Wednesday, May 8, 2013
Why should a seller provide a seller's disclosure right away?
It's best to provide a disclosure to the buyer immediately. The seller has the responsibility to disclose known defects that could affect the value of the property. This disclosure could prevent a buyer from filing a lawsuit against the seller, in case defects that were not disclosed before the sale are discovered by the buyer after closing. It is therefore in the seller's interest to let the buyer know in advance if there are any problems with the house that should be taken care of. Of course, a seller may not know of certain issues until a home inspection is performed. Some sellers choose to have a home inspection prior to listing the home and fix the issues to help prevent a buyer from retracting their offer if and when the buyer has a home inspection themselves.