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what to expect when you're expecting (to buy a home) [pt 3 of 3]
The following is a reprint of my column that appeared in Frontiers In L.A. magazine on January 19th, 2011
The question I’ve spent the last two issues addressing is, what exactly does the process of buying a home look like? What should one expect? I’ve tried to really break it down for you in as much detail as possible while still keeping it somewhat brief.
8. Disclosures. In the last column, while on the subject of inspections and repairs, I briefly mentioned disclosures. The first week of the escrow period is also when you will receive, via your agent, a stack of state-mandated disclosures that the seller is required to provide (all on forms provided by California Association of Realtors) regarding the property. This is the seller’s opportunity to disclose to you anything and everything they know regarding the condition of the property, the neighborhood, the land, the structure itself—anything—that they know that might affect the salability of the property. Failure to disclose is one of the leading causes of lawsuits between buyers and sellers. When I’m working with sellers, especially on high-end properties, my advice is “when in doubt, disclose.” In other words, if you have to ask, just disclose ... more

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