Fishhawk Lake Real Estate--Sellers Please Disclose!
I was talking to a neighbor yesterday about the home he recently bought. He was represented by a Portland agent and that same agent represented the sellers.
I knew the property well, as I had listed it before the sellers had bought it and had a sale fail due to some inspection issues.
These issues were not disclosed to my new neighbor. He had no idea that there had been dry rot along an outside wall and window seat inside. I told him that the previous buyers had gotten a "roof expert" who told them that the roof was shot and it needed to be completely replaced. That sale didn't happen, but my sellers at the time took it off the market, had the roof done, while repairing the dry rot, only to find out that the roof really didn't need to be replaced! (So much for that roofing expert). The sellers that he bought the home from were very well aware as they purchased the home after the work was done and it was disclosed to them by my sellers.
All of this was unknown to him.He had lived in California at one time and said that you have to disclose everything from a person dying in the home to noise level in the area. I explained to him that these items SHOULD have been disclosed by the sellers whom his agent represented.
Sellers need to disclose everything that they are aware of with their property and it clearly states that if you need to write more about a leak, or dryrot, or foundation issues and the like, that you attach another sheet explaining this. It is paramount that the seller's REALTOR® explain clearly and definitively that ALL knowledge of the property be disclosed according to their state laws.
Whenever I represent a property that has been flooded, I speak with the owners/sellers and have them write in their own words what happened, how it was fixed, when and by whom. If they have photos, video then let me have access to that as well. FULL DISCLOSURE is the right thing to do.
It further proves that if you work with a REALTOR® in the area and not outside of it, you will have access to history of the homes, the surrounding community and be very well represented.