In the state of North Carolina, you’re not required as a homeowner to disclose anything. You can check a box on the seller’s disclosure papers that says ‘no representation.’ We are in what is called a “buyer beware” state.
If you want to have a better chance of your home appealing to more buyers, disclosing can help. Typically, people are more comfortable making an offer on your home if they know more about it.
There is another rule for dealing with real estate agents in North Carolina: The owner has no responsibility to disclose anything, but the real estate agent is, however, required to report and disclose all material facts about the home regardless of the seller’s choice to disclose. For example, if you own a home that has a buried oil tank somewhere on the property and you choose not to disclose that fact, the agent is required by the state to disclose that knowledge to all potential homebuyers.
Despite disclosure not being required of North Carolina homeowners, we do find that most owners who disclose not only sell their home for more money, but they also sell their homes with fewer issues.
In today’s world, the buyer is going to have an inspection, and most of the undisclosed information would be found out anyway; it’s just easier to deal with it up front. Our professional advice to you is to disclose all the information about your property that you can. Disclosing can never go wrong. There are situations in which you might not have any knowledge of a particular fact about a home, but where you do have that knowledge, disclose it outright.
If you have any questions about this or other real estate topics, feel free to reach out to us. Don’t forget: Every Saturday at 9:30 a.m., we have a live real estate radio show on 84.5 FM where you can call in and ask your questions live on the air. We hope to hear from you soon!
