In today’s fast-paced and highly competitive real estate market, both home buyers and sellers face unique challenges and risks. With properties selling quickly and multiple offers becoming the norm, home buyers are often waiving their right to inspect, relying solely on the disclosures provided by the seller and their hired inspectors. But what does full disclosure really mean?
Full Disclosure Helps Avoid Legal Issues
As a San Francisco Bay Area real estate agent with over 20 years of experience, I’ve seen it all. And the answer is simple: the biggest mistake sellers can make is failing to disclose in real estate investing. Many sellers believe that by hiring inspectors and filling out the required transfer disclosure form, they’ve done their due diligence and disclosed everything they need to. But that’s simply not enough.
To avoid liability and legal trouble, it’s crucial for sellers to disclose multiple offers on a house – even if they think it’s not a big deal. Any history or issues related to the property must be disclosed, including anything that could affect the value of the property. If you’re questioning whether or not to write something, just do it. When in doubt, disclose it.
By disclosing everything, sellers not only protect themselves from legal trouble but also build trust and transparency with potential home buyers. It shows that they have nothing to hide and are willing to be upfront about any potential issues. This can actually work to the seller’s advantage, as home buyers will be more likely to make an offer on a property that has been fully disclosed.
Who You Work With Matters
Working with an experienced real estate agent can also help sellers navigate the disclosure process and ensure that they are disclosing everything necessary. Pricing the home based on its true condition, including any disclosed issues, will also help to attract serious buyers who are willing to make a fair offer.
So, in today’s competitive real estate market, full disclosure is key. Don’t be at risk of legal trouble – disclose, disclose, disclose! If you’re a seller looking to avoid legal issues and build trust with potential buyers, reach out for a consultation.
If you are looking at the option of selling a home in the San Francisco or Peninsula in the near future, please reach out to us.
