Avoid becoming a target! Disclose! Disclose! Disclose!
Get the Seller’s Disclosures signed, initialed and dated when you take on a listing. Do not forgo this process or you could find yourself in a litigious situation. And if anything occurs during the listing period that affects the integrity of the property and you are aware of it, request that your seller sign new disclosures. You are obligated to relay the information.
......................................
If potential buyers must enter through a garage rather than the front door because it is off-kilter and sealed shut due to buckling, are you responsible to disclose that there may be settling issues?
YES!
......................................
If you were privy to an inspection report that pointed to radon levels in the basement (the potential buyers walked), are you obligated to disclose to other potential buyers?
YES!
......................................
If you discover after you have listed the home that it is located in a flood plane, do you disclose?
YES!
......................................
When you are ever in doubt regarding any disclosure issue, avoid becoming a target and talk to your broker. If your clients are uncooperative, cancel the listing, it isn’t worth risking your reputation, financial stability or your entire career.
And remember to Disclose! Disclose! Disclose!
Comments(25)