[Carolyn Henson]

Carolyn Henson

Hi, I’m in North Carolina and I have 2 houses I personally own. I plan to do a highest bidder sale. Do I need to disclose I personally own the property to bidders? I do not currently have a Real Estate license so I don’t as far as this relates to state law. Thanks!

[Ben Souchek]

Ben Souchek

Hi Carolyn,

You may have answered your own question……… Not sure what North Carolina state law states. You could call a couple of different local title companies and ask/confirm just in case.

Ben

[Mike Gibson]

Mike Gibson

Carolyn, I would be shocked to discover that there is any requirement to disclose that you personally own the property. However, I can’t see that there would be any harm in doing so. Anything that you own or have the right to buy, you have the right to sell. And, no, I know of no state (who knows about California, however, LOL) that requires you to have a real estate license to sell a property that you own.

[Carolyn Henson]

Carolyn Henson

Thanks Ben & Mike! I appreciate the feedback. You always ask these questions if you have been an agent. In NC. it’s a huge liability. You must “always” disclose you’re an agent & could possibly make a large profit. This is the reason I decided not to keep a real estate license. It’s a can of worms I don’t want to open… Carolyn

[Jackie Lange]

Jackie Lange

Carolyn

II agree with you that having a real estate license presents more CONS than PROS for most people. I would not take a license if they were giving them away.

Most people will assume that you are the owner when you do a Highest Bidder Sale. I doubt that you need to disclose that you are selling your own house.

[Carolyn Henson]

Carolyn Henson

Jackie,

Thanks for the reply. That’s what I thought also. Here, if you don’t carry a license it’s the buyers responsibility to check things out. They can’t come back if you made a “Profit” and say they were taken advantage of by a professional.

Usually, Less is Better!

Thanks,
Carolyn