Posts from March 11th, 2021
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11
Advising Sellers About Disclosure Musts
Plenty of attention focuses on buyers and how they navigate the market. But getting to closing day has its own challenges for sellers. One reason why Homesale Realty is so successful is we see the process from both sides.
One big point of confusion for sellers is disclosure.
Sellers have a duty to disclose "material defects" in a home. But this can be more complex than it seems. Rules for what must be disclosed vary from one state to another. Likewise, it's hard to know what any buyer will consider "material" to decisions about a home.
Many sellers feel anxious about disclosing "too much." Or they might not realize certain things they deal with daily – say, a warped door or a leaky faucet – warrant disclosure. Whatever the case, there is no such thing as over-disclosing. Being thorough can prevent a lawsuit.
So, what should you tell your clients to get them into the right mindset? Here are some things to know.
