U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > North Carolina
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 05-13-2007, 04:44 PM
 
Location: Matthews, NC
14,693 posts, read 23,075,368 times
Reputation: 14332

Advertisements

I am looking to buy a house in the next year and have seen some listings that state "exempt from property disclosure". Is there a state law requiring property disclosure and if so how can any properties be exempt?
Reply With Quote Quick reply to this message

 
Old 05-13-2007, 05:15 PM
 
178 posts, read 809,984 times
Reputation: 72
Quote:
Originally Posted by bs13690 View Post
I am looking to buy a house in the next year and have seen some listings that state "exempt from property disclosure". Is there a state law requiring property disclosure and if so how can any properties be exempt?
New homes , forclosure homes and a renter buying their unit are the only exemptions allowed. All other homes, including for sale by owner, must give the prospective buyer a property disclosure statement. Hope that helps!
Reply With Quote Quick reply to this message
 
Old 05-15-2007, 06:49 PM
 
Location: Dilworth - Charlotte, NC.
549 posts, read 2,187,105 times
Reputation: 241
Quote:
Originally Posted by winston2000 View Post
New homes , forclosure homes and a renter buying their unit are the only exemptions allowed. All other homes, including for sale by owner, must give the prospective buyer a property disclosure statement. Hope that helps!
No wonder some new home builders get away with delivering homes not well made to people. That's why some many people recommend hiring a construction person to check out the building process. Thank you for sharing Winston.
Reply With Quote Quick reply to this message
 
Old 05-15-2007, 11:14 PM
 
Location: Charlotte
113 posts, read 419,633 times
Reputation: 32
I beleive, Initially whoever bought that house might have bought it as an investment property, therefore, they are selling it as some sort of investment property, they never lived in there. the law is different about selling your own residence and 'other property'.
Reply With Quote Quick reply to this message
 
Old 03-10-2008, 06:59 PM
 
1 posts, read 11,787 times
Reputation: 10
Default No Representation

What does "No Representation" mean? Is this an out for the seller? We have just found out that there is an easement that requires us to move our fence into our property by 18 feet (rear). Not disclosed by the Title Co. or the seller. Do we have a case for "loss of use"?
Reply With Quote Quick reply to this message
 
Old 03-10-2008, 07:42 PM
 
Location: Lenoir/Morganton, NC
148 posts, read 532,072 times
Reputation: 113
Quote:
Originally Posted by pinehurster View Post
What does "No Representation" mean? Is this an out for the seller? We have just found out that there is an easement that requires us to move our fence into our property by 18 feet (rear). Not disclosed by the Title Co. or the seller. Do we have a case for "loss of use"?
"No Representation" is sort of an out - it means that the seller doesn't state that there is or isn't a problem. However, it does not mean that the seller, or the real estate agents involved, if any, have "an out" that protects them from disclosing issues and defects that they know about. You may have a case, because the seller should've known and disclosed the easement before you purchased the property.
Reply With Quote Quick reply to this message
 
Old 03-10-2008, 07:48 PM
 
Location: Union County, NC
1,891 posts, read 5,546,710 times
Reputation: 749
Below is taken directly from the property disclosure form (which is completed by the SELLER):

"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."

While the seller may not have to disclose, the realtor MUST if this is something the realtor should have known. At this point, I think you ought to consult an attorney.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Options
X
Data:
Loading data...
Based on 2000-2016 data
Loading data...

123
Hide US histogram


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > North Carolina
Similar Threads
Follow City-Data.com founder on our Forum or

All times are GMT -6.

© 2005-2019, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top