“Hi Gary, my husband and I will be calling you next month to sell our La Jolla home. I’m doing my homework now and have a question: What are we supposed to disclose? We want to do the right thing and also avoid any problems after we sell…”
Answer:
You’re legally required to disclose anything that could “materially effect the value or desirability” of your property. I realize that’s rather vague, but that’s what the law says. If you have to debate whether to disclose something, my advice is to go ahead and disclose it.
We provide our clients with all the legally required forms, plus a few “bonus” ones to give you added protection. You’ll get them before your home goes on the market because we need them the moment we have a buyer and don’t want to rush you for them later.
The disclosure forms do NOT tell you how to fill them out correctly and safely. So we also give clients seven simple tips to filling out disclosures. How you do it makes all the difference in whether you later find yourself on the losing side of a judge’s gavel, or can rest easy knowing you’re protected.
CAUTION: Believe it or not, many agents do NOT even give their clients all the LEGALLY REQUIRED forms, let alone the extra ones. This could leave you vulnerable to a lawsuit.
