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2020-01-28 10:06:21
What in the world are RPOADS and MOG?



It's All About Disclosure

The North Carolina Residential Property Disclosure Act requires owners of residential real estate (single-family homes, condos, townhomes, and buildings with up to 4 dwelling units) to furnish buyers with a Residential Property Owners' Association Disclosure Statement (RPOADS) and the Mineral and Oil and Gas Rights Mandatory Disclosure Statement (MOG).  The idea here is to encourage more disclosure by property owners of defects and problems with residential properties they are selling.  It is mandatory that the seller provide the buyer with the filled-out disclosure statements no later than the time the buyer makes an offer to purchase.

The Forms

The seller's agent may not fill out these documents.  They can only assist the seller in assessing the property and completing the form.  Remember this:  The law does not require the seller to actually disclose any known information about the property's condition or whether the mineral, oil and gas rights were severed from the property by a previous owner.  That's because the seller has the option of checking 'No Representation' to questions on the disclosure forms.  This North Carolina law is actually a voluntary disclosure law.  While the seller may opt not to disclose the conditions or characteristics of the property by checking the 'No Representation' box, if the seller's agent is aware of a material defect, then that agent must disclose it to prospective buyers.  The documents are signed by the owner(s) of the property before being presented to a prospective buyer.  The buyer(s) only sign them and submit them if they are making an offer to purchase the property.

Bottom Line

If the owner does not give you these signed disclosures by the time you make your offer to purchase the property, then you may be able to cancel any resulting contract under certain conditions.   Remember, the RPOADS is not a substitute for any buyers' inspections they wish to obtain.  It is not a warranty by the owner.  Finally, these disclosures are not required for every transaction.  As examples, the RPOADS is exempt for new construction homes (never occupied), and the MOG is exempt for vacant, unimproved land.  For a complete list of exemptions, click here.  But you will need to see them before making an offer on an ordinary resale of a single-family dwelling.
 
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