Cary North Carolina Residential Real Estate Sales Disclosure Statement

• Category: North Carolina Real Estate - Home Sale
• State: North Carolina
• City: Cary
• Control #: NC-37014
• Format: PDF

Description

This form is a Seller's Disclosure Statement for use in a residential sales transaction in North Carolina. This disclosure statement concerns the condition of property and is completed by the Seller. Cary, North Carolina Residential Real Estate Sales Disclosure Statement serves as an essential document in the home buying process, designed to protect both buyers and sellers by ensuring transparency and full disclosure of any known defects and material facts related to the property. This statement is a legal requirement in Cary, North Carolina, and provides potential buyers with relevant information to make an informed decision. The Residential Real Estate Sales Disclosure Statement in Cary, North Carolina covers various aspects of the property, including its physical condition, known defects, environmental hazards, and any existing restrictions or encumbrances. It aims to provide buyers with a comprehensive overview of the property, enabling them to evaluate its suitability before making a purchase. Some key elements covered in the Residential Real Estate Sales Disclosure Statement may include: 1. Property Condition: This section outlines the current state of the property, including structural integrity, plumbing, electrical systems, and major appliances. It discloses any past or present issues, repairs, or renovations undertaken. 2. Known Defects: Sellers are required to disclose any known defects or issues with the property, such as leaks, mold, pests, or foundation problems. This information ensures buyers are aware of any potential shortcomings. 3. Environmental Hazards: The disclosure statement covers potential environmental hazards like asbestos, lead-based paint, radon gas, or underground storage tanks. These disclosures help buyers assess the property's safety and potential remediation costs. 4. Homeowners Association (HOA): If the property comes under an HOA, the statement will include details about the association, its fees, rules, and restrictions. Buyers can review this information to understand the community's regulations and their financial obligations. 5. Easements and Restrictions: The statement may include any easements, restrictions, or encumbrances on the property, such as shared driveways, boundaries, or utility access. This information helps buyers understand the potential limitations and rights associated with the property. In addition to the standard Residential Real Estate Sales Disclosure Statement, there may be specific variations or supplemental disclosures based on the property's unique characteristics, such as: 1. Condominium Disclosure: If the property is a condominium unit, there may be an additional disclosure statement outlining specific details about the condominium association, shared amenities, and fees. 2. New Construction Disclosure: When purchasing a newly constructed property or a property under construction, a specialized disclosure statement may be required to address construction-related aspects, warranties, and completion timelines. 3. Historic Property Disclosure: If the property is designated as a historic landmark or is located within a designated historic district, there may be additional disclosures regarding preservation restrictions, renovation guidelines, or potential tax credits. It is important for both buyers and sellers in Cary, North Carolina, to familiarize themselves with the Residential Real Estate Sales Disclosure Statement relevant to their particular situation. This disclosure statement promotes transparency and safeguards the interests of all parties involved in the real estate transaction.

Cary, North Carolina Residential Real Estate Sales Disclosure Statement serves as an essential document in the home buying process, designed to protect both buyers and sellers by ensuring transparency and full disclosure of any known defects and material facts related to the property. This statement is a legal requirement in Cary, North Carolina, and provides potential buyers with relevant information to make an informed decision. The Residential Real Estate Sales Disclosure Statement in Cary, North Carolina covers various aspects of the property, including its physical condition, known defects, environmental hazards, and any existing restrictions or encumbrances. It aims to provide buyers with a comprehensive overview of the property, enabling them to evaluate its suitability before making a purchase. Some key elements covered in the Residential Real Estate Sales Disclosure Statement may include: 1. Property Condition: This section outlines the current state of the property, including structural integrity, plumbing, electrical systems, and major appliances. It discloses any past or present issues, repairs, or renovations undertaken. 2. Known Defects: Sellers are required to disclose any known defects or issues with the property, such as leaks, mold, pests, or foundation problems. This information ensures buyers are aware of any potential shortcomings. 3. Environmental Hazards: The disclosure statement covers potential environmental hazards like asbestos, lead-based paint, radon gas, or underground storage tanks. These disclosures help buyers assess the property's safety and potential remediation costs. 4. Homeowners Association (HOA): If the property comes under an HOA, the statement will include details about the association, its fees, rules, and restrictions. Buyers can review this information to understand the community's regulations and their financial obligations. 5. Easements and Restrictions: The statement may include any easements, restrictions, or encumbrances on the property, such as shared driveways, boundaries, or utility access. This information helps buyers understand the potential limitations and rights associated with the property. In addition to the standard Residential Real Estate Sales Disclosure Statement, there may be specific variations or supplemental disclosures based on the property's unique characteristics, such as: 1. Condominium Disclosure: If the property is a condominium unit, there may be an additional disclosure statement outlining specific details about the condominium association, shared amenities, and fees. 2. New Construction Disclosure: When purchasing a newly constructed property or a property under construction, a specialized disclosure statement may be required to address construction-related aspects, warranties, and completion timelines. 3. Historic Property Disclosure: If the property is designated as a historic landmark or is located within a designated historic district, there may be additional disclosures regarding preservation restrictions, renovation guidelines, or potential tax credits. It is important for both buyers and sellers in Cary, North Carolina, to familiarize themselves with the Residential Real Estate Sales Disclosure Statement relevant to their particular situation. This disclosure statement promotes transparency and safeguards the interests of all parties involved in the real estate transaction.