If your agent can’t tell you, ask a lawyer if you need to sign every disclosure handed you.Federal Disclosures Every state has its own laws regarding disclosures, so the forms will vary depending on where you live.A federal disclosure such as Lead-Based Paint is required for all transactions if the home was built before 1978.
It’s considered good practice, however, to give every buyer, regardless of where she lives and regardless of the type of property she is under contract to purchase, the disclosure regarding lead-based paint.
Besides, even though it’s prohibited, there are still places where lead paint is sold.Material Facts Material Facts are commonly referred to as anything that would affect the buyer’s decision to purchase or the price and terms the buyer offers.
In California, sellers are to notify buyers if a death has occurred on the property within the last 3 years.
Some buyers are creeped out by knowledge that a seller died in the house.A seller once asked me if she should tell the buyer that her husband died in their bedroom five years ago.
Moreover, if she had chosen to withhold this information from the buyer, I would have had to disclose it because now I had knowledge of a material fact.Causes of Death Many home buyers are fine with news of a death occurring in the house as long as it wasn’t violent or gruesome.
