Who knows more about your home than you?
This is the reason that disclosure forms are so important to a real
estate transaction. The name of the game when selling your home is
DISCLOSE, DISCLOSE, DISCLOSE
The importance of this can be the difference between a smooth sale and a lawsuit. If a buyer later finds out that you knew of a problem that you didn't disclose, that is a either a sale that will fail and waste your time or it can be after the sale and the buyer takes you to court and will win.
There are also disclosure forms that cover things such as siding and lead based paint. Siding has become a huge deal to buyers since the LP lawsuit a few years ago. Lead base paint isn't that important to most, but it should be. The dangers that come from lead based paint can be very serious and deadly.
On the plus side, you only have to disclose material facts. Plumbing leaks are considered a material fact, that was a drug house next door is not. Material facts are items that effect the actual structure and or the land that the structure is on.
The best advice I can tell you is to fill out the disclosure form with your Realtor® and if you have a question about something - ask! Remember that your agent represents you. Don't discuss anything with any other agent or buyer. If another agent comes over you need to leave the home. The buyers agent represents the buyer and will try to get information from you that can improve the buyers negotiating power. If a question is asked of you advise them to talk to your agent and they can answer any questions on your behalf.
Todd Clark and the Friendly Home Team
Knipe Realty
Todd@IFoundYourNewHome.com
Phone: (503)524-9494
Fax: (503)746-9573
I am a licensed Realtor who specializes in Washington County, Oregon and also work in both Clackamas and Multnomah Counties including the cities of Aloha, Beaverton, Canby, Clackamas, Gladstone, Gresham, Happy Valley, Hillsboro, Milwaukie, Oregon City, Sherwood and Tigard. All information contained in these posts are copyrighted and cannot be used without prior written approval authorization from the author me Todd Clark. If you are looking for an outstanding agent please give me a call I would love to help you with all your real estate needs.
What if there was a way you could search the MLS for FREE just like Realtors
Now you can access the MLS using similar tools as Realtors. You are in control of what you want to search for, and you can search the MLS at your leisure. The information you submit in the form below can also be used to put you on an automated system where you'll be emailed all homes that meet your search criteria. You'll get internet access to a website that includes pictures, prices, and addresses to real estate that's listed in the MLS!
A good rule of thumb is if you have to ask whether you should disclose, then it is best to do so!
Suzanne - I ran in to a situation that a seller was lying to one of my agent friends about a listing she took. I knew they were lying because the old owner of the property was my client and had disclosed everything to the new buyer with bids to have the work done. They covered it up and didn't disclose that there was ever a foundation problem or a flooding problem.
Really kinda of sad, my friend dropped the listing on the spot.