Buyers may not be performing all the due diligence required because they are relying on the disclosures provided by the seller and their hired inspectors and thinking that complete disclosure has been made. But what exactly does “full disclosure” imply? Sellers, on the other hand, believe they did their job when they hired inspectors or completed the limited questions on the necessary Transfer Disclosure Form or Seller Supplemental Disclosures. However, it is not that straightforward, and there is no other way to put it.
Sellers need to avoid liability, avoid lawsuits, and prevent you from being in jeopardy by omitting to disclose. I can’t emphasize this enough! Disclose, just spill the beans, say it all, and release yourself from liability. It’s not only about what doesn’t function; it’s about everything that happened in the past that has become an issue, even if you have repaired it. If something happened in the past, as there always is, describe it. Tell buyers what it was, how you fixed it, or if you choose to ignore it. Prepare an amendment to the Transfer Disclosure Statement with your list of extra disclosures, including anything that could alter the property’s value or any history of what happened to the property. If you’re debating whether to write something, just do it. Disclose. Don’t be concerned about it influencing the property value; simply disclose it. Don’t be concerned if you believe it will scare customers, but it truly isn’t a big matter; simply disclose it. When in doubt, reveal it! Remember that if you engage with a competent real estate agent, you are pricing your home, and the price reflects the condition. As a result, the more information you provide, the better.
Always remember, sellers disclose, buyers ask questions, and if you can keep someone experienced on your team who can visit homes or at the very least review disclosures with you, hire or get them to help you!
If you are looking at the option of buying a home or selling a home in the San Francisco or the Peninsula in the near future please reach out to us.
