Buyer’s Read Seller’s Disclosure

By
Real Estate Agent with Keller Williams Realty

As a buyer of property, be sure you read and understand the contents of the Seller's Disclosure prior to finalizing the sales price.  Sellers in most situations are required to provide a Seller's Disclosure Document that defines the real property items to be conveyed.  In addition, this Document will define defects in the property that significantly affect the value, desirability, safety and habitability of the property.   After reviewing the Document, do not be afraid to ask questions, and do more investigation.  If necessary hire a professional for the area(s) of concern.  A professional, should always give their response in writing.  This is very important, allows the buyer to have greater control in the negotiating the final sales price.  The above review and agreement on sales price must be completed prior to acceptance of the offer, or in the earlier stages closing process after the acceptance of the initial offer.   The rules governing this may vary depending on the transaction state.  Therefore, speak with a realtor for proper advice per your situation.  

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Rainer
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Alexandria Virginia
Featuring Susan Craft, CRS, REALTOR® - McEnearney Associates - Alexandria, VA
Real Estate Editor

One big problem we run into are bad disclosurs or discloures where the listing agent has coached the seller.  That's a no-no

Nov 09, 2009 07:49 AM #1
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