Yesterday, we shared our top 5 tips for preparing your home or property in the event of a hurricane or natural disaster. Today, we are focusing on tips specifically for homeowners who have already listed their home for sale as well as those preparing to sell their home. Lisa Sullivan, Digital Media Director for Fonville Morisey Realty spoke with Rod Warner, an agent with our Brier Creek office and volunteer firefighter, about specific ways to protect property for home sellers.
Lisa also spoke with Sandy Hubbard, Staff Instructor at our own Fonville Morisey Center for Real Estate Studies to gain some specific insight with respect to the rules that pertain to material facts and the North Carolina Residential Property Disclosure form would apply.
The listing broker should visually inspect the property and have seller complete an updated disclosure only in the event that substantial damage has occurred due to a natural disaster (i.e. a tree has fallen on the property or home, a roof was torn off or is leaking profusely, etc.).
Remember a Material Fact is any information which the parties need to know in order to make an informed decision (i.e., which might affect the parties’ decision to purchase or sell, or which has the potential to put the contract or interests of the parties at risk).
Remember all brokers are responsible for disclosing any material fact that is easily discoverable. If during a post-hurricane inspection substantial damage is spotted the seller might consider.
- Making the repair (broken windows, missing shingles…etc)
- Hiring a contractor to make large repairs (in which case the material fact need not be disclosed)
For more information on the North Carolina Residential Property Disclosure form, talk to your listing agent or visit www.ncrec.gov.
Bottom line, as Mr. Warner stated in the interview, do the best you can humanly do to protect your assets in the event of an extreme weather event such as a hurricane.
Special thanks to Rod Warner and Sandy Hubbard for contributing to this piece.