What Is A Seller Disclosure?

Seller Disclosure Document with eyeglasses and keys on the side

Understanding seller disclosures most states require sellers to disclose any known defects and material facts about the property. They’re selling while the extent of these disclosures varies from state to state.

The disclosures are the home owner’s responsibility and not the realtors in many states. It is illegal for a seller to conceal major defects generally speaking. You’re only required to disclose things you have personal knowledge of. Sellers are typically not required to hire an inspector to identify.

Also Read: Valuable Tips on How To Get Your Home Sold For Top Dollars!

Seems that they don’t know about disclosure forms will ask about the roof, furnace, and air conditioning as well. As any known defects to the homes major systems like plumbing and electrical and structural components like the homes foundation.

The seller is not obligated to fix the disclosed problem.

Although, known problems will likely become negotiating points for potential buyers. If you choose to fix a problem after closing it be sure to document what you did to resolve the issue making full disclosure is the best way to avoid potential lawsuits down the road.

Watch the video below:

One of the reasons to call the Agardi Team if you want to buy a home or have one to sell is:

Not only do we sell our clients’ homes for more money and faster than the average area agent, but your home is also more likely to sell. According to 2015 MLS statistics, only 71% of area homes sold during their listing term. Compare that to our 95% of homes listed that sold before the end of the listing term. YOUR HOME SOLD GUARANTEED OR WE’LL BUY IT*

To discuss the sale of your home, call The Agardi Team at 718-755-2882 and start packing!

*Agardi Team and the seller have to agree on the price and the closing date.

Call Us @ 718-755-2882
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