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The reason for the law governing the "Seller's Disclosure" is that if the seller intentionally lies about mold or anything else on the disclosure, the buyer then has the ability to take legal action against him. I find that MOST sellers try to be honest.
I go over the seller's disclosure with all my buyers and we discuss all parts of it and if the buyer's home inspection doesn't uncover anything...the buyer has the ability to hire other inspectors, etc. I think its more "due diligence" than anything. When I'm working as a buyer's agent, I work very hard for my buyers but...I'm not perfect (shhhh...don't tell anyone I said that) and the buyers and the sellers are not perfect, so mistakes can happen.
Homes built before 1978 must have a "lead paint" disclosure. It gives the buyer the ability to have the home tested for lead paint. Never heard of the "$500 I don't know if there is lead paint" fee. Again, if the home was built before 1978 and the buyer wants to hire someone to check it for lead paint, he can do so. I wouldn't know lead paint if it bit me!
For those of you that don't TRUST your Realtor and don't think she is doing a great job for you...FIRE HER! Duh. Why work with someone who isn't working in YOUR best interests?
And for those of you that seem to be PARANOID...I'd check all jail records and death certificates too! And if a pool has been added...I'd check MISSING PERSON records, as well!!!
The reason for the law governing the "Seller's Disclosure" is that if the seller intentionally lies about mold or anything else on the disclosure, the buyer then has the ability to take legal action against him.
Vicki
Not sure why someone would spend lots of $ in legal fees just to get back their $500 inspection fee
I find all those requirements for disclosure to be quite useless. It's way too easy for the seller to say "I don't know about any problems" before the sale and "Oh I had no idea!" if something is found during the inspection.
I'm not sure why you think the disclosure is "useless"? However, it will be interesting to see how you fill out the seller's disclosure when it comes your time to sell!!! Vicki
I'm not sure why you think the disclosure is "useless"? However, it will be interesting to see how you fill out the seller's disclosure when it comes your time to sell!!! Vicki
I was told by my realtor that problems only had to be disclosed if they weren't fixed. For example, the rotting water damage mildew infested home we were going to buy that had to be jacked up so the framing members could be ripped out and replaced, they didn't disclose it to the next sellers. Their realtor said as long as it was repaired they had no obligation to disclose it. Plus the sellers lied on the original disclosure and claimed to have no knowledge of the problem even though everything was covered in a fresh coat of paint.
I think property disclosures are useless, too. It's very hard to prove the seller knew there was a problem all along.
I'm not sure why you think the disclosure is "useless"? However, it will be interesting to see how you fill out the seller's disclosure when it comes your time to sell!!! Vicki
Useless because you can't guarantee the seller will disclose everything, and there is no way to prove that they didn't disclose intentionally, especially if there is no history on repairs done by third-parties.
Useless because you can't guarantee the seller will disclose everything, and there is no way to prove that they didn't disclose intentionally, especially if there is no history on repairs done by third-parties.
"guarantees"? Are there any guarantees in life???
By having the seller's disclosure and doing your home inspection and just opening your eyes...sure beats no disclosure and no home inspection and closing your eyes!!! Come on folks...if you want a guarantee...get a HOME WARRANTY!!! Vicki
"guarantees"? Are there any guarantees in life???
By having the seller's disclosure and doing your home inspection and just opening your eyes...sure beats no disclosure and no home inspection and closing your eyes!!! Come on folks...if you want a guarantee...get a HOME WARRANTY!!! Vicki
Home warrantees, while a good idea, are limited in what they will cover and that coverage does *not* include toxic mold. In addition, that coverage excludes a number of other things so I wouldn't go so far as to say they are a "guarantee."
Cassie
Last edited by Cassie; 08-25-2006 at 07:48 AM..
Reason: typo
Home warrantees, while a good idea, are limited in what they will cover and that coverage does *not* include toxic mold. In addition, that coverages excludes a number of other things so I wouldn't go so far as to say they are a "guarantee."
Cassie
Agree! After I read the warranty in my new home I was really surprised to see the number of items that are not covered.
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