What do you need to know about selling a house in NC?

What do you need to know about selling a house in NC?

State law in North Carolina ( North Carolina Gen. Stat. § 47E-4) requires that sellers provide buyers a filled-out disclosure form, which sets forth the following details about the property: environmental conditions such as pest infestation, or the presence of asbestos, radon, methane, or other hazardous materials

When do you get your tax lien for selling your house in NC?

In North Carolina, annual tax liens are filed on the first of the year with bills being mailed out in August. This means that depending on what time of year you sell your house, you will owe the remaining portion of the taxes for that year.

Can a person living in a long term care facility buy a new house?

In that case, buying a new house is allowed if the house you purchase will be your primary residence, or if you have the “intent to return.” Individuals who are living in a long-term care facility aren’t able to live in a house as their primary residence and are unlikely to have a realistic “intent to return” due to health limitations.

Where can I find a real estate agent in North Carolina?

You can find licensed North Carolina real estate agents at the North Carolina Real Estate Commission’s Licensee Info Search. Once you find a real estate agent you want to work with, you’ll sign a “listing agreement” giving the agent the right to market and handle the sale of your house.

Is it legal to sell your house in North Carolina?

Whether you’re downsizing an empty nest or you’ve outgrown a starter home, selling your house can be complicated, with many legal ramifications. Although the steps involved in selling a home are similar regardless of where you live, North Carolina’s real estate laws and practices are unique in some respects.

What do you have to disclose when selling a house in NC?

RALEIGH (WTVD) — As a general rule, whatever you “disclose” about your house has to be correct. Also, if a seller or broker is specifically asked about something, they can’t give a false answer.

How much tax do you pay on selling a house in North Carolina?

This is basically a sales tax from the state on selling the house. you while you are selling your house in North Carolina. This amounts to $1 in $500 but it might be easier to think about it this way. For every $100,000 of your sale, you pay $200. For a $200,000 you pay $400 or for a $350,000 property, you pay $700.

Do you have to sell your house to go to a nursing home?

While you generally do not have to sell your home in order to qualify for Medicaid coverage of nursing home care, it is possible the state can file a claim against your house after you die, so you may want to take steps to protect your house.