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Wednesday, April 26, 2017

Selling Your Florida Home: How Much Does a Seller Have to Disclose?

Selling your home is not always a smooth process.

The process of selling your occupied home can be a hassle.  Your life is being constantly distrupted.  I know that showing appointment yesterday afternoon at 5:30 placed your routine family life n a tailspin.

But it is to be expected.

Still, last night's showing could have been avoided if your agent had just done some basic things to help you out.

What are these things?

Your agent could have told me (as in the agent comments) that there was a Federal Pacific Electric (FPE) panel in the garage that would prevent my buyer getting insurance or possibly a mortgage.

Your agent should have posted more pictures - even those ugly bathrooms in need of updates.  (Or, at least used the word "retro" in the narrative!)

Your roof is at the end of its life - share that up front.  Again, ability to get a mortgage is impacted. Many buyers do not have the available funds after a purchase to turn around and replace the roof.

The responsibility of your listing agent includes the dissemination of use-able/useful information.

I recently read an MLS entry where an agent note said "all information is subject to errors and omissions and must be verified by the buyer's agent."  This makes me wonder what the seller is hiding because it sure as heck sounds like a "I warned you" defense for potential issues!

But is it the seller who is hiding things?  

There are legal requirements about disclosing issues that are known but not readily apparent.  I always suggest sellers disclose all those things they would like to know if they were in the buyer's position. Realtors have a duty to the process.

Sellers can not control all their agent says or does but, at a minimum, I suggest these actions:
  • Disclose what you know.
  • Have your agent provide a copy of their marketing material/MLS entry.
As for the disruption, it will be over sooner if -
  • your home is priced appropriately, 
  • your home is prepared adequately, 
  • issues disclosed up front,
  • and showing requests accommodated, if possible - even the 5:30 showings at supper time
The more information provided then the more efficient the process.
Ready to sell your Viera, Florida home?  Call or text me at 321-693-3850 if I can help!

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