Seller Disclosure

February 13, 2007

Question from J.D. "When you buy a home, are you supposed to get a seller's disclosure form?"

Well J.D., that is probably one of the most important documents that you will want to receive (or provide when you sell) when you purchase any property. The purpose and intent is to have the owner "disclose" everything that he or she knows about the property, to the "best of their knowledge."

You never want to buy nor transfer property without a disclosure. In fact the new disclosure form has just been revamped and now is four pages versus the previous two page form. The whole issue of disclosure, disclosure, disclosure is ever increasingly become a hot issue within the real estate community.

The seller's disclosure form covers the following areas:

  1. TITLE and access to the property, ie. leased, any options on it, etc.
  2. ENVIRONMENTAL - know of any hazardous waste, noise, etc.
  3. LAND - landfill, flood, etc.
  4. STRUCTURAL aspects of property, violations of codes,etc.
  5. PLUMBING - size of water heater, copper or plastic pipe, wells, septics, pools.
  6. ROOFS, GUTTERS, DOWNSPOUTS -roof flat, new/old, leaks, etc.
  7. HEAT/AC -evaporative, refrig., solar, fireplaces, smoke detectors,etc.
  8. BUILT IN APPLIANCES - gas, electric, vents, problems?
  9. HOMEOWNERS ASSOC. Is there one? dues, current, etc.,
  10. OWNERSHIP - all on title selling it, R.E. agent, etc.
  11. OTHER DISCLOSURES - pests, windows broken, fogged, screens on, carpets stained by pets, etc.


Upon sale of the property, the buyers receive and review this form and check for any RED FLAGS! Always be truthful on these forms as with pest inspections, home warranty inspections, roof inspections. The non disclosure which is discovered will be seen as the seller trying to hide something from the buyer and can blow the whole deal.

Related Searches

Related Videos & Photos
Stop and Relax in This Tres Chic Red Bathroom Stop and Relax in This Tres Chic Red Bathroom

Find a Reliable Contractor Now

image

Upcoming Home and Garden Shows:


See all Home and Garden Shows