Seller Home Disclosure:
Disclose, disclose, disclose:
The seller is legally required to complete a residential disclosure questionnaire - in most states. If one is not required, you should still disclose any serious defects, otherwise you’re opening yourself up to a potential lawsuit. The days of “let the buyer beware” disappeared during the last century.
Most states don’t require disclosure of problems that have been repaired while others insist that you disclose a condition that was a problem even though it has been fixed. If there is any question call a local real estate office, attorney, or your city-planning department about local ordinances (rare) that affect your sale. Many states make them available online.
Most states do not require a disclosure for property being sold as an estate or one in which the seller never occupied the home. Check with your attorney.
Real estate agents shouldn’t advise you how to answer a seller disclosure form since it would greatly increase their liability.
Click HERE and select the state where your property is located. Information on your state, including a link (if available) has been set up to obtain a seller disclosure.
Disclosures can usually be provided to the buyers after the contract is signed (depending upon state law). However, this could provide a legal out for buyers should the disclosures reveal a condition that is unsatisfactory to them. Problems are more acceptable when disclosed before a contract has been negotiated.
If your home was built prior to 1978, federal law states that you must complete a disclosure about lead based paint on your property even if you have no knowledge of such. You can obtain the official Seller’s Disclosure of Information on Lead Based Paint form at epa.gov (look under Forms and Instructions for the Sample Form for a Seller's Disclosure) or by calling 1-800- 424-5323.
During negotiations, buyers may specify, at buyers' expense, that a test for lead based paint be performed.
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