Disclose, Disclose
We know that it is time consuming and frustrating to sell a home in this buyers market, but please do not fail to make the proper disclosures.
Not only is it illegal not to disclose material facts that can affect the value, desirability or saleability of a home, buyers will quickly walk away if they suspect deceit. However, we do understand that you may honestly not know about an issue. But if you do, report it.
First, we recommend that you get a home inspection performed so that you do know of any potential problems. An inspection shows your attempt at discovering anything wrong and it will help you know which items need repair. Even though you are not required to make certain repairs, at least you will know what could be asked of you from a buyer. You can use this report to help price your home, and it's also a good negotiating tool.
When trying to decide whether something should be disclosed, a good rule is "If in doubt, don't leave it out".
Disclosure Tips
Each state has a different set of disclosure rules. Your local or state real estate association, as well as your real estate agent, has the proper forms. Both you and the buyer must sign and date the disclosure report to acknowledge delivery and receipt.
Common items to disclose include: a loud neighbor, crime, busy streets, golf courses, equestrian trails and short term rentals, among others. If you'd want to know, your buyer will too.
Include any problems with construction, including problems with the foundation, roof, windows, doors, electricity, and plumbing.
Rather than just reporting "repairs", explain what you've had done and who did the repairs for you.
Likewise, you can tell a prospective buyer that you replaced the roof or installed a new water heater, etc.
Disclose insurance claims. Buyers dont want to discover insurance claims against the property when he or she applies for coverage.
A federally mandated lead-based paint disclosure is required for all transactions if the home was built before 1978. However, most agents advise making the disclosure for any property. The seller doesn't have to inspect for lead, but must give the buyer materials that discloses the hazards of lead-based paints and related consumer information.
Additionally, some miscellaneous disclosures that are required or should be considered include the locations of registered sex offenders, housing market conditions, and, if they happened in the home, certain deaths and certain causes.
Water in our Veins–Meet Lake James Real Estate
Please call us if we can help with any of your real estate needs at Lake James – who better to help you than people who live, play and work here!
Polly Leadbetter – Owner/Broker P/ 828-584-9999 C/ 828-443-5407
Shane Cook – Sales P/828-584-9999 C/828-443-3205
Rhonda Edge – Sales P/828-584-9999 C/828-443-6595
Amanda Hotchkiss – Sales P/ 828-584-9999 C/ 828-335-3001
Marc Parham – Sales P/828-584-9999 C/828-443-1337
Denice Rechtiene – Sales P/828-584-9999 C/828-432-6976
