5 Things Sellers Need To Know About Real Estate Disclosures in Los angeles, California

Anyone who has spent time with real estate professionals will probably have heard the adage of "reveal, reveal, reveal!" It's worth your time to discover these four items that sellers need to know about Los Angeles real estate disclosures.

Enjoyment

One of the things that buyers expect when they purchase real estate is their right to enjoy the house. If you are aware of some issue with the property or place that is prohibitive for that pleasure, it is another item on the list that vendors need to know about Los Angeles real estate disclosures. Is there a high school with a band or some other extremely loud noise source? A factory or some other source of odor or smoke fumes that at some times overwhelm the neighborhood? Does your bright and happy home by day, due to the existence of criminal activity, become a dangerous landscape at night?

Hazards

Another thing sellers need to know about real estate disclosures in Los Angeles is to make buyers aware of actual or possible hazards inherent to the property. The laws on this subject differ widely, but they cover a broad range of potential hazards faced by homeowners across the country and it is strongly recommended that you become aware of the laws governing your land. Federal rules, such as those regulating lead paint, still exist.

Basically, you have to report the data if you are aware of natural hazards on the property itself or the surrounding location, such as being close to a fault line in places where earthquakes are more frequent. It is also important to provide for issues that have contributed to the contamination of the land, whether from local commercial activity or caused by a natural source. Similarly, pest-related problems such as termites and their management should also be included.

Death

If you are possessed by ghosts, while not a common topic when it comes to financial transactions, you may need to disclose your experience of the haunting in certain states' laws regulating real estate disclosure. Fatalities with causes unrelated to any problems with the property itself are generally not likely to be required to be disclosed. However, should the cause be attributable to a property condition, either structurally or otherwise, this must be revealed in most situations. When it comes to real estate disclosures in Los Angeles, sellers would be wise to educate themselves on the specifics of the real estate laws about death.

History

What was fixed, why, and when are among the things that sellers need to know about Los Angeles real estate disclosures. There are just some problems with a home that will continue to rear their ugly heads, which you may be well aware of. In the past, was there a problem with water damage, what was the cause, and was mold there? Was the harm remedied by experts properly? While it might be possible to temporarily mask a problem by timing the display of the property deviously, it is a nightmare to find yourself caught up in the web of being sued, with the potential of financial ruin should you lose your case. Problems that you are aware of in the past could also have been resolved and may even become a potential concern remotely, are among the facts about your property history that you will need to bring to the attention of your buyers in your report.

As-Is

"One important thing sellers need to know about the disclosure of real estate in Los Angeles is that any known problems with the home that devalue the property must be reported even if you sell" as is. If you fail to disclose information that you are aware of, there is a risk of being sued. Laws can differ from state to state on what must be disclosed. For example, your grandfather clock is not included, you would want to be certain to have anything in writing that comes with the property from the start.

Conversely, if anything is missing from the house, which on a fast walkthrough might not be apparent, but will be expected to be present, you must also report this. For example, on the hottest day of summer, you are showing the property and the buyers see a heating unit, but you know that this is just an outer case and inside the unit there are no working components, you could easily be sued for failing to reveal this detail.

Although you may consider keeping back details that you are aware of, which in your state may not be legally necessary, it is prudent to reveal the information to fend off any chance of potential court proceedings. In other words, you need to show Something, which could end up decreasing the price you are asking for. It's better to sell the company directly as is! Find out more about how we can support you today by sending us a message or by calling us.