Home Disclosures
As a seller, you will need to fill out a home disclosure
form in order to tell your potential buyers about the physical condition of
your property. Because the law regarding home disclosures varies from state to
state, we recommend you check with an escrow agent or someone else familiar
with the specifics of your locale.
REMEMBER, you only have to disclose those things you have
knowledge of.
If you had a problem, even once, such as your basement
flooding, disclose it, but don’t forget to put in the fact it happened only
once due to a Category 5 hurricane. If
you did have a problem and corrected it, it is no longer a problem. Since it
isn’t a problem any longer, there is nothing to disclose. BUT, always be honest
when if asked a specific question.
Other Home Disclosures
You’ll also have to fill out a lead paint disclosure if your
house was built before 1978. (Of course,
if you have no knowledge as to whether there is lead paint, that is all you are
required to say.)
You may also need a mold disclosure. (NOTE: This is new and
is not required in all states.)
NEVER LIE. Honesty is
the only policy. Just as we have all heard on TV courtroom dramas “Do you swear
to tell the truth, the whole truth and nothing but the truth?” Even though you will not be under oath,
everything you say or do, has to be the truth.
Some things that you do not have to disclose are how the
area has changed or that the neighbor next door was arrested for
counterfeiting.
REMEMBER: Home Disclosures are very important, are
required by law and they have to be signed by both you the seller, and the
buyer prior to closing or settlement.
More information for the For Sale By Owner seller
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