Disclose, Disclose, Disclose

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Just the other day,I heard a REALTOR say that when they list a short sale, the Seller doesn’t need to fill out a Seller’s disclosure.  HUH? I am sure that they forgot about Johnson vs Davis wherein the Seller of a home – that knows facts that materially affect the value of the property which are not observable and are not known to the Buyer –  that Seller is under a duty to disclose them to the Buyer, even in an AS-IS contract.

Interesting that Florida law says the seller disclosure need not be in writing. However, tosign protect your Buyer and/or your Seller, in writing is always best.  Also remember that the Seller fills out the disclosure form…not the REALTOR. Many times I have heard the other side in a transaction say: My REALTOR filled it out for me!  So my Fellow REALTORS, stay out of trouble and take care of your Buyers and Sellers. If you bring the Buyer to the transaction, make SURE your customer gets a Seller’s disclosure. If you bring the Seller to the transaction, have them fill out a disclosure. It will save you a lot of grief in the long run!

Until Next Monday…

Matey sig

This entry was posted in 2014 Vice President, 2015 President Elect, A Better You, Professionalism, Risk management, Tips and tagged , , , , , . Bookmark the permalink.

One Response to Disclose, Disclose, Disclose

  1. I am seeing more and more short sales and “as is” homes hit the market in my area each day lacking a seller’s disclosure. I think it should be required on each and every sell that is not a foreclosure, even have some investors trying that when in fact they should be required to include the seller’s disclosure as well if they say they ripped the house back to the studs and completely renovated it or permits show it was done.
    Great post Matey!

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