Real Estate Disclosures for Selling a Home: Everything You Need to Know

Real Estate Disclosures for Selling a Home

We all know that it is essential to improve the curb appeal of a house before selling, but not every homeowner renovates their property to attract buyers. Some do it to hide any existing defects. 

For example, a fresh coat of paint can help sellers present their house in the best light. On the other hand, they can use it to cover something up. There is nothing wrong with this, as long as you relay both past and present defects of the house to your potential buyer. 

In most states, buyers must provide disclosure statements before selling their properties. Of course, the laws and regulations vary from one person to another. If you want to sell your house fast in Berkley, you must provide disclosure statements, but what is real estate disclosure in the first place? 

  • What is real estate disclosure?
    Real estate disclosure is a legal document that tells the buyer about previous and current flaws of the house. The rules and regulations for disclosures vary from one state to another. For this reason, you need to become familiar with all of these rules before listing your house on the market. Are you wondering what a typical disclosure involves? Do not worry! At Detroit Cash For Homes, our professionals can help you understand this area. 
  • What does a typical disclosure include? 
    Here are the issues that your real estate disclosures must cover. These are: 
    • Leaky windows and roof
    • Problems related to septic or sewer
    • If your house is susceptible to earthquakes and floods
    • Foundation issues and any previous repairs 
    • Home improvements without a permit 
    • Presence of radon and asbestos
    • Termite damage 
    • Weed outgrowth 
    • Information about a crucial construction 

If you want to know more about real estate disclosures, keep reading. Below, we have answered some commonly asked questions. 

  • Is real estate disclosure and inspection the same?
    The answer is a simple “no.” Disclosure is a legal document that a seller provides to a potential buyer. It gives information about the current issues of the property, along with the past repairs and improvements. On the contrary, a third party inspects the home and finds problems no one is aware of, including the homeowner. 
  • What is the purpose of a disclosure?
    The disclosure documents serve both the buyers and sellers. Firstly, these statements inform buyers about the situation of the property they want to buy. Secondly, the seller can list all the current and previous defects in disclosure to protect themselves from any legal action. Please remember, you should reveal even the negative things about your house to your prospective buyer. 
  • How do I make a disclosure statement?
    As mentioned already, the disclosure laws vary from state to state. However, in general, the seller has to complete and sign plenty of documents before listing. It includes:
    • Natural Hazards Disclosure Statement 
    • Advisories about Market Conditions
    • Local and State Transfer Disclosure Statements
    • Megan’s Law Disclosures

If you do not want to waste your timing completing disclosure documents, sell your house as-is to a Berkley estate home buyer. Instead of numerous disclosure documents, these real estate investors need a signed waiver for a home sale. Once you hand over your property to Detroit Cash For Homes, our professionals will handle everything for you. We buy houses in Berkley without repairs, upgrades, listing, and marketing. Also, we never ask our clients for commissions and application fees. 

If you are searching for the best way to sell your property without providing disclosure, contact Detroit Cash For Homes. We buy houses for cash in Berkley in any condition and any season of the year.