laid out on the table.
HOW TO DISCLOSE
Once you’ve figured all that must be disclosed to your prospective homebuyer, you need to figure out the right way to divulge the information. There are specific forms in many states that use prompting questions and fill-ins so that it’s easy to complete and understand the reports of problems with your home. You must sign and date these forms to authenticate your disclosures. The buyer also must sign and date the forms. Even if your state does not mandate a form, to protect yourself in the future, it’s important to get a receipt or legally approved document signed by the buyer, confirming they have agreed with and have knowledge of all relevant disclosures. You’ll have peace of mind knowing you made a sale that both sides feel good about and that nothing will come back to haunt you.
POINTS TO REMEMBER
• When selling, you’re obligated to disclose any problems that could affect property value. • Your willing disclosure can facilitate a sale. • Check your state and local regulations for disclosure requirements and forms. • You should strongly consider getting an inspection, even if not required to do so.
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