What is a sellers disclosure form and why do I need to fill one out?
When you list your St George home or Hurricane real estate you will sit down with a listing agent and go over all the marketing strategies, pricing options and information on the listing. You will need to fill out a sellers dislosure form. This form tells the perspective buyers about the home from your knowledge.
Each state requires different disclosures so check with the Southern Utah real estate agent for what exactly is needed. The main issues are safety issues and are pretty standard such as lead base paint, major leaks or serious problems.
The biggest issue tends to be lead base paint disclosure. There maybe extra forms just for this issue. If the home was built prior to 1978 there may be lead base paint in the home. Many paints manufactured before this time naturally had lead in them. If the home was built after this, there is usually no concern for it. Many homeowners have not owned the home longer than this and even if it was built before 1978 they have no knowledge of the home having lead based paint.
Most homeowners check the box that says they have no knowledge unless they painted the home prior to 1978. As a buyer it's important to know if the home built before 1978 it may have some lead based paint if painted over several times. Unless the buyer wants to sand down to the bare sheet rock there usually is no way of knowing. It is simply something to be aware of.
Issues that may come up on a sellers disclosure form are roof leaks, or major damage to the home. If the seller has no personally experience, these issues are check no or don't know. The seller must disclose information such as type of roof, type of septic or sewer system, type of siding, etc. Some disclosure forms mention items such as paranormal activity or death in the home. These are unusual and may not be on the form.
If a seller knowingly conceals something and after the inspection or purchase, the problem is found, the seller can be liable. Otherwise, there is the phrase "buyer beware" that is most commonly accepted with buyers and sellers. The most critical thing a buyer can do is have a professional, neutral inspection from someone not working for either party. If they have no interest in the home, there is more reason not to be honest about anything occuring.
For more tips or to see a sample of a sellers disclosure form for the Southern Utah region, please contact us anytime. We would be happy to explain and go over every detail of a purchase and sale contract.