The Wilmington North Carolina Residential Real Estate Sales Disclosure Statement is a crucial legal document that aims to protect both the buyer and seller in real estate transactions. This statement is required by law and must be completed by the seller to disclose any known material defects or issues in the property being sold. It provides potential buyers with relevant information about the condition of the property to make informed decisions. Keywords: Wilmington North Carolina, residential real estate, sales disclosure statement, legal document, material defects, property condition, buyer, seller, real estate transactions, known issues, informed decisions. Types of Wilmington North Carolina Residential Real Estate Sales Disclosure Statement: 1. Standard Sales Disclosure Statement: This is the most common type of disclosure statement used in residential real estate sales in Wilmington, North Carolina. It covers general information about the property, including its age, condition, known defects, and any significant renovations or additions. 2. Environmental Disclosure Statement: This type of disclosure statement specifically addresses environmental concerns and potential hazards associated with the property. It includes information about past usage (such as agricultural or industrial activities), the presence of hazardous materials, or any known environmental contamination. 3. Flood Zone Disclosure Statement: If the property is located in a flood-prone area, sellers are required to provide a disclosure statement specifically addressing flood risks. It includes details about the property's flood zone designation, past flood history, and any flood insurance requirements. 4. Homeowner's Association (HOA) Disclosure Statement: If the property is part of a homeowner's association, this disclosure statement focuses on HOA-related regulations, fees, restrictions, and any pending or ongoing legal disputes involving the HOA. 5. Lead-Based Paint Disclosure Statement: For properties built before 1978, sellers must provide a specific disclosure statement regarding the presence of lead-based paint. This disclosure addresses the potential health risks associated with lead exposure and outlines any known lead hazards in the property. Note: The specific types of disclosure statements and their requirements may vary. It is crucial for buyers and sellers in Wilmington, North Carolina, to consult with a real estate professional or attorney to ensure compliance with local laws and regulations.
Wilmington North Carolina Residential Real Estate Sales Disclosure Statement
Category:
State:
North Carolina
City:
Wilmington
Control #:
NC-37014
Format:
PDF
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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.
The Wilmington North Carolina Residential Real Estate Sales Disclosure Statement is a crucial legal document that aims to protect both the buyer and seller in real estate transactions. This statement is required by law and must be completed by the seller to disclose any known material defects or issues in the property being sold. It provides potential buyers with relevant information about the condition of the property to make informed decisions. Keywords: Wilmington North Carolina, residential real estate, sales disclosure statement, legal document, material defects, property condition, buyer, seller, real estate transactions, known issues, informed decisions. Types of Wilmington North Carolina Residential Real Estate Sales Disclosure Statement: 1. Standard Sales Disclosure Statement: This is the most common type of disclosure statement used in residential real estate sales in Wilmington, North Carolina. It covers general information about the property, including its age, condition, known defects, and any significant renovations or additions. 2. Environmental Disclosure Statement: This type of disclosure statement specifically addresses environmental concerns and potential hazards associated with the property. It includes information about past usage (such as agricultural or industrial activities), the presence of hazardous materials, or any known environmental contamination. 3. Flood Zone Disclosure Statement: If the property is located in a flood-prone area, sellers are required to provide a disclosure statement specifically addressing flood risks. It includes details about the property's flood zone designation, past flood history, and any flood insurance requirements. 4. Homeowner's Association (HOA) Disclosure Statement: If the property is part of a homeowner's association, this disclosure statement focuses on HOA-related regulations, fees, restrictions, and any pending or ongoing legal disputes involving the HOA. 5. Lead-Based Paint Disclosure Statement: For properties built before 1978, sellers must provide a specific disclosure statement regarding the presence of lead-based paint. This disclosure addresses the potential health risks associated with lead exposure and outlines any known lead hazards in the property. Note: The specific types of disclosure statements and their requirements may vary. It is crucial for buyers and sellers in Wilmington, North Carolina, to consult with a real estate professional or attorney to ensure compliance with local laws and regulations.
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