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Accurate Disclosures Protect Broker AND CLIENT's Interests
There's been a great discussion going on elsewhere on this site about when and whether disclosures are in order, and what may be concealed during a real estate transaction.
Most brokers in most states agree that disclosure of ALL issues material to the consideration to be paid in a real estate transaction are required (your state's mileage may vary--I am specifically referring to MY great state of Arizona).
A question was posed whether it was required to disclose that decades ago, a fire necessitated a complete remodel of a home, prior to the seller's ownership of the property.
Well, how did the seller know about it? Through disclosures from the previous seller, most likely. Maybe the neighbors as well.
It was also stated by an observer that brokers were too worried about protecting THEIR interests, and tended to over-disclose.
Not exactly.
 
 
Accurate disclosures protect broker AND CLIENT's interests.
 
When there's a lawsuit, EVERYONE gets turned upside down to see who has the deepest pockets. That's usually the broker . . . but not always! And at the end, everyone's bloodied and bruised except the attorneys. Who needs that time, money, soul and reputation-sucking experience?
But but but . . . what about disclaimers? Okay, in a perfect world, ... more

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