Pink House Team
Keller Williams Realty
806-340-7630
What is a seller's disclosure and why do I need one to sell my home in Amarillo?
Every year, and sometimes every month, we get more and more paperwork for buyers and sellers in the real estate transaction. Most of this has to do with liability and lawsuits. Some of you may remember when we used a one page contract. Some of you may even remember a handshake. That doesn't apply to us anymore when you sell your house.
When you sell your home one of the forms that you need to complete is called a seller's disclosure. This 5 page disclosure gives you, the seller, and opportunity to disclose things about your home. That may sound easy but it may not be, too. The buyer is going to rely on what you write on the disclosure. Some things that you may not think is important may come back to bite you.
It has been said that the seller's disclosure is the most litigated document in a real estate transaction. The "he said" "she said" gets boiled down to several pages called a Seller's Disclosure. It is important that you take time to fill it out accurately.
By law, your Realtor can't do this for you or even help for that matter.
If you have a home inspection done, then you are obligated to disclose each and every thing on the report. If the inspector says that a light switch isn't working, you must put it on there.
Here is something that happens and it is not a good thing. Let's say you have a buyer and the buyer does a home inspection and the inspector mistakenly emails the report to me and I never get it. It goes directly to my junk box. According to the law, as I read it, you, the seller are now responsible to disclose anything that was on the report. If they email it and I don't open it? It doesn't matter. You still have to disclose. If it is the current buyer it doesn't matter because they have already seen the report. But what if that buyer "opts out" and now we find another buyer. The whole thing has to be disclosed.
This has actually happened to me. I was forced to send the report to my seller. It complicated the entire sale. I think that inspector still has a piece of my mind.
Remember to carefully read and disclose anything you know. It is not necessary to be paranoid but do not write that your heating unit is gas when it is actually electric. You might be buying a new unit!
Print the disclosure out from the above link and have it ready when I come to put your house on the market!
Don't Delay! Call today!
Pamela Madore
Pink House Team
Keller Williams Realty
7304 SW 34th
Amarillo, TX 79121
806-290-1920
http://myamarillohomes.com
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