How Sellers Should Approach Property Disclosures

When selling a property, it is essential to provide full and accurate disclosures about the property's condition and any known issues.

Disclosures are legal documents that outline relevant information about the property, ensuring transparency between the seller and the buyer.

Here's an explanation of disclosures and examples of items that might be included:

1. Disclose any known defects or issues with the property:

Current or old leaks, structural damage, or problems with the electrical, plumbing, or HVAC systems should be noted in the property disclosure.  It's important to provide details about any repairs or renovations that have been done, including dates and permits obtained.

2. Environmental Hazards:

Inform potential buyers about any environmental hazards that may affect the property, such as lead-based paint, asbestos, mold, or radon. Compliance with local laws regarding disclosure of hazardous materials is crucial.

3. Pest or Termite Issues:

If you are aware of any past or current infestations or damage caused by pests or termites, disclose this information. It is also important to provide details about any treatments or repairs that have been undertaken.

4. Previous Incidents or Insurance Claims:

Disclose any significant events that have occurred on the property, such as fires, floods, or insurance claims. Even if the issue has been resolved or repaired, it is important to provide a full account of the incident and subsequent actions taken.

5. Neighborhood or Community Issues:

Disclose any known neighborhood or community issues that might affect the property, such as noise disturbances, pending construction projects, or disputes with neighbors.

Remember, disclosing too much information is better than providing too little. Buyers appreciate transparency, and full disclosure can help build trust and prevent potential legal issues in the future. By being forthcoming about the property's history, you are demonstrating your commitment to integrity and ethical business practices.

It is important to note that while disclosures provide valuable information, they are not a substitute for a thorough home inspection. Buyers should always conduct their due diligence by hiring qualified home inspectors to evaluate the property's condition and identify any potential issues that may not be apparent from disclosures alone. This comprehensive approach ensures that buyers have as much information as possible to make informed decisions about the property they intend to purchase.

🏢 Daryl Judy – Associate Broker, Washington Fine Properties
☎️ (202) 380-7219 • 📨 [email protected]
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