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Old 05-13-2007, 05:44 PM
 
Location: Matthews, NC
14,688 posts, read 26,491,257 times
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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?
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Old 05-13-2007, 06:15 PM
 
178 posts, read 872,637 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!
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Old 05-15-2007, 07:49 PM
 
Location: Dilworth - Charlotte, NC.
549 posts, read 2,377,076 times
Reputation: 244
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.
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Old 05-16-2007, 12:14 AM
 
Location: Charlotte
113 posts, read 455,347 times
Reputation: 33
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'.
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Old 03-10-2008, 07:59 PM
 
1 posts, read 12,432 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"?
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Old 03-10-2008, 08:42 PM
 
Location: Lenoir/Morganton, NC
148 posts, read 583,217 times
Reputation: 116
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.
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Old 03-10-2008, 08:48 PM
 
Location: Union County, NC
1,895 posts, read 6,140,542 times
Reputation: 774
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.
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