What a Seller’s Disclosure Means for You

 In Real Estate Articles

If you’re in the process of selling your home, your Realtor® may have already mentioned a Seller’s Disclosure form to you, but if you aren’t familiar with the term, you might be confused about what is expected of you as the seller. There are a few important things to know about Seller’s Disclosures and what they mean when you’re trying to sell your home.

To keep it simple, a Seller’s Disclosure is a document that legally requires the home seller to disclose information that he or she knows about the condition of the home. A buyer can only see so much while they’re touring your home, and if you have information that they don’t about the home, you need to disclose it so that the condition of the home is on the table.

Depending on your state, a Seller’s Disclosure might ask for different things. For example, a disclosure might ask you as the seller if you’re aware of any lead paint or mold in the home.

This does not mean that you’re required to have tests run on the home to provide a definitive answer. The Seller’s Disclosure is asking you for information that you’re personally aware of. If you know that your home has lead paint in it, you need to disclose that information. If you are truly not aware of any lead paint being used in your home, you’re allowed to check the “I don’t know” box on your form.

In most situations, a home inspection is required before the home is sold, so this is going to give you some insight about your home that you may not have been aware of. These inspections are a good way to definitively answer questions on your disclosure forms.

Remember, if you have repaired issues that were found in your home, make sure that you include copies of work orders and receipts for the repairs. If you’re aware of issues with your home that you have answered on your disclosure, but have not had repaired, it is very likely that the buyer is going to offer you a lower price than what you’re asking for.

It’s a good idea to be as honest and forthcoming as you can when it comes to your Seller’s Disclosure, so that you are not held responsible for any issues that the buyer might experience with the home. The disclosure is designed to protect you, so try looking at it in a positive light.

Let my team at Keystone Realtors® meet all your real estate needs. I have over 16 years of experience in buying and selling in the Santa Clara and San Mateo County areas, specializing in the high-end, luxury market. Visit our website at https://www.paulphangureh.com/for listings and information. You can contact me at 650-924-2544, or email at [email protected]