Selling your home is an exciting process. Odds are that when you find an interested buyer, you’ll want to get the home off of your hands as soon as you can.
When you look into selling property, though, you’ll see that there are a lot of hoops you have to jump through before the process is complete. So, even though you want to be done with the selling process, you have to buckle down and check some boxes.
One of those boxes is called a seller’s property disclosure. We’re going to take a look at what a seller’s property disclosure is today, giving you some insight into how it works and what you have to disclose.
Let’s get started.
What Is a Seller’s Property Disclosure?
The seller’s property disclosure is simply a document that lets the new buyers know about any issues that might affect them directly.
The thing is, this list can get pretty long when it comes to a home. In most cases, there is a form that makes it easy to address all potential issues. This form will have you work through a series of questions that pertain to the structural quality of the home, air quality, noise disturbances, or anything else that might be relevant.
You also have to disclose information about any potentially hazardous or toxic substances that might exist on the property. This is especially true if those hazards aren’t apparent when an individual would inspect the property.
Odds are that they will have an inspection done, but you’re still required to disclose any information that you have about these things in case they’ve been missed during the inspection.
Further, you have to let the buyers know if a death has occurred on the property. The length of time needed to pass before you can forgo that information depends on the state you’re living in.
For example, you have to alert the buyer about any death in the previous three years in the state of California. It might be longer or shorter depending on your area.
Tips on Selling
You might have a home that comes with some skeletons and baggage. If there are potentially dangerous materials on the property or the value of the home is set to sink, you still have hope of selling.
You might be wondering “how can I sell my house quickly if there are so many problems.” Fortunately, there are a lot of companies that buy homes, regardless of the quality they’re in.
There are also a lot of individuals who invest in homes with these problems to try and fix them up and resell.
So, just because you have some issues in the home that you have to disclose doesn’t mean you’re out of luck.
Want to Learn More about Real Estate?
Hopefully, you have a better idea of the seller’s property disclosure after reading this article. There’s a lot more to learn about selling your home if you’re planning to do so, though.
We’re here to help you work through the process and get the most value for your home. Explore our site for more ideas on real estate, tax on selling property, and much more.