In North Carolina, who is responsible for disclosing material facts in a transaction?

In North Carolina, the responsibility for disclosing material facts in a real estate transaction falls on both the seller and the listing broker. The seller must provide information regarding any known issues or defects with the property, as these can significantly affect a buyer’s decision. This typically includes things like structural problems, environmental hazards, or any zoning issues that could impact the property’s use.

The listing broker, representing the seller, also has a duty to disclose material facts as part of their fiduciary responsibilities. They must ensure that potential buyers are informed about any relevant details that could influence their purchasing decisions. This collaboration in disclosure helps maintain transparency in real estate transactions and protects the interests of all parties involved.

Other options don't capture the comprehensive nature of disclosure responsibilities. Buyers are generally not tasked with disclosing material facts about the property they may purchase. Local government and the real estate commission play roles in regulation and oversight but are not directly involved in the disclosure of facts about a specific transaction.