or source, check the first box after the question “Are there any known problems with the electrical system?” If there are known problems with any of the electrical systems in the property, select the Yes check box. In case this information is unknown or does not apply, you can select the third or fourth box. Any information relating to wiring or other parts of the property`s electrical systems should be placed on the empty line after the words “Other comments”. Whenever you sell real estate, you are required to comply with local disclosure laws. This includes informing the buyer about specific hazards or issues affecting the property prior to the conclusion of the sale. California`s particularly strict disclosure requirements Sellers must complete a disclosure form and give it to buyers that lists a wide range of defects, such as. B, a leaky roof, deaths on the property within three years, neighborhood harassment like a dog barking every night, and much more. .