Seller Disclosure Requirements For Tooele UT
When marketing real estate, sellers and representatives have a legal duty to provide all known facts about a property. Many legal battles involve home buyers assuming that a homeowner purposely did not disclose details. The following are seller disclosure requirements for Tooele UT listings.
Danger of Failing to Disclose
Disclosing all facts is crucial. In minor cases, not disclosing information about a property might simply lead to a home buyer spending unexpected money repairing a home. In more dramatic cases, it may lead to personal injury. There was one instance where an HVAC problem led to the death of the new home owners and to the seller receiving jail time for involuntary manslaughter. Sellers often assume that disclosing particular problems effects the ability to sell or the selling price, but neglecting to disclose may lead to more severe repercussions.
There is special disclosure forms that sellers can use. It can also be detailed in Purchase and Sales agreements. Disclosing all problems, even resolved items, is the smartest way to transfer properties. Buyers will always uncover them anyway after inspections, upon residing there, or from neighbors. Additionally, buyers tend to negotiate problems more aggressively after inspections than if disclosed before making an offer. To help facilitate disclosure, keep documentation from purchases or contract work.
Seller Disclosure Requirements For Tooele UT Listings
Being up-front about issues in a residence ensures a smoother sale and protects against issues after settlement. Sellers do not need to give personal information such as the reasons for the sale, but must offer everything about the home itself. This article with seller disclosure requirements for Tooele UT listings was written by Chris Sloan at Group1 Real Estate and is meant as an introduction. For further advice on marketing a property, contact Chris Sloan 435-840-5031
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