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What are the seller’s disclosures when selling a home?

| Nov 27, 2020 | Residential Real Estate |

You probably know that the best time to sell a home is when the inventory in your area is low and the demand is high. For many who live in Florida, this is a common description of the market. 

Most homeowners know that working with a reputable real estate agent is critical. The agent should ensure that you’re doing your part to help the selling process go through without any issues.

What do homeowners need to let buyers know?

One thing that some sellers aren’t prepared to do is to fill out the disclosures form. This is a legal document that outlines things that you know are wrong with the home. The reason for the disclosures is that potential buyers have a right to know what they’re getting into with the purchase of the home. 

Sometimes sellers are tempted to just leave things out of the disclosure form. This isn’t a good idea because it could set you up for legal issues if the buyers learn that you hid things that should have been included in the disclosures. 

Remember, if the home has had issues and you’ve corrected them, you can include the corrective actions in the disclosures so that the buyers know this information and can use it to make an informed decision about the home. 

How else can homeowners protect themselves?

Before you put your home on the market or accept an offer, you need to ensure that you have everything from the legal side of things covered. Your attorney can help you to review contracts and other documents so you know that you’re protecting yourself as you handle the sale of what’s likely one of your biggest assets.