Buyers Are Entitled to Home Disclosures

Most states require that sellers give buyers home disclosures before the buyer fully commits to buying the home.

California laws, in particular, protect buyers. For example, sellers are required to inform buyers of all repairs made to a home, disclose the last time it was painted and whether pets have occupied the premises. It's not that buyers will back out of a transaction upon learning about a home's negatives, mind you, but it's that buyers will sue if those defects are not disclosed. Nobody wants to feel duped or lied to about a home's condition.

I help my sellers fill out their required disclosures, but I never tell them what to write nor do I write it for them. I question sellers thoroughly before I take a listing about negative features and strongly encourage them to disclose those features. Even little things make a difference to a buyer such as a next-door neighbor's dog that barks or noise from early morning trash collection trucks.

California Transfer Disclosure Statements ask questions that even some sellers and agents do not understand. When I represent a buyer, for instance, I check the TDS to see if the seller has checked the box "yes" that discloses fences are shared between neighbors. If the seller has a fence and that box is not checked, it's apparent to me that the seller's agent has dropped the ball . . . read more about Home Disclosures.

More Articles by Elizabeth Weintraub, click below:

• Sewer Inspections for Older Homes
  
• Releasing Buyer Contingencies
  
• Safety Tips for Women Home Buyers

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