Disclosures

Real Estate

Disclosures

 If you’re in the process of selling a home, be mindful of laws covering the issue of disclosure. While they vary from state to state, there are federal laws as well, the most notable of which is regarding lead-based paint. The best thing to do if you’re unsure what to disclose is to consult a real estate attorney who knows your state’s disclosure laws.

The general rule of thumb is that anything that lowers the perceived value of the property or anything that would affect the buyer's decision to purchase or the price and terms the buyer offers should be disclosed. Some tips: Answer all questions to the best of your ability. Don’t sweat the small stuff, but make sure you disclose everything that you’d want disclosed to you if you were the buyer.

Here are some examples-

Leaky faucet kitchen sink

Neighbors dog barks during the day

Freeway noise during commute times

Airport noise

Fire in laundry room

Someone died in the home within the past 3 years

Disclosing issues are very important and if you had the problem fixed, you can include that too.  Failure to disclose can be far more problematic and costly

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