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How Much Do You Need to Disclose About Your Property?
Manage episode 155209336 series 1150003
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Today I want to talk about property disclosures because they've been in the news a lot recently. So, what should you disclose about a property?
My best advice would be that if you're questioning whether you should disclose something, you should just go ahead and tell the potential buyer. No matter how big or how normal, you should disclose the history of the property to the best of your ability.
There are some homeowners that recently failed to disclose a sinkhole on their property, and they have been sentenced with criminal charges for not disclosing this fact about their home.
This is very important if you're selling your home on your own. A lot of FSBO sellers don't know this, but they need to spill the beans when a buyer asks about their property. Although it's an extreme case, you don't want to end up in jail just because you withheld some information about your property.
Buyers in Tampa should be careful to get a disclosure on a home that they're purchasing, because as a buyer you're fully entitled to one. However, if you buy a foreclosure, you must buy it 'as is'.
If you have any questions about this issue, or if you need real estate assistance in Tampa, please don't hesitate to contact us! We look forward to hearing from you!
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