Do looming mysteries haunt your home sale? With proper investigation, you can unmask those sneaky hazards — which might not look so monstrous after all.
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t some point, whether you’re buying or selling a home, you’ll be confronted by an intimidating stack of statements, chock full of reported dangers to the property, its value, its residents, or (horrors!) even the chances of a stressfree sale. It’s perfectly reasonable to want to run away screaming — but these disclosure reports are actually your allies, helping shine a bright light on potential hazards. With a more complete understanding of the condition, value, and desirability of the property, you can protect yourself and sleep soundly. Luckily, it doesn’t take much sleuthing to get your fears under control. There’s a system in place to help buyers and sellers uncover the facts of the case (a mystery machine, if you will), and we’re your intrepid friends on this journey of discovery. So sit back, grab a Scooby snack, and let’s get on the case!
Sellers Don’t Booby-Trap Your Property When selling property, it’s in your best interest to
complete all required disclosures early and thoroughly. Conscientious disclosure doesn’t just do right by the buyer (and the law), but helps protect the sale from surprises, and may even save your own skin from a very scary lawsuit. In California, once a property enters escrow, the seller is responsible for providing the buyer with certain set of information, which your REALTOR® will help you get in order. For our purposes today, we’re focusing on the big two — the transfer disclosure statement (TDS) and the natural hazard disclosure (NHD) — important because they can give a potential buyer the right to walk away with their deposit. Share Your Clues The TDS is your opportunity to lay everything on the table that you know materially affects the property value — in other words, major things, and not simple wear-and-tear or opinions about your S.O.’s ghastly wallpaper choice. Again, your listing agent can help you make sure this is completed properly and in a timely fashion.