Just a ?
When making an offer, when did you see the seller's disclosures?
Both times we made offers, we didn't see them until pretty much our offer paperwork was done and signed and then our agent rushes them over to us via email for us to sign and return.
I thought you were supposed to see that before making an offer? There might be something on that disclosure that could turn you off of the house, right?
I live in CA, I've never seen them before making an offer, nor prepared them before accepting an offer. I've given and received them during escrow.
I get them for my buyers to review before making an offer. In SC the signed disclosure (by both parties) is part of the process.This message has been edited. Last edited by: Charming,
Fun and Info
Yes, many things that are "required by law" seem to get short shrift/little attention except to have them checked off by the box - done.
I would suggest including Seller's Disclosure along with Review of Inspection Reports in any offer you make ~ should solve the problem. Smart to be thinking of all of these factors...
Sellers' "Property" Disclosure is not required by law in our state. Check your state. However,Brokerages here
include/require them in the "Listing Forms Package" and requires the property disclosure as part of the listing to be complete.
This is a form where the seller will answer questions about the subject property. It is understood that this form is to be filled out to the best of the sellers' knowledge.It is very helpful to the listing associate, providing information of amenities, updates, and faults/remedy such as "soil stablization".
Even if a home is being sold as is, the seller should fill out the form, however if the seller
has never lived in the home, the form usually
is crossed out with verbage.. "selling as is, seller never lived in home and has no knowledge of property....an estate inherited would be an example.
Property disclosures are many times linked on the listing in MLS, and EZ to review by the selling (buyers) Realtor and print off for the buyer-before writing the offer. If not in MLS, I call the listing Realtor and ask for one. I don't think any Realtor in their right mind wants to take a Buyer to a home with major problems,negotiate the contract, go through the expense of home inspections expense...unless the buyer is shopping for a fixer upper. Fastest way
to lose a buyer...period.
Regardless, obtaining a Sellers Property Disclosure before offer stage is the "safest" way to go. After all, the buyer may not want to make an offer on the property after reading it.
Yes the buyer is expected to sign it at offer/contract stage, however if it is presented to you ~~after the contract is signed by both parties~~..and there are major concerns...feathers could fly.
Check your state about "Sellers Property Disclosure."This message has been edited. Last edited by: real estate lady,
Thank you all for the replies. I am not sure, I will have to check out the laws in the state. But both times, we were told that it was part of our offer by signing those disclosures.
I just don't like how he had us sign all the other paperwork, then sends that over to the listing agent and then in 11th hour hurries up and sends us the disclosures and rushes us to sign them and return them so he can forward those over to the listing agent and the "offer can be made".
In our state while the Property Disclosure form is not required by law - disclosure of defects, even if an as is contract, are.
You have the right to question a property disclosure form even at the 11th hour, ask for more information from the seller through their agent, via your agent, before evn signing the offer.
My best advise to buyers...
make sure your contract includes phrasing to the effect.."This sale is contingent upon buyers' approval of home inspection"....
In Michigan the sellers disclosure are a part of the listing package. Most agents make them readily available for showings and open houses. Our contract states that buyer has seen disclosure prior to signing purchase agreement. Same is true for the lead based paint disclosure form.
While the form is not required in our state, disclosure of latent defects areas are as well as other issues i.e. soil movement, etc.
Trying to get sellers banks, auction companies,
traditional sellers to fill out the Property Disclosure form who are selling as is in our state... is another story.
I go on every website I can to find history of a property before I draw up an offer including previous MLS listings of that property including the link to a former Sellers' Property Disclosure, county sites, county permits, etc.This message has been edited. Last edited by: real estate lady,
In Mi some are careless with the timing of the SD but the law dictates the format and ours has a date and time spot. In Mi if the SD is not presented timely the buyer can walk until specific steps are taken.
I ask for a copy of the seller's disclosure when I go to see a house. If I don't have it, so I can look at whatever issues they listed, I don't see the house.
If you are looking for professional opinions on this you could also use RESAAS, a platform where only official realtors answer questions. Maybe give that a go here: http://rebla.st/qbxxhkt
Hope it helps!
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