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Tuesday, May 18, 2010

Hey, Buyer...Would You Buy My House If You Knew What I Know?

I was talking with another real estate agent today about getting sellers prepared to sell their house or condo. Specifically, we were taking about what we in Florida call a “Seller’s Real Property Disclosure.” 

The seller’s disclosure is a series of questions where the seller is asked to provide responses to all sorts of questions like any roof issues, systems (AC, heating, etc), appliances, Home Owner Association rules, water damage, zoning or future use changes, etc.

The seller provides responses to the best of their knowledge and agrees to advise the buyer of any changes within 5 days after it is under contract (pending closing).

I have the seller complete the form at the time of listing as any serious buyer will request the disclosure prior making an offer.

The bottom line is buyers can respond like a cornered animal if they discover something was left out of the disclosure! Don't alienate your buyer or break the trust!

As a seller (even as a FSBO) do not hide anything – period. Disclose! Disclose! Disclose!

Most transactions have a degree of stress regardless of an individual's role. Don't risk a transaction or some legal issue by "forgetting" to disclose!

Considering selling a house or condo in Brevard County, Florida? Call me at 321-693-3850 or drop me an email.

Gary L. Waters, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida serving Florida's Space Coast including the cities and communities of Melbourne, Viera, Rockledge, Suntree, Merritt Island, Cocoa Beach and the surrounding region. 

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