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Real Estate

North Carolina Real Estate Law: An Overview for Property Buyers

December 8, 2022 By wrlaw

To buy a home in North Carolina, you’ll need to be aware of the state’s real estate laws. This overview by the North Carolina real estate attorneys at Wilson Ratledge will help you understand the basics of buying property in North Carolina, including how to inspect properties, contract and negotiate deals, and more. 

What Rights Do Buyers Have Under North Carolina Real Estate Law?

If you buy a home in North Carolina, you have specific rights. These include:

  • The Right To Inspect the Property Before Making an Offer

Homebuyers in North Carolina have the right to inspect the property and then make an offer based on the results of that inspection. While an inspection is not compulsory, it is advised to do it as it might help you with verifying the accuracy of all the information provided about the property. An inspection does not only include checking the building and looking for any damage. It also includes checking for zoning permits and other permits that may have been issued and verifying any information listed on the listing with government records. 

  • The Right To Receive a Written Disclosure of Any Known Defects in the Property

Homebuyers in North Carolina have the right to receive a written disclosure of any known defects in the property they are purchasing. This disclosure can help buyers make informed decisions about whether or not to buy a property and protect them from potential financial losses if there are any defects in the property. The disclosure must be provided before the buyer signs any paperwork related to the purchase, such as a contract or any related documents.

  • The Right To Reject an Offer if It Is Not What You Wanted

If there are any problems with the property, the buyer can either back out of the deal or try to work out a solution with the seller. As we already said, the seller is required to tell the buyer about any problems with the property before a contract is signed. If after the disclosure (or after your inspection) you have a problem with the property, you can reject the seller’s sale offer. Homebuyers can also sue if they believe their rights to reject an offer have been violated.

What Are Some Common North Carolina Real Estate Disputes That Buyers May Face?

When buying a home in North Carolina, buyers often disagree about things like closing costs, repairs, and title issues. It is essential to have an experienced real estate lawyer on your side if you are facing any of these disputes to protect your interests.

In addition, it is important to understand North Carolina’s property tax laws, as they can impact a buyer’s bottom line. Finally, be aware of any zoning restrictions that may apply to the property you’re interested in, as well as any building or land restrictions specified by the municipality in which the property is located.

Are There Any Special Steps That Buyers Should Take When Purchasing a Home in North Carolina?

In North Carolina, buyers are urged to work with professionals when purchasing a property. Below are three categories of people that you need to work with to ensure you get the best deal and that your rights are protected:

  • A Certified Real Estate Agent

When purchasing a home in North Carolina, it is important to have the right knowledge. This includes having a certified real estate agent on your team. Certified agents have completed an accredited program in real estate and are qualified to provide you with the best advice for purchasing a home.

Certified agents can help you identify which area of the state is best suited for you, as well as recommend specific neighborhoods or communities. They can also help connect you with local vendors and resources that will make your home-buying experience easier.

  • A Home Inspector

A home inspector is invaluable when purchasing a home in North Carolina. A home inspector can help you determine the condition of the property and whether or not it is worth purchasing. A home inspector will also be able to identify any potential defects that may need addressing before closing on the property. 

When choosing a home inspector, make sure to ask for references and review their credentials before making your appointment. It would help if you also asked questions about their experience inspecting properties in North Carolina.

  • A North Carolina Real Estate Attorney

When purchasing a home in North Carolina, it is important to work with an experienced real estate attorney. A real estate attorney can help you understand the property market, the different types of homes available, and the legal process involved in buying or selling a home. 

If you are purchasing property in North Carolina, it is important to consult with a Raleigh real estate attorney at Wilson Ratledge before making any decisions. Our attorneys have years of experience in the North Carolina real estate market and will help you navigate all the complex legal issues that may arise during your purchase. Contact us today to get started on buying your dream property in North Carolina!

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