What Home Information Are Sellers Legally Required to Disclose?
Don’t get stuck with a sucker. Here’s what information home sellers need to disclose.
Whether you have owned a home for a couple of years or a few decades, you will know it’s quirks, features, and flaws. As a home seller, you should understand and be aware that your experience with your home will be shared and disclosed with potential buyers when you sell it. While you want to get the most money for your home by making it look good and running perfectly, homebuyers will also want and need to know the nuances of the home that aren’t obvious.
Most buyers will have a home inspection before they finalize their purchase. Realtors and the California Association of Realtors encourage all buyers to hire a professional. In addition, the seller must also follow state and federal regulations regarding disclosure of all known material facts about the property and its condition. If material facts are not provided, sellers could face a lawsuit later down the road.
While following federal and state laws, here are a few items that you will need to disclose when selling your home.
Lead Paint – The use of lead-based paint ground to a halt once health concerns came to light after 1978. No matter if you think the lead paint in your house has been removed, it needs to be disclosed if the home was ever painted with this type of material. If you are not aware of a lead-based paint issue in the house, you are not required to investigate.
Paranormal Activity – When you think of ghosts and haunts, you don’t automatically think that you should alert potential homebuyers, but you absolutely should. If you think your house is haunted, or if you’ve had an exorcism done, you should disclose the information to the buyer.
Emotional Defects – In California, Civil Code 1710.2 states that you must disclose if there was a death on the property. The law also states that sellers do not need to disclose a death on the property if the death occurred more than three years prior to the sale of the home.
Pests – Whether it’s snakes, mice, or bats, sellers are required by law to disclose any pest infestation issue.
Neighborhood Disputes – As an example, consider any disputes regarding property lines and fences. Although it may not seem like a big deal to you when your neighbor’s fence is 1 foot inside your property line, it can affect a new homeowner down the road. It’s wise to disclose any discrepancies up front.
When you’re getting the house ready to sell, install the help of a reliable realtor. To get started, contact Jenn Blake Real Estate Group at Pacific Sotheby’s International Realty in San Diego, California at 858-663-6788.