What You Need to Know About Charlotte Real Estate Disclosures
When buyers step into Charlotte real estate that is listed for sale, the may notice the seller has applied a fresh coat of paint or installed new carpet. While most sellers make updates like this to make their home more appealing to buyers, some are also trying to hide faults within their home, such as water damage or cracks.
As a Charlotte home seller, you are obligated to disclose all major property issues. A Charlotte home buyer should double-check the disclosure statement before signing any sort of Contract to purchase the home.
Read this important information about Charlotte real estate disclosures BEFORE listing your Charlotte home for sale or for buyers, before purchasing a Charlotte home:
- If you know it, disclose it. Don’t try to hide anything negative about a home you’re selling because it could come back to bite you. There are standard documents that sellers can fill out but, also know that verbal disclosures can be documented as well.
- Things you should disclose. Disclose all renovations, whether or not you were required to obtain a permit. Other normal disclosures include property line disputes, termite problems, chronic neighborhood disruptions (noise, etc.), major mechanical and appliance issues, among others.
- Disclosures and inspections are not the same thing. Some people get these confused. A disclosure is something the seller fills out and gives to the buyer. A Charlotte home inspection is conducted by an independent party and might bring to light issues of which the seller is unaware.
- Improper disclosure can result in a lawsuit. If buyers quickly discover that their new home has serious undisclosed issues or renovations that were hidden and aren’t up to code, they can ask their real estate agent to confront the seller’s agent and seek a settlement. If the seller does not cooperate, the buyers have the right to file a lawsuit.
If you’re getting ready to sell your Charlotte real estate and would like help deciding what to include in the disclosure, or if you’d like to buy a home and want to be sure you’re getting all the proper disclosures, I can help. Give me a call today at (704)491-3310 or email me at [email protected].
