Property Disclosures How to Fill Them Out

By
Real Estate Agent with Keller Williams Chervenic Realty

When you sell your home you need to fill out a Property Disclosure Statement. In Stow, Ohio it is a four page form. It asks questions about water intrusion, roof leaks, hazardous materials, water and sewer systems, mechanical systems, zoning/code violations and and questions about assessments. Many sellers worry about writing down too much information about problems they have had with their home, but the best advise I can give you is to write down every possible problem and what you did to fix it. Once you have an accepted contract on your home the buyer is going to do a home inspection and the home inspector will note EVERYTHING he sees. If you mentioned it on your Property Disclosure, then the buyer will already be aware of it and it won't be a big surprise. Overdisclose is the way to go. If you don't disclose eventually it will catch up with you.

My best example is the seller who said his basement was dry. The buyer bought the home and found out the basement had water problems. They called the city to ask questions about how to fix it and the city told them oh, we know all about your home, the previous owner called us numerous times about the problem. The buyers sued the seller and he had to waterproof the basement.

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Susan Sawyer

Real Estate Expert - Hudson Ohio
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