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The Truth About Your Home


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 aproblem 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.

Disclose - Photo courtesy of www.freedigitalphotos.net

Thereare 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 fewyears 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 anddeadly.

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.

Respect Realty LLC (Expect More)

 

At Respect Realty, LLC our agents believe in 100% dedication to client satisfaction.  We specialize in property and land acquisition around the Portland Metro and Vancouver, WA area. We delight in working with first time home buyers and sellers to guide them from start to finish. Our doors are always open and we are always happy to assist you with your real estate questions.

 

Reach out today, we look forward to talking with you!

 

Todd Clark and Seraina Aguayo (Owners of Respect Realty)

Respect Realty LLC (Expect More)

(503)564-3130

info@RespectRealtyNW.com

www.RespectRealtyNW.com

 

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Comment balloon 2 commentsRespect Realty LLC • January 16 2007 07:46AM

Comments

A good rule of thumb is if you have to ask whether you should disclose, then it is best to do so!

Posted by Suzanne Marriott, Associate Broker, CLHMS, e-PRO (Keller Williams Arizona Realty) over 11 years ago

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.

Posted by Respect Realty LLC, Brokers - Oregon / SW Washington Real Estate (Respect Realty LLC) over 10 years ago

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