WHAT YOUR STATE EXPECTS
Many states have strict disclosure regulations. Check with your state department of real estate. They can get you all the forms and checklists you need to make sure you comply with your state’s requirements. It’s also important to contact your city planning department to make sure your property is up to date with all local ordinances. Overlooking issues, such as misplaced land borders or an unregulated build, could scare off prospective buyers, which is the last thing you want on the eve of a sale.
ON SECOND THOUGHT, GET AN INSPECTION.
Considering all of the local disclosures that may fall through the cracks, you might want to consider hiring a property inspector, even if your state doesn’t require it. While the results of an inspection might cause unplanned investments in renovations, you could avoid a potentially costlier lawsuit if undisclosed issues are discovered after the sale. Getting an inspection in advance also will give you the upper hand when negotiating with the prospective buyer. There will be no last-minute surprises or unfounded demands that set the sale off course.
DISCLOSURES FOR ALL
Some disclosures are required in all 50 states. The use of lead- based paints or other hazardous materials can be harmful to home inhabitants, especially young children. If any of these materials have been used in your home, the buyer needs to know.
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