When you're selling property "AS-IS" in California you still need to disclose!
| California Civil Code requires disclosure of material facts and they have quite a few pages that go into more detail than you will see here. Essentially you need to remember disclosures are intended to keep fraud, deceit and misrepresentation out of real estate. In other-words, we need to be fair and honest in our dealings. |
|
 |
But why, when you're selling as-is, DO you have to disclose? The buyer has the responsibility of investigating the property so they should figure it out, right? After all, it's not like you're trying to hide anything! So what kind of disclosures are we talking about?
What's in a house and does it work? Don't worry, you're not offering a warranty, but you do need to let potential buyers know if you have a pool, an oven, heating, window screens and a myriad of other items. Also let the buyer know whether or not they work; this is to the best of your knowledge.
Disclose BIG issues, like impending failure, implosion or other significant malfunctions that you know about. This pertains primarily to the foundation, structure, electrical and mechanical components of a property but it doesn't stop there. If you are aware of anything in this category, you'll want to explain in further detail.
Don't change that dial, we have more to disclose to the buyer! As a seller, you need to tell the buyer if you know about leaky hazardous fluids on or near the property. Be sure not to overlook your noisy neighbor, the yapping area dogs or the nearby airport. That also goes for repairs or upgrades you've made on the property. Oh, and if you have restrictions, nasty-grams from code enforcement or pending legal action on the property, this would be an appropriate place to disclose it.
There's a common theme, a motto if you will, that will help protect you against legal action down the road. If in doubt, disclose.
In closing, the answer our title, "I'm Selling As-Is; Do I HAVE To Disclose The Underground Tunnels?" is yes.
As always, let's foresee the possibilities . . . and get results!
Suggested BTW 
Comments (17)Subscribe to CommentsComment