Property Disclosure

Thorough Disclosure is a MUST for Brokers and their Agents

Listing brokers can be found liable if their sales agents fail to properly disclose pertinent property information.

Listing brokers should be certain that all of their standard listing packages include a property disclosure form, where such a form is required by law or not. Brokers should refuse to accept a listing agreement unless it is accompanied by a signed disclosure form. Moreover, brokers had better have procedures in place to make SURE – make certain – that the property disclosure is delivered to the buyers. What good is a disclosure form in the file that was never presented to the buyer when you are in court for “non-disclosure?”

Points for Disclosure

Many states, including California, have specific disclosure forms for real estate sales. If you are in a state that does not, here are some minimum disclosure items you should consider including in your package:

• Defects in the roof system.
• Defects in the electrical system.
• Defects in plumbing, septic tanks, water heaters (California – strapping for earthquake).
• Defects in heating or air conditioning (including the sizing being adequate for the space).
• Defects in the swimming pool.
• Defects such as cracks, bulges, or water seepage in the foundation or basement.
• Disputes over boundary lines, liens, easements, or other encroachments.
• Presence of asbestos, lead paint, radon, toxic wastes, underground tanks, or other environmental hazards.
• Infestations by termites or other pests.
• Location in a floodplain, wetland, shoreline, earthquake liquefaction zone.
• Defects in any mechanical equipment or appliances being sold with the property.
• Awareness of pending changes in zoning, property tax assessments, or special assessments.

The information on this Real Estate BLOG is for general information purposes only. Nothing on this or associated pages, documents, comments, answers, emails, or other communications should be taken as legal advice for any individual case or situation. The information on this website is not intended to create, nor constitute an attorney-client relationship.

Business Attorney Valerie Kramer understands that investing some time in getting your business contracts in order, handling common legal transactions, or negotiating a lease should be cost-effective.

Valerie Kramer is also a Real Estate Attorney and helps Property Owners, Buyers & Sellers, Real Estate Brokers, Commercial Tenants and others involved in everyday real estate transactions and disputes. Valeries’s clients get maximum value for every penny spent, without padded hours for unnecessary “additional services.”

Call me personally – (619) 259-5030
– Let’s talk through your issue or opportunity.

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