The truth about some of the misconceptions regarding disclosure.
Today, I want to discuss property disclosure, as it’s a crucial aspect that many people get wrong.
Some sellers believe that if they are doing a for sale by owner, they don’t have to provide a property disclosure, but that’s incorrect. Property disclosure is mandated by state law, and it’s essential to offer it to buyers to protect yourself.
As for federal level lead-based paint disclosures, you must provide a lead-based paint disclosure if your house was built before 1978. It’s a straightforward form where you indicate whether you have knowledge of lead-based paint in your house or not, and whether you possess a report about lead-based paint in your house.
“You must provide a lead-based paint disclosure if your house was built before 1978.”
Keep in mind that the buyer will also need to initial and sign this form. One common misconception is that it is the buyer’s responsibility to initial that they have received a lead-based paint brochure. In reality, it falls on the seller or the seller’s agent to provide the brochure to the buyer. So ensure you’re handling this correctly to stay out of any legal troubles.
If you have any questions about these disclosures, whether you’re using our services to sell your house or selling it independently, feel free to call or email us. We want to ensure you’re protected and doing things correctly. We look forward to connecting with you.
