What Do You Need to Disclose When Selling Your Home?
an obligation to give to the buyer
Brent discusses what you are obligated to disclose as a home seller to the buyer when selling your home.
More of a reader? Catch the video transcript below!
What do you need to disclose to the buyer when selling your home?
The simple answer? Everything you know about the property - and everything you don’t.
As the seller, you have a legal obligation to disclose any material facts that may affect the desirability or the marketability of the property.
This includes things like:
Death on the property
Repairs that you’ve done
Ongoing governmental issues
Neighborhood noise
Natural and man-made hazards in the area
Earthquake fault lines
Easements
Environmental hazards
Lead-based paint
Fire hardening
Defensible space
Wildfire disaster areas
Whether or not you are a legal U.S. citizen
Flood hazards
HOA costs (if applicable)
Warranties
Maintenance items
Title insurance
If marijuana or methamphetamine was grown/manufactured on the property
Megan’s Law database disclosure
Mold growth
Any inspections you’ve had done
Mello-Roos taxes
PACE liens
Pets and animals on the property
Short-term rental restrictions
Solar panel leases
And more!
All of this information needs to be given to the buyer.
If you don’t properly disclose this information, you could be vulnerable to legal liability.
So, make sure you are doing everything you need to do to protect yourself; or, work with an experienced agent that can take care of it for you. When you work with an agent, not only are you getting an agent who's going to market the property and get you top dollar but there's also a layer of legal protection that's now on the agent to disclose this stuff to the buyer properly.
That’s it for me today, guys! If you are thinking about selling your home and have any questions about disclosures, feel free to reach out to me.
Brent Edwards (aka Brent the Broker) is a residential real estate agent and Realtor in San Diego, CA who helps clients buy and sell homes in San Diego, California and all surrounding areas. Brent is a highly-recommended Realtor in San Diego by family, friends and past clients. Call Brent today at 619-550-8070 if you have any questions about real estate in San Diego or you'd like to buy or sell a home.
