When marketing Waltham MA listings, home owners and their representatives have a legal requirement to provide everything they know about a residence. The majority of lawsuits involve buyers believing that a homeowner deliberately did not disclose information. Below are details on required seller disclosure for Waltham MA properties.
Danger of Failing to Disclose
Disclosure is critical. In minor cases, not divulging facts about a Waltham MA property may simply lead to a buyer spending more money repairing a home. In more severe cases, it may cause bodily injury of the new homeowners. There was one case where a heating system problem led to the death of the new home owners and to the seller getting jail time for involuntary manslaughter. Sellers may assume that disclosing certain facts effects the ability to sell or the selling price, but failure to provide facts can have much more severe consequences with lawsuits and possible jail time.
Methods of Disclosure
Sellers can use designated forms for reporting facts on a property. It can also be included in Purchase and Sales agreements. Telling all issues, even if they have been fixed, is the safest way to sell Waltham MA real estate. Buyers will always uncover the problems anyway during inspection, after they live there, or when speaking to neighbors. Additionally, buyers usually negotiate problems more aggressively during inspection than if disclosed prior to offer submission. To help facilitate disclosure, keep documentation from purchases or contract work.
Details On Required Seller Disclosure For Waltham MA Properties
Being honest about the condition of a home ensures a smoother sale and protects against liability after closing. Sellers need not give personal information such as the motivation to sell, but must offer everything about the residence itself. This article with details on required seller disclosure for Waltham MA properties was written by Jonathan de Araujo at William Raveis Real Estate and is meant as an introduction. For additional advice on marketing a home in Waltham MA and nearby areas, contact Jonathan at 339-200-9444 or firstname.lastname@example.org.