North Carolina Residential Property Disclosure Statement - Instructions
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1
2STATE OF NORTH CAROLINA
RESIDENTIAL PROPERTY DISCLOSURE STATEMENT
INSTRUCTIONS TO PROPERTY OWNERS
1.
G. S. 47E requires owners of residential real estate (single-family homes and buildings with up to four dwelling units) to furnish
purchasers a property disclosure statement. This form is the only one approved for this purpose. A disclosure statement must be
furnished in connection with the sale, exchange, option and sale under a lease with option to purchase (unless the tenant is already
occupying or intends to occupy the dwelling). A disclosure statement is not required for some transactions, including the first sale of
a dwelling which has never been inhabited and transactions of residential property made pursuant to a lease with option to purchase
where the lessee occupies or intends to occupy the dwelling. For a complete list of exemptions, see G. S. 47E-2.
2.
You must check one of the boxes for each of the 20 questions on the second page of this form.
a.
If you check “Yes” for any question, you must describe the problem or attach a report from an engineer, contractor, pest control
operator or other expert or public agency describing it. If you attach a report, you will not be liable for any inaccurate or
incomplete information contained in it so long as you were not grossly negligent in obtaining or transmitting the information.
b.
If you check “No,” you are stating that you have no actual knowledge of any problem. If you check “No” and you know there
is a problem, you may be liable for making an intentional misstatement.
c.
If you check “No Representation,” you have no duty to disclose the conditions or characteristics of the property, even if you
should have known of them.
d.
If you check “Yes” or “No” and something happens to the property to make your Statement incorrect or inaccurate (for example,
the roof begins to leak), you must promptly give the purchaser a corrected Statement or correct the problem.
3.
If you are assisted in the sale of your property by a licensed real estate broker or salesperson, you are still responsible for
completing and delivering the Statement to the purchasers, and the broker or salesperson must disclose any material facts
about your property which they know or reasonably should know, regardless of your responses on the Statement.
4.
You must give the completed Statement to the purchaser no later than the time the purchaser makes an offer to purchase your
property. If you do not, the purchaser can, under certain conditions, cancel any resulting contract (See “Note to Purchasers”
below). You should give the purchaser a copy of the Statement containing your signature and keep a copy signed by the
purchaser for your records.
Note to Purchasers: If the owner does not give you a Residential Property Disclosure Statement by the time you make your
offer to purchase the property, you may under certain conditions cancel any resulting contract and be entitled to a refund of any deposit
monies you may have paid. To cancel the contract, you must personally deliver or mail written notice of your desire to cancel to the
owner or the owner’s agent within three calendar days following your receipt of the Statement, or three calendar days following the date
of the contract, whichever occurs first. However, in no event does the Disclosure Act permit you to cancel a contract after settlement
of the transaction or (in the case of a sale or exchange) after you have occupied the property, whichever occurs first
5.
In the space below, type or print in ink the address of the property (sufficient to identify it) and your name. Then sign and date.
Property Address:
Owner’s Name(s):
Owner(s) acknowledge having examined this statement before signing and that all information is true and correct as of the date
signed.
Owner’s Signature:
Date:
Owner’s Signature:
Date:
Purchaser(s) acknowledge receipt of a copy of this disclosure statement; that they have examined it before signing; that they
understand that this is not a warranty by owner or owner’s agent; that it is not a substitute for any inspections they may wish to obtain;
and that the representations are made by the owner and not the owner’s agent(s) or subagent(s). Purchaser(s) are encouraged to obtain
their own inspection from a licensed home inspector or other professional.
Purchaser’s Signature:
Date:
Purchaser’s Signature:
Date:
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