Seller's Disclosures

Real Estate

Seller's Disclosures -

So your selling your home and it's time to fill out the Seller's Disclosure.

 

Answer ALL questions to the best of your ability. Don’t sweat the small stuff, but make sure you disclose everything that you’d want disclosed to you if you were the buyer. If you don’t know the answer to a question answer “Do Not Know.” But not having precise facts about defects you know exist does not permit you to answer “Do Not Know” to every question. This will always raise a red flag. Just use your common sense and be honest and fair. 

Recently I had a client/seller that had an insurance claim and didn't repair all of the items because some of the items covered were cosmetic and not noticeable.  They didn't think this was a big deal because at the time of the claim they weren't planning on selling their home.  Several months later when they completed the Seller's Disclosure they didn't disclose because it was in the passed.  This was an honest mistake on their part but it's not okay and cause major problems for the seller and potentially the agent too.

#11 In the Seller's disclosure says - "Has the Seller ever collected any insurance payments pursuant to a claim you have made for damage to the Property and then not used the proceeds to make the repairs for which the claim was submitted"  If Yes Explain Why.

 

Just remember - Read Carefully and Complete the Seller's Disclosure to the best of your ability and be honest