I took a class by Risk Management Trainer, Robert Brand. As a realtor we have a duty to disclose all known facts to the agent materially affecting the value or disability and the seller has to disclose all the know facts. It will be a big surprise to new buyer later on found out the home problems from the neighbors' months. To help seller to disclose the known fact, we could ask the seller: " Is there anything wrong we need to let the buyer know?" It could be the noisy neighbors, backyard sliding , roof leaks, neighborhood crime. Any recurring problems really need to tell the buyer.
The risk management is the identificatin and treatment of liability exposures. This is accomplished by 3 options:
a). Avoid: Don't jump off from the airplane.
b). Reduce: Wear the seat belt in the car.
c). Transfer: Transer the libility by disclosing the known facts.
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