Friday, February 14, 2014

A Few New Realtor Disclosures & Duties

I only bring the one that is important to ALL sellers, effective this summer....July 2014.

SB No. 652 ~ Regarding Construction Defects. The technical info is here:

Locally we have been disclosing this for years and years. Well, sellers are supposed to have been disclosing it!

It was approved by the governor last fall and sellers must adhere to in starting the first of July.

What's it mean? In short terms it means if you are aware, it's always if you the seller are aware, of any construction defects, litigation for same, anything of that nature. You must disclose it to the prospective buyer! Must! The reason for the litigation, the outcome of the litigation, the remedy from the litigation. Regardless if it's a house, condo, townhouse. always.....Disclose, Disclose, Disclose!

No comments: