Are you planning not to disclose that one thing you think may delay your home from being sold? Think again. Partial disclosures, whether intentional or unintentional, can get you embroiled in a lawsuit. But don’t worry–today, I’m sharing some things you must disclose to your potential buyers for a smooth closing:
Seller’s property disclosure. You have to disclose all information about the property, even damage that you have had repaired. Take the time to remember all the changes you’ve made to your property, as well as details that you may have overlooked.
“Partial disclosures can get you embroiled in a lawsuit.”
Lead-based paint disclosure. For houses built before 1978, given the potential health hazards caused by lead, you are mandated by law to disclose any presence of lead-based paint. This includes all the places where the paint was used, as well as the condition of the painted surfaces.
Community or neighborhood disclosure. This category of disclosure focuses on the community or neighborhood where your property belongs. Be sure to note down homeowners associations, if any, or if it is covered by a community development district. This applies to condominiums as well.
When filling out the property disclosure form, it is important to do your due diligence, put in the effort to remember all the relevant information about your property, and stick to the facts. You don’t necessarily need to explain the reasons for the changes unless potential buyers ask. To make things easier for you, it is best to go over that with a real estate professional like myself to help you with the finer details. So, if you’re planning to sell your property, give me a call or send me an email! I’m down to help you out with your real estate needs.
