Disclosures Required to Sell a House As Is
Real estate agents must follow municipal, county, state and federal laws related to disclosure statements covering the homes they list and sell. If you list your home with an agent, they will want your signature on several specific disclosure forms, which may vary depending on the geographic location of your property. Do you know the disclosures required to sell a house as is?
Asking an agent may not get the answer you seek, but advice commonly available online reveals that all the disclosures required for a standard real estate transaction are also required for an “as is” sale.
The following items are examples of issues that should be noted on disclosure statements for the protection of prospective buyers:
1. Sewer or septic problems
2. Furnace, air conditioning or ventilation system problems
3. Termites and termite damage
4. Foundation movement, cracks and previous repairs
5. Stove, refrigerator, dishwasher and built-in microwave problems
6. Earthquake and flood zone dangers
7. Roof leaks
8. Old lead-based paint exposure
9. Radon and asbestos presence
10. Violent death and drug manufacture history
11. Zoning infractions
Can You Avoid Providing Disclosure Statements?
Failure to provide property disclosures which are required by law may result in legal consequences if the buyer discovers a serious problem and sues you after closing. But every buyer won’t choose to sue you.
Depending on the laws in the state and county where your property is located, you could sell a house as is to a cash buyer who waives their right to receipt of disclosure statements. A professional cash buyer has experience buying and selling homes as is. Signing a waiver instead of a series of disclosure statements may be common practice for him or her.
You cannot induce a buyer to buy without making required disclosures, but a buyer can offer to purchase your house as is and sign waivers.
If you prefer to avoid completing and signing property disclosures, look for an experienced real estate investor who is not opposed to signing waivers as part of an “as is” purchase and sale agreement.
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