Home Seller Disclosure
Anything that could be
potentially harmful to the new occupant or the home itself must be addressed in
the seller's disclosure.
Seller disclosure can
include previous damage, homeowner's association fees, or any number of other
things. Following is more information
about home seller disclosure obligations.
Be sure your agent shows
you the disclosure document before signing.
You are responsible for the accuracy of the document, and can be held
liable for any inaccurate information contained within it.
Know your local disclosure
requirements. While there are federal
disclosure requirements, there may be some in your state or local area that may
be more inclusive than the federal guidelines.
Your real estate agent can keep you informed on where to find this
Be sure any defects in the
property are disclosed to buyers. This
includes the results of any home inspections and property surveys that have
recently been done. It also includes
information about any harmful chemicals that may be present in the home, such
as lead paint or asbestos.
If someone has recently
died in the home you are required to tell buyers of this fact. In most areas you must disclose this if the
death has occurred in the last three years.
There are also some areas
that require you to disclose potential natural threats to the home such as fire
hazards, earthquakes, and mudslides.
Your agent is required to
disclose any information that may affect a homebuyer's decision to make an
offer on a property. You must inform
your agent if you think the foundation may have a crack, even if you are not
sure that information must be disclosed.