If your county assessed a North Carolina home too high, you can appeal to the Board of Equalization and Review. The deadline is the board's adjournment date, which varies by county and often falls in April or May. After the board decides, you generally have 30 days to appeal to the state Property Tax Commission.

What does the Board of Equalization and Review decide?

Each county has a Board of Equalization and Review, created under G.S. 105-322, to hear appeals about property assessments. The board can change a value or a classification if you show that the assessment is incorrect. It does not set the tax rate, and it can't undo a school or county levy that voters approved. If your bill jumped because the rate went up, that's not a board issue. If it jumped because the assessor says your house is worth $80,000 more than a recent sale would support, that's exactly what the board is for.

Counties revalue on a cycle that can run several years, and some also make annual adjustments. A general reappraisal year is when values move the most and when appeal volume is highest. Informal conversations with the assessor's office often come first and can fix obvious errors, such as the wrong square footage or a building that's been torn down. If that doesn't resolve it, the formal next step is the board.

When is the deadline?

Unlike some states that use a single statewide date, North Carolina ties the first formal deadline to the board's meeting schedule. The board has to meet after the assessor has completed the work for the year, and it adjourns on a date the county publishes. If you file after adjournment, you've missed the county-level appeal for that year.

Because the date changes by county and by year, look it up every year:

• Read the revaluation or assessment notice, which should explain how and when to appeal.
• Check the county tax office or Board of Equalization and Review web page for the current year's adjournment date and the form it wants.
• If you can't find a date, call the assessor and get the deadline in writing.

Examples from 2026 show how much the dates can differ: one county set an April deadline, another ran into mid-May. Don't borrow a neighbor county's date.

What evidence actually helps?

The board is looking at value, not at whether you can afford the bill. Useful evidence usually includes:

• The closing statement or recorded deed if you recently bought the house for less than the assessed value, with adjustments for any big changes since the sale.
• Comparable sales of similar homes in the same area, with notes on size, age, condition, and sale date.
• An independent appraisal, especially if it was prepared near the valuation date.
• Photos or contractor estimates that show condition problems the assessor may have missed, such as foundation damage or a roof at the end of its life.
• Proof of an error in the county record, such as an extra bathroom or unfinished space counted as finished.

Organize it in a short packet. A pile of printouts without an explanation is harder for the board to use than a one-page summary plus the supporting sales.

What if you disagree with the board's decision?

After the Board of Equalization and Review mails its notice of decision, you may appeal to the North Carolina Property Tax Commission. The Department of Revenue says you generally must file Form AV-14, Notice of Appeal and Application for Hearing, within 30 days of the board's notice, and include a copy of that decision. If you mail the appeal, the USPS postmark date is what counts for timeliness.

The Property Tax Commission is a state body. Its process is more formal than a county board meeting, and deadlines are strict. The Department publishes a FAQ and the AV-14 form on its property tax pages. If the amount at stake is large, many owners get advice from a lawyer or appraiser who knows Commission practice.

You can't skip the county board and go straight to the Commission in a typical assessment appeal. The county hearing is the first step, and the 30-day clock starts with the board's decision notice, not with your tax bill.

FAQ

Is there one statewide deadline to appeal a North Carolina property value?

No. You have to file with the county Board of Equalization and Review before that board adjourns. The adjournment date is set by the county and is often in April or May.

What if I miss the board's adjournment date?

You've generally missed the county appeal for that year. Some issues can still be raised later in limited situations, but don't plan on that. If the board has already decided your case, the usual next step is a 30-day appeal to the Property Tax Commission.

Does the board decide my tax rate?

No. It hears disputes about value and classification. Tax rates and levies are set elsewhere.

How do I appeal to the Property Tax Commission?

File Form AV-14 within 30 days after the county board mails its decision notice, and include a copy of that notice. Instructions are on the Department of Revenue's Property Tax Commission pages.

Next step

When your assessment or revaluation notice arrives, compare the value with recent sales and talk with a licensed local agent or an appraiser about whether an appeal is warranted. If it is, file with the county board before it adjourns, and keep a copy of everything you submit.

Sources: G.S. 105-322, Board of Equalization and Review; NCDOR, Property Tax Commission frequently asked questions; NCDOR, Form AV-14, Notice of Appeal.

In a typical North Carolina home purchase, the buyer and seller negotiate a due diligence period and often a due diligence fee. During that period the buyer can investigate the property and terminate for any reason. Once the period ends, that right is gone, and the earnest money is usually at risk.

What is due diligence in a North Carolina offer?

The North Carolina Real Estate Commission describes due diligence as the buyer's chance to look more closely at the property and the deal, within a period the parties agree to, and then decide whether to move forward or terminate. The standard Offer to Purchase and Contract used by many brokers, Form 2-T from the North Carolina Association of REALTORS and the North Carolina Bar Association, is the form the Commission discusses in its guidance. It is a widely used contract, not a form the state requires you to use.

On Form 2-T, the due diligence period starts on the effective date of the contract. The parties either pick an end date or a number of days, and time is of the essence. "Days" in that contract are consecutive calendar days, including weekends and holidays. Counting starts the day after the effective date. For example, NC REALTORS has explained that a 14-day period with an effective date of July 1 ends at 5 p.m. North Carolina time on July 15.

The length is negotiable. Buyers should bargain for enough time to finish inspections, a survey, an appraisal, a title search, and loan approval, and to negotiate any repairs. Sellers are not required to grant an extension. If you need more time, get the extension in writing before the period expires.

What is the due diligence fee, and do you get it back?

The due diligence fee, if there is one, is a negotiated amount the buyer pays the seller for the right to terminate during the due diligence period. The Commission notes that the amount can depend on the market, how long the house has been listed, the parties' circumstances, and the length of the period.

In the usual setup, that fee becomes the seller's money and is not refundable if the buyer terminates during due diligence. Earnest money, which is different, is typically refundable if the buyer terminates on time during the period. After the period expires, terminating can put the earnest money at risk. Always read the contract you actually signed, because the refund rules live there.

Form 2-T has also been updated over time on when the fee is due and what happens if it's late. If the fee isn't paid on time, that does not automatically end the contract. Sellers generally have to make a written demand and give a short cure period before they can terminate. If you're the buyer, don't treat that as a reason to delay payment. If you're the seller, don't assume a late fee means the deal is already dead.

What should a buyer actually do during the period?

Paragraph 4 of Form 2-T lists common items, and the Commission echoes them. A practical list includes:

• A home inspection, plus pest, septic, well, or radon tests if they apply.
• A survey and a title search, including easements and city or county repairs.
• An appraisal and a serious look at loan approval, not just a pre-qualification letter.
• Repair requests, knowing the seller does not have to agree to them.
• Review of the seller's disclosure statements, HOA documents, and any flood or insurance issues.

If you're not satisfied with the results or the pace, the Commission's advice is to terminate before the period expires unless the seller agrees in writing to extend it. There is a warning in the standard form to that effect.

Repairs the seller agrees to make do not have to be finished before due diligence ends, but they do have to be completed in a workmanlike manner before settlement. The buyer still has the right to verify those repairs and to do a final walk-through, even after the due diligence period has expired. A seller who refuses that access can be in breach.

FAQ

Can a buyer terminate for any reason during due diligence?

Yes, under the standard Form 2-T definition the Commission discusses. The due diligence fee is the price of that option, and it is generally not refunded. Earnest money is typically refunded if you terminate on time.

When does the due diligence period end?

It's negotiated. On Form 2-T it ends at 5 p.m. North Carolina time on the date or last day the parties selected. Days are calendar days, and counting starts the day after the effective date.

Does the seller have to make repairs the buyer requests?

No. Repair requests are negotiated. If the seller won't agree, the buyer's cleanest option is to terminate before due diligence expires, unless both sides sign an extension.

Is Form 2-T required by North Carolina law?

No. It's a standard contract published for REALTOR and attorney use, and it's the form the Real Estate Commission uses in its due diligence guidance. Private parties can use a different contract. Read the one you sign.

Next step

If you're buying or selling a North Carolina home, talk with a licensed local agent about how long a due diligence period you need, what fee is realistic in your market, and what has to be finished before the deadline. Get any extension in writing before the period ends.

Sources: N.C. Real Estate Commission, due diligence questions and answers; NC REALTORS, how to compute the due diligence period.

The NC Housing Finance Agency's Home Advantage Mortgage offers qualified buyers a fixed-rate loan and down payment help of up to 3% of the loan amount. First-time buyers, veterans, and buyers in targeted census tracts may also use a $15,000 deferred down payment. You apply through a participating lender, not at the Agency's front desk.

Who can use the NC Home Advantage Mortgage?

According to NCHFA's current home-buyer page, you may be eligible if:

• You are purchasing a home in North Carolina.
• You occupy it as your principal residence within 60 days of closing.
• Your annual income does not exceed $158,000.
• Your credit score is 640 or higher.
• You are applying for an FHA, USDA, VA, or conventional loan through a participating lender and you meet the sales price limits of that loan type.
• You are a legal resident of the United States.

The program is open to first-time and move-up buyers. Eligible properties include single-family homes, townhouses, condominiums, duplexes, and manufactured homes. Manufactured homes require a 660 credit score.

The $158,000 income cap and the up-to-3% down payment assistance were highlighted in an NCHFA press release on June 23, 2026, when the Agency raised income and sales-price limits. Always check the Agency's live income and price tables before you apply, because those figures can change.

The 3% assistance is a deferred second mortgage. Like the $15,000 option, repayment is required only if you sell, refinance, or transfer the home before year 15. The assistance is forgiven at 20% per year at the end of years 11 through 15, and it's fully forgiven at the end of year 15.

How is the $15,000 1st Home Advantage different?

The NC 1st Home Advantage Down Payment is an additional option for people who already qualify for a Home Advantage first mortgage and meet extra rules. NCHFA says you may be eligible if:

• You are a first-time home buyer, meaning you haven't owned a home as your principal residence in the past three years, or you are a military veteran, or you are buying in a targeted census tract.
• You meet the income and sales price limits, which vary by county and family size for this product.
• You are purchasing in North Carolina and will occupy the home as your principal residence within 60 days.
• Your credit score is 640 or higher, or 660 for a manufactured home.
• You are a legal resident of the United States.

The sales price limit for the 1st Home Advantage Down Payment is $525,000. The regular Home Advantage Mortgage follows the loan type's own price limits. Don't mix those two caps up when you look at listings.

The $15,000 is a 15-year, 0% deferred subordinate lien. You have to use the full $15,000. It can go toward eligible down payment, mortgage insurance, and closing costs. It cannot cover negative equity, and cash back is limited. If you sell, refinance, stop occupying the home, or breach the note before the loan is forgiven, the unforgiven balance comes due.

How do you actually apply?

You don't apply to NCHFA as if it were a retail bank. You choose a participating lender from the Agency's list, get pre-approved, and the lender reserves the product through NCHFA's system. Rates for the first mortgage are set daily on the Agency's website, Monday through Friday, and can change.

Bring the usual documents: income, assets, credit, and the purchase contract. If you're using the $15,000 option, be ready to show that you meet the first-time, veteran, or targeted-tract rule. You can have only one outstanding NCHFA loan or product at a time.

A lower rate and down payment help still have to fit the rest of the loan. Debt-to-income limits apply, and an automated underwriting finding of "Refer" or "Ineligible" is not accepted for the 1st Home Advantage program. If a lender tells you that you don't qualify, ask whether a different NCHFA product, or a non-NCHFA loan, is the better path, instead of stretching the numbers.

Homebuyer education is also worth asking about. Some loan types and down payment programs work more smoothly when you've completed a counseling class, and a HUD-approved counselor or an NCHFA partner class can help you budget for taxes, insurance, and the second-mortgage rules described above. If a seller wants a fast closing, tell your lender early that you're using an NCHFA product so the reservation, rate lock, and any second-lien documents are on the closing checklist.

FAQ

Do I have to be a first-time buyer to use Home Advantage?

No. The NC Home Advantage Mortgage is open to first-time and move-up buyers who meet the income, credit, and occupancy rules. The $15,000 1st Home Advantage Down Payment is limited to first-time buyers, veterans, and purchases in targeted census tracts.

Is the down payment assistance a gift?

No. It's a 0% deferred second mortgage. It's forgiven on a set schedule in years 11 through 15, but it can come due earlier if you sell, refinance, or stop living in the home.

What credit score do I need?

NCHFA's published minimum is 640, or 660 for a manufactured home. Lenders and loan types can require more.

Where do I apply?

Through a participating lender, not by walking into NCHFA. The Agency publishes a list of lenders and current rates at nchfa.com.

Next step

If you're buying a home in North Carolina and need down payment help, talk with a participating lender and a licensed local agent about Home Advantage and, if you qualify, the $15,000 1st Home Advantage option. Check today's income limits and rates on the Agency's site before you write an offer.

Sources: NCHFA, NC Home Advantage Mortgage; NCHFA, NC 1st Home Advantage Down Payment; NCHFA, June 23, 2026 income and price limit announcement; NCHFA, home buyer income limits.

For the 2027 tax year, North Carolina's elderly or disabled homestead exclusion is available if your prior-year income is $39,900 or less. It takes the greater of $25,000 or 50% of the home's appraised value off the tax roll. You file Form AV-9 with your county tax assessor by June 1, 2027, not with the Department of Revenue.

Who qualifies for the elderly or disabled exclusion?

G.S. 105-277.1 and the official 2027 AV-9 form set the basic rules. A qualifying owner must be at least 65, or totally and permanently disabled, as of January 1 of the tax year. The home has to be the owner's permanent legal residence. Income for the previous calendar year, 2026 for the 2027 tax year, cannot exceed the year's limit, which is $39,900 for 2027.

The exclusion is the greater of the first $25,000 or 50% of the appraised value of the permanent residence. On a $240,000 home, 50% is $120,000, so that's the amount removed from taxation. On a modest home valued under $50,000, the $25,000 floor may be the better number.

If you're under 65 and claiming a disability, you also file Form AV-9A, a certification of disability. Spouses who own the home together file one application. Other co-owners generally file separately, and benefit limits can apply when there are multiple owners.

Once you're approved, the exclusion typically continues each year as long as you still qualify. File a new application if you move or the owners on the deed change. Tell the county if your income, ownership, or residence changes.

What about the disabled veteran exclusion?

The disabled veteran exclusion under G.S. 105-277.1C takes up to the first $45,000 of appraised value off a permanent residence. There is no age or income limit.

A disabled veteran, for this program, is a veteran whose character of service at separation was honorable or under honorable conditions and who has a total and permanent service-connected disability, or who received benefits for specially adapted housing under 38 U.S.C. 2101. The disability has to have existed as of January 1 of the year you request the benefit. An unremarried surviving spouse of a qualifying veteran, or of a servicemember who died of a service-connected condition in the line of duty, may also qualify.

Veterans usually attach Form NCDVA-9, completed with help from a Veterans Service Officer.

How does the Circuit Breaker deferment work?

The Circuit Breaker program doesn't exclude value. It limits the tax bill to a percentage of income and defers the rest. For 2027:

• If prior-year income is $39,900 or less, the tax on the home is limited to 4% of that income.
• If income is above $39,900 but no more than $59,850, the tax is limited to 5% of income.

You must be 65 or totally and permanently disabled, and you must have owned and occupied the property for the last five full years before January 1. You have to file a new AV-9 every year. All owners (other than husband and wife) must qualify and elect the program, or no one gets the benefit.

Taxes above the cap are deferred, not forgiven. They remain a lien. When a disqualifying event happens, the last three years of deferred taxes, plus interest, become due. Disqualifying events include the owner's death, a transfer of the property, or the home no longer being the owner's permanent residence. Some exceptions apply; the statute is G.S. 105-277.1B.

You can receive only one of the three programs. The Circuit Breaker cannot be combined with either exclusion. If you're not sure which is best, you can mark more than one on the AV-9 and let the county show you the options once values and rates are set.

How and when do you apply?

Submit Form AV-9 to the county tax assessor where the property is located by June 1. The Department of Revenue publishes a county assessor list, and it tells you not to mail the form to the Department. Attach the first two pages and Schedule 1 of your prior-year federal return, or other income proof if you don't file. Late applications may be accepted for good cause, but approval generally applies only to the current year.

What counts as income, and what date matters?

Eligibility is determined as of January 1 of the tax year. Age, disability, ownership, and residence are all tested on that date. Income is the previous calendar year's figure. For a 2027 application, that's 2026 income, including both spouses if you live together.

The AV-9 requires you to disclose a Social Security number and to attach the first two pages and Schedule 1 of your federal return, or other proof if you don't file. Married applicants who file separate federal returns must submit both. The county can share information with the Department of Revenue to verify income, and the return is treated as confidential.

A life estate can count as ownership. Time away for health care, including a stay in a nursing or rest home, does not automatically end eligibility if the home remains your permanent residence and is empty or occupied by a spouse or a dependent. If you only own a share of the property, the benefit may be reduced, which is why co-owners other than spouses file separate applications.

Requirements can change, and the income limit is adjusted each year. Don't reuse a 2026 number for a 2027 filing.

FAQ

What is the 2027 income limit for the elderly or disabled exclusion?

$39,900, based on 2026 income. The limit is adjusted each year, so don't assume last year's number still applies.

Do I send Form AV-9 to the Department of Revenue?

No. File it with the county tax assessor. The Department's form is clear about that.

Can I use the Circuit Breaker and the homestead exclusion at the same time?

No. Each owner may receive only one of the three programs.

Does the disabled veteran exclusion have an income test?

No. It excludes up to $45,000 of appraised value with no age or income limitation, if you meet the disability and service requirements.

Next step

If you're 65 or older, disabled, or a disabled veteran, talk with your county tax assessor or a licensed local agent about Form AV-9 well before June 1, 2027. Bring last year's tax return so you can see which program actually lowers your bill.

Sources: NCDOR, 2027 Form AV-9, Application for Property Tax Relief; G.S. 105-277.1, elderly or disabled exclusion; G.S. 105-277.1B, Circuit Breaker.

North Carolina charges an excise tax of $1 for every $500, or fraction of $500, of the sale price when real estate is conveyed. The seller, as transferor, pays it to the register of deeds before the deed is recorded. A $250,000 sale costs $500; any leftover fraction of $500 rounds up.

How is the tax calculated?

G.S. 105-228.30 sets the rate at one dollar on each five hundred dollars or fractional part of the consideration or value of the interest conveyed. You divide the sale price by $500 and round up any leftover, then multiply by $1. That works out to $2 per $1,000, with rounding up to the next $500 increment.

Examples:

• A $200,000 sale is exactly 400 units of $500, so the tax is $400.
• A $287,250 sale is 574.5 units, which rounds up to 575, so the tax is $575.
• A $400,100 sale is not $800.20. The extra $100 is a fractional part, so you round up to 801 units, or $801.

The tax is reported when the deed is presented for recording, and the register of deeds collects it and marks the instrument to show the amount paid. If a parcel sits in two counties, the tax is paid in the county where the greater part of the property, measured by value, lies.

By statute the transferor pays. In a typical sale that's the seller, though parties sometimes shift costs in the contract. The legal obligation to the register of deeds still sits with the transferor.

Which transfers are exempt?

G.S. 105-228.29 says the excise tax does not apply to transfers:

• By operation of law.
• By a lease for a term of years.
• By will or by intestacy.
• By gift, or where no consideration in property or money is due or paid.
• By merger, conversion, or consolidation.
• By an instrument that secures a debt, such as a deed of trust.

That last point is easy to miss. The buyer's deed of trust to the lender is not subject to the tax. The deed from seller to buyer is. Timber deeds and contracts for the sale of standing timber are taxed as if they conveyed an interest in real property.

Governmental units and their instrumentalities are also outside the article's scope.

Do some counties charge more?

Yes. The statewide excise tax is only the state levy. Some counties, especially in the northeast coastal area, also collect a local land transfer tax. Dare County and Currituck County, for example, each charge a local land transfer tax of $1 per $100, or 1%, under county authority granted by session law. On a $400,000 Dare County sale, that local tax alone would be $4,000, on top of the state excise tax.

Other nearby counties have also adopted local transfer taxes. The list and the rate can change, so don't rely on a memory of which counties charge what. Ask the register of deeds in the county where the property sits, and have your closing attorney show both the state excise tax and any local transfer tax on the settlement statement.

Who gets the state tax money?

The register of deeds remits the proceeds to the county finance officer. The county keeps one-half for its general fund and sends the other half, after refunds and a small administrative allowance, to the Department of Revenue each month. The county may keep 2% of the state's share as compensation for collecting it.

For buyers and sellers, the split is background. What matters at the closing table is the dollar amount and who the contract says will pay it.

The amount also has to be reported accurately. G.S. 105-228.32 says the person who presents the instrument for recording must report the tax due, and it's that person's duty to report the correct amount. The register of deeds collects the tax and marks the instrument before it can be recorded. If the number on the deed doesn't match the contract price, the recording can be delayed until someone fixes it.

What should you check on the closing statement?

The excise tax is easy to overlook in a long settlement statement, especially if you're also paying a local land transfer tax, attorney fees, and prorated property taxes. Before you sign, look for:

• The sale price used to compute the tax, and whether it matches the contract.
• The state excise tax line, rounded up to the next $500 increment if needed.
• Any county land transfer tax, labeled clearly and calculated at that county's rate.
• The party who is paying each tax, as the contract requires.

If you're the buyer, confirm that the deed cannot record until the tax is paid. A recorded deed with the tax stamp or notation is your proof that this step was finished. If you're the seller, ask your attorney whether any unusual consideration, such as a trade or a sale of a partial interest, changes the "consideration or value" used for the tax. When the price isn't a simple cash number, get that calculation in writing.

FAQ

How much is the North Carolina excise tax on a $350,000 house?

$350,000 divided by $500 is 700, so the state excise tax is $700, paid by the transferor at recording. Add any local land transfer tax if the county charges one.

Who pays the excise tax, the buyer or the seller?

The statute says the transferor must pay it to the register of deeds before the deed is recorded. In a sale, that's the seller, unless the contract shifts the cost.

Is a deed of trust subject to the excise tax?

No. Instruments that secure a debt are exempt. The deed that conveys the property is the instrument that is usually taxed.

Do all 100 counties charge only $1 per $500?

The $1 per $500 rate is the statewide excise tax. Some counties add a separate local land transfer tax. Confirm with the register of deeds for that county.

Next step

Before you sign a purchase contract, ask a licensed local agent and your closing attorney to estimate the state excise tax and any local transfer tax on the sale price, and to confirm who will pay them at recording.

Sources: G.S. 105-228.30, imposition of excise tax; G.S. 105-228.29, exemptions; Dare County Tax Department, land transfer tax; Currituck County tax rates.

Most North Carolina sellers of residential property must give the buyer a Residential Property and Owners' Association Disclosure Statement before the buyer makes an offer, along with a mineral and oil and gas rights mandatory disclosure. If those statements aren't delivered on time, the buyer may cancel the contract in writing within three calendar days and get the deposit back.

What forms does the law require?

Chapter 47E of the General Statutes, the Residential Property Disclosure Act, requires owners of most residential real estate to furnish a disclosure statement. The official form is the Residential Property and Owners' Association Disclosure Statement, often called RPOADS, published by the North Carolina Real Estate Commission. It applies to sales, exchanges, options, and some lease-purchase deals involving single-family homes, condos, townhouses, and buildings with up to four dwelling units.

Sellers also have to provide the Mineral and Oil and Gas Rights Mandatory Disclosure Statement. The Commission has long told brokers that most residential sellers must give buyers both forms.

There are exemptions. A common one is the first sale of a dwelling that has never been inhabited. Transactions under a lease with option to purchase can also be exempt when the tenant already occupies or intends to occupy the home. The full list is in G.S. 47E-2. Owners who think they're exempt should get legal advice instead of skipping the form on a guess.

What does the seller have to say on the RPOADS?

The owner, not the listing broker, completes the statement. Every question needs an answer: yes, no, no representation, or, where it applies, not applicable. "No representation" means the seller is choosing not to disclose that item, even if the seller knows about it. The Commission is blunt that this option means the form does not actually force a seller to reveal every defect.

That does not make false answers safe. If a seller marks yes or no, the answers have to be honest and based on actual knowledge. A seller who knows about a problem and marks no can be liable for an intentional misstatement. Latent, or hidden, defects can also create civil liability if they're not disclosed. If something changes after the form is delivered, such as a roof that starts leaking, the seller has to promptly give a corrected statement or fix the problem.

The form covers the home's systems and conditions and, in Section H, owners' association information when the property is in an association. That section asks about regular dues, approved changes to dues or special assessments, transfer fees charged on a sale, and pending lawsuits or unpaid judgments involving the lot or the association.

A broker's duty is separate. Even if the owner chooses "no representation," a licensed broker still has to disclose material facts the broker knows or reasonably should know.

When does the buyer have to receive the forms, and when can the buyer cancel?

G.S. 47E-5 says the owner must deliver the required disclosure statements no later than the time the purchaser makes an offer to purchase, exchange, or option the property, or exercises an option under a lease-purchase. The statements can be in the contract, in an addendum, or in a separate document.

If they are not delivered before or at the time of the offer, the purchaser may cancel any resulting contract. That right expires at the earliest of:

• The end of the third calendar day after the purchaser receives the disclosure statement.
• The end of the third calendar day after the contract was made.
• Settlement or occupancy by the purchaser, in a sale or exchange.
• Settlement, in a lease-purchase.

To cancel, the purchaser has to give written notice to the owner or the owner's agent by hand delivery or by prepaid U.S. mail, properly addressed, within that time. A cancellation that follows the statute is without penalty, and the purchaser is entitled to a refund of any deposit. Other contract rights, including a due diligence termination, are separate and are not taken away by this section.

FAQ

Can a seller just check "no representation" on every line?

Yes, on items that offer that choice. It means the seller is declining to disclose those conditions, even if the seller knows about them. Brokers still have to disclose material facts they know or should know, and sellers can still be liable for hidden defects or for false yes-or-no answers.

What if I get the disclosure after I already made an offer?

You may have a three-calendar-day window to cancel in writing, as long as you have not already settled or moved in, and as long as you give notice the way G.S. 47E-5 requires. You should also still have whatever due diligence rights your contract provides.

Are new construction homes exempt?

The first sale of a dwelling that has never been inhabited is a listed exemption. Confirm the exemption in G.S. 47E-2 before skipping the form.

Is the mineral and oil and gas rights form still required?

Yes. The Commission treats the mineral and oil and gas rights mandatory disclosure as a second required statement for most residential sales, alongside the RPOADS.

Next step

If you're selling, complete both disclosure forms before you accept offers and answer honestly where you choose to answer. If you're buying, have a licensed local agent walk through the RPOADS, the mineral rights form, and any HOA answers with you before due diligence ends.

Sources: G.S. 47E-5, time for disclosure and cancellation; N.C. Real Estate Commission, Residential Property and Owners' Association Disclosure Statement; N.C. Real Estate Commission, sellers must provide two disclosure statements.