Seller's Disclosure. . .disclose, disclose, disclose

By
Real Estate Agent with McCarty Homes 246247

Did you know that in Georgia sellers are not required to complete a sellers property disclosure statement but they are required to disclose all known defects to the property that they own and intend to sell.     It's not uncommon for investors or homeowners who once occupied a home and then moved out and rent the property to feel uncomfortable about completing a disclosure.   Owners should always disclose the facts - no guessing. 

Another common misconception that apparently exists among consumers is that if a defect was repaired it does not need to be disclosed.   This is not true.  

On the Georgia Sellers Property Disclosure for example, there is a question "is there now or has there been" any water intrusion. . ."   It's the "has there been" part that some sellers gloss over.   That's a very important mistake.  If you have a leak and fix it, that's wonderful, but the buyer needs to know that.  They will want to tell their home inspector to look at that area in particular to help them feel assured that it is no longer an issue.   They will LOVE that you repaired it, so please fully disclose all repairs.

For example, if there is a roof leak, after a new roof is installed, typically the shingles carry a warranty and also the roofing contractor has a warranty on their labor that will cause them to return to repair that leak for you FREE of charge for some agreed period of time.   The last one that I had done gave  me a 10 year labor warranty and I actually used it on 3 occasions where little leaks started.  The roofer returned, made the repaired, no charge.   

As a seller, it is in your best interest to provide any potential buyer with as much information as possible about defects that have occurred, repairs that have been made and vendors that you used because some of them will provide a warranty that is often transferable to the new owner.  

Sellers who properly disclose rest easier after the sale.   You should not be trying to decide what you "should disclose".  Disclose everything you know because that is the expectation by the buyer, the agents and the courts!  

 

Posted by

Stephanie McCarty              

Berkshire Hathaway HomeServices Georgia Properties

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