The Facts About Charlotte Real Estate Disclosures
From new landscaping and a fresh coat of paint, to appliance upgrades and room remodeling, homeowners will go to great lengths to present their Charlotte homes for sale in the best light possible. However, sellers need to be aware that while they’re fixing up current flaws in their home, they shouldn’t cover up past ones.
That’s where the Disclosure comes in. All sellers are required to fill out property Disclosure forms with information about their properties, and every buyer should triple-check this form before signing on the dotted line of a Contract. Below are a few facts about Disclosures to help sellers ensure they’re doing the right thing when listing Charlotte real estate.
The Purpose of a Disclosure
Disclosures come in a variety of forms but, their primary function is to inform buyers about the state of a home, its past and its neighborhood. They also provide sellers with a safety net in case there is legal trouble down the road.
If You Know It, Disclose It
Disclosure laws vary from state to state; your REALTOR® will ensure that you’re filling out the proper paperwork. When listing past renovations, insurance claims from natural disasters, or new neighborhood construction, it’s best to err on the side of caution. List everything you can possibly think of, so the buyer can never say they weren’t informed.
When to Disclose
The seller usually provides the Disclosure prior to accepting the buyer’s Offer to Purchase. This allows buyers to carefully review the Disclosure prior to submitting an Offer. Providing the Disclosure to any potential buyers up front, the buyers know what they’re dealing with before ever even submitting an Offer to the seller.
What to Disclose
Items that sellers are required to Disclose include the age of the home, exterior construction, age of the roof, plumbing, electrical, HVAC and any room additions or renovations requiring permitting. If there is a known issue or past renovations, sellers are required to provide that information to all potential buyers.
Disclosure Versus an Inspection
While a seller’s disclosure form gives a property inspector a starting point for things to double-check, they are not the same thing. The buyer hires a property inspector after they’ve placed an Offer on the home to ensure there are no major issues. There could be problems of which even the seller is unaware.
If you’re getting ready to sell your Charlotte real estate and would like more information on what you should disclose, please call me at (704) 491-3310 or email me at DebeM@REMAX.net.
© Debe Maxwell | The Maxwell House Group | DebeM@remax.net | The Facts About Charlotte Real Estate Disclosures