What is the penalty for not disclosing something on a piece of property?
https://www.trulia.com/voices/Home_Buying/What_is_the_penalty_for_not_disclosing_something_o-454307

    If owner checks "No", owner is stating that they have no actual knowledge of any problem. If owner checks "No" and knows there is a problem, owner may be liable for making an intentional misstatement.

Home Inspection found termite damage in floor joists. Should I walk away?
http://www.city-data.com/forum/real-estate-professionals/1655490-home-inspection-found-termite-damage-floor-2.html

    in NC, previously treated termite damage that has been treated is NOT a disclosure-required item.

    I would add, most termite infestations are of almost no consequence structurally.
    Emotions too often derail common sense when someone says "Termites."

What Do North Carolina Home Sellers Need to Disclose?
http://thecameronteam.net/what-do-north-carolina-home-sellers-need-to-disclose/