919.260.3333 ncdwell@gmail.com

With more and more Sellers having their homes inspected before putting them on the market (commonly referred to as a “pre-listing inspections”), new disclosure questions arise. When a pre-listing home inspection turns up problems and the Seller elects to not fix them, what has to be disclosed to the potential Buyers? Well it depends on who has knowledge of the problems. The Seller does not have to disclose anything as long as they are not a NC licensed broker. However if the Seller’s agent is aware of repairs needed they must disclose them to all potential Buyers. If a repair was made to the house as a result of a pre-listing inspection, no matter how big a repair (foundation repair or leaky faucet), it does not have to be disclosed to anyone by anyone (so said the N.C. Real Estate Commission in a recent phone conversation). The problem that I have with this rule is that a Buyer will have to spend potentially a lot of non-refundable money before maybe discovering that a house has received major foundation work which is often necessary because of poor soils that exist under the house. When is the right time to learn about a significant repair that has been done to a home? Before I buy a car I can get a “CARFAX” report for $30.00 which would show me if a car that I want to buy has been in a collision. Seems to me that our state’s disclosure laws need to be re-examined.