Mission De Los Arroyos Report Archive - January 2005

HOME SELLER TIP:  Disclosures

Sellers often fear that if they disclose defects to buyers it will impede the sale of the property. This rarely happens. In fact, buyers appreciate knowing about property defects before they buy. Problems can develop when buyers discover defects after closing that they know the sellers were aware of, but failed to disclose.

In these litigious times, there are numerous cases of homeowners not taking their disclosure obligations seriously and ending up in the unpleasant situation of having to defend themselves in court.  Court costs and civil penalties make the risk extremely high.

Yes, this is a great market to sell you home, but it's also an area in which what you don't know can hurt you.   Check with your real estate professional or real estate attorney if you have any questions about your disclosure obligations.