Contracts
The North Carolina Residential Property and Owners Association Disclosure Statement (RPOADS) must be provided to buyers of:
AAll commercial properties
BResidential properties (1-4 units) subject to certain exemptions✓ Correct
CNew construction only
DOnly properties subject to an HOA
Explanation
The RPOADS is required for transfers of residential real property (up to 4 units) and requires sellers to disclose known material facts. There are specific exemptions (first sale of newly constructed homes, foreclosures, etc.
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