Repairs Need to Disclosed When Selling A Home in Palo Alto

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Real Estate Agent with eXp Realty of California Silicon Valley Probate, Trust, and Investment Sales B.R.E. 01191194
https://activerain.com/droplet/MMz

If you are selling your home in Palo Alto that you have been living in for 20, 30, 40, or 50 years, you have probably done a lot of repairs and/or improvements over the years. When it comes time to sell, the disclosures will ask you to list these improvements. The amount of space you are given is fine for someone who has lived in a house 5-7 years but completely useless for many of the long time Palo Alto residents who have spent decades here. Palo Alto is such a wonderful to place to live, there just are not that many people who want to sell their Palo Alto home and move somewhere else.

However, if you are one of those people who is going to sell your home in Palo Alto the easiest way to disclose your repairs and upgrades is to make a separate list and add it to the disclosures, not to try to fit them on the existing paperwork.

Start by having one list for the repairs you have made. This would include things like calling rotor rooter to snake out the sewer line, or fixing a leaking sink. If the thing you repaired is no longer in the house, like a burner on a stove you no longer have then it does not have to be listed.

You should have another list for improvements. This would be things like putting in double paned windows, a new kitchen, or a new roof. You will find this list very helpful when you have to determine the basis of value when selling your home in Palo Alto. Talk to your accountant about that one.

So if you are a long time Palo Alto homeowner and you are going to sell your home in Palo Alto be sure and make a list of the repairs and improvements you have done over the years and add them as an addendum to the standard disclosures. Do not just fill in the repairs you can fit on the disclosure page and stop there.

If you have any questions about selling a home in Palo Alto please feel free to contact me.

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

650-619-9285

DRE 01191194

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Marcy Moyer eXp Realty of California  Specializing in Probate and Trust Sales, and Rental Investment Properties

 

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Ki Gray
SkiHomes.com LLC - Aspen, CO
SkiHomes.com - the ultimate snowsport home search!

Great advice, Marcy.  Your clients are going to be very well informed. :)

Dec 10, 2012 02:38 AM #1
Rainmaker
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Marcy Moyer
eXp Realty of California Silicon Valley Probate, Trust, and Investment Sales - Mountain View, CA
Probate, Trust, and Investment Specialist

Thanks Ki!

Dec 10, 2012 02:41 AM #2
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Marcy Moyer

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