Writing an Offer - Safeguards Regarding the Property

Disclosures From the Seller

                       

Although you have toured the property, looked at the walls and ceiling, turned on the faucets and played with the light switches, you have not lived in the home yet. The seller has perhaps years of knowledge about their home, and there may be some things you want to find out about as early as possible. For this reason, you will require certain disclosures as part of your offer.

           

Basically, you want the seller to disclose any adverse conditions that may have a substantial impact on your decision to purchase the home. This would include any problems with the house such as any past leaks or property damage, additions or alterations, known electrical / plumbing / mechanical issues, whether the property is in a flood zone, a noise zone, or any other kind of hazardous area.

           

If you have an agent representing you, the disclosure documents provided by the seller side to the buyer side is almost automatic, but many states do not require individuals selling their own home to provide you with this information. Often they do not require banks selling foreclosed property to provide these disclosures, either. Obtaining these types of disclosures should always be a part of your offer, and time is of the essence. Discuss with your agent the need to obtain a copy of the disclosure documents as soon as possible after your offer has been accepted by the seller.

Gretta Sheffer Minnema
Gretta Sheffer Minnema
10791 Los Alamitos Blvd Los Alamitos CA 90720