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Selling a House: The Importance of Disclosure Statements

If you’re considering selling your home, chances are, you have heard rumors of the dreaded “disclosure statement.” The term may sound ominous and onerous, but it can actually be a useful tool for selling a house. It’s important to understand what a disclosure statement is and how it can benefit you and help protect you if you are selling a house. understands that selling a house can be a stressful experience and strives to make the process as easy and hassle-free as possible.

A disclosure is simply a written summary of the important facts of your property including a description and condition of each room and the property. The disclosure statement tells the prospective buyer what you know about the property, why it’s worth what you are asking and any legal restrictions on sale.

The buyer should be able to accurately determine if they are getting a good deal or not based on your disclosure statement, which can also provide valuable feedback to help you improve your sales skills. By making sure the disclosure statement is accurate and complete, you avoid the awkwardness of having to disclose information you “forgot” or having a buyer decide not to buy based on something that should have been known from your disclosure statement.

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The advantage of using a written disclosure form is that it helps you keep your eyes on the prize: the sale of your house. It’s easy to become so immersed in the sale that you forget the very practical things, like the location of your electrical panel or where your water meter is. Some people sell a house every few years and may not remember what you told them about the property. If a couple of years have passed and there was no disclosure statement, it is possible for them to claim they were lied to.

A disclosure statement is only as good as the information you provide. Having an agent prepare the disclosure form is a must, as they are trained in the process and will be more thorough than most sellers. The written document will also help your agent to highlight problems with your house that you may have missed yourself. Many buyers today expect a written disclosure statement when purchasing a home and it can help avoid misunderstandings or disappointments down the road.

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