What Needs To Be Disclosed?
Once you have decided to sell your home, the seller’s disclosures are extremely important. Over the years, different real estate brokers have told their clients many opposing views about what is require to disclosed. For example some say that it’s not necessary to disclose that there was a death on the property. Others say you should disclose every single thing that’s ever happened in the house. Actually, the law governs what should and should not be disclosed, not your real estate broker. While disclosures vary from state to state, there are federal laws that need to be followed, the most notable is regarding lead-based paint. The best procedure, especially if you’ve had a suggestion that seems too extreme one way or another, is to consult a real estate attorney who knows your state’s disclosure laws.
Many Disclosure Laws Are Region-specific:
• Tornado disclosures in Kansas, Oklahoma, Texas, Iowa, Nebraska
• California and Nevada have disclosures regarding earthquakes
• Hurricane disclosures in Florida, Louisiana, Alabama, Georgia
• Wildfire disclosures in Wyoming, California, Colorado, Nevada
• Specific mudslide disclosures in California
The good news for Illinoisans - these would not apply to you!
Always Fill Out Necessary Forms Yourself
When your home is listed for sale, you must fill out the proper disclosure forms yourself–not with the help of your Realtor. Some inexperienced agents may believe that it’s their job to do this for you, but the law says, it’s your job alone.
When Filling Out Your Disclosures:
1) Answer all questions honestly, and to the best of your ability
2) Make sure you disclose everything that you legally need to
Contact me today if you have any questions!