Sellers Disclosure

What is a Seller's Disclosure and Do You Need One?

  When a purchase a sale contract between buyer and seller is agreed upon, a seller must inform the buyer of anything that may interfere with the buyer's decision to purchase the home.

  This statement that provides the buyer a detailed list of anything that could be pre-exising on the home that the sellers is aware of needs to be presented to the buyer before the transaction can continue.  Anything that could be potentially harmful to the buyer or the home itself must be addressed in the seller's disclosure.

  The home disclosure must be done by the seller and owner of the Enterprise real estate. Your agent cannot fill this form out for you as their knowledge of the property is limited. If you as the seller only rented the home and never occupied the home your knowledge may be limited as well in which case the buyer will need to know this as well.

  Though various states require different disclosures, federal law requires a lead paint disclosure if the home was built before 1978. Typically a buyer is given 10 days to complete a lead paint inspection if they so choose.

  Some states a seller is required to disclose the knowledge of a death occurring in the home. Ask your Enterprise AL real estate agent if you need to know this. Many times buyers still go forward in purchasing the home unless the death was a terrible tragedy.  Disclosure of such information is not required, but you may consider releasing the information to the potential buyer. If there is knowledge of how the death occurred, it may be shared.

  Most of the time disclosures are really to inform the buyer of hazards either within the home or outside the home or in the neighborhood. Noise pollution, ground pollution, fire hazards, and natural hazards are among the list of potential external issues that the potential buyer needs to be aware of. There are additional regional matters that may need to be taken into consideration such as flood zones, earthquake damage, insect infestations, mold, and radon. Some areas now require knowledge of a pre-existing "methamphetamine lab." Toxic chemicals may contaminate porous materials like carpet, counters, plaster, and walls. It will be necessary to investigate the specific information required to be disclosed by the state in which the home for sale is located. 

 For seller's disclosures in the Enterprise real estate area contact one of our agents right away. We can give you a seller's disclosure to look over and know what you will need to disclose even before we take a listing. We can also advice of any issues you may not be aware of.

Contact us today for more information on seller's disclosure or any info regarding Enterprise AL real estate.

REAL ESTATE SOURCES: For Santa Fe NM real estate and sellers information contact our Santa Fe resource. Our Sedona AZ real estate affiliate has excellent buyer and seller information and our Winthrop WA real estate connnection helps all Washington buyers and sellers.