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Disclosures
Home sellers and real estate agents have stringent legal
disclosure requirements. For-sale-by-owner transactions have the
exact same standards. If you are buying or selling a home you must
receive/deliver the following disclosures or you may be violating
State law:
| Seller's
Property Disclosure Statement |
- Seller's must disclose knowledge of the condition of the
property they are selling
- Other issues including zoning, flooding, wood destroying
insects, structural items etc.
- Actual knowledge of radon or hazardous substances onsite
- Material facts or circumstance that might affect a reasonable
buyer's decision whether to purchase the property
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| Lead
Based Paint - Pre 1978 structures only |
Must disclose knowledge of lead-based
paint in home and if the home was built before 1978, seller
must give the buyer an EPA pamphlet titled Protect Your Family
From Lead in Your Home. |
The laws are constantly changing so be sure and speak with a cityservice
Agent prior to selling your home.
Buyer's Inspection Report
Sellers should realize that just about every buyer is going to use
a licensed building inspection firm to analyze the condition of
their home. If you disclose upfront the known conditions and defects
affecting the home, you will have a much smoother transaction and
likely eliminate the chance buyers can use this report to gain further
price reductions near the end of escrow.
When inspections find things that the buyer was not expecting,
it is not surprising that they will demand purchase price credits
or cancel the escrow.
Read Our Home Inspection Frequently
Asked Questions
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