Disclosures: Creating the Legal Statement
It's time for you to come clean with all your secrets and tell all -
well at least about your property. To protect buyers, some states
require by law that you inform buyers of known things that may not
be immediately evident as to the condition of the property.
Whatever the case may be in your state, you will be far better off
if you create a disclosure statement by completely and accurately
detailing anything pertaining to your property.
Do you have a leaky roof? Don't try to hide it, and don't paint over the water stains
in the ceiling that are from the leaky shower above. You will need to disclose this information if you
didn't fix it. Attempts to conceal it could find you negligent and
liable if there is a problem in the future.
You are going to need to disclose information about who the property owners are,
what property is being sold and when the sale date is.
In addition, you will need to disclose change of ownership, physical condition reports
of the property, as well as how the reports were obtained.
You will want to consult your attorney, escrow officer, and title insurance
company regarding state and local disclosure laws. One of these experts should have a
template disclosure statement that you can use to create yours -
make sure the template fulfills federal, state, and local disclosure laws.
Here are some sample disclosure statements and other related information we have
gathered for your review:
You should complete the disclosure statement and have this document presentable to all
potential buyers upon request. With a good group of experts, you will
have no problem creating a good disclosure statement quickly and inexpensively.
It's now time to attract buyers by marketing the property -->
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