When an agent first meets with a seller and has them sign the listing paperwork, part of the paperwork the seller completes and signs is a “seller property condition disclosure”.
This disclosure alerts potential buyers of repair and maintenance issues affecting the home of which the seller is aware of at the time of the listing. Home buyers should always ask to see the seller disclosures for a property they are considering buying.
Today’s real estate market has created a situation that many agents and sellers need to be mindful of. With the average days on the market extending past 4 months or longer, the home may face new repair or maintenance issues that have developed since the initial listing period.
The seller should acknowledge these new issues in writing. Listing agents should have the sellers update their original disclosure document when conditions within the home change.
Keeping information current and accurate regarding a home is critical as the time a home spends on the market increases. Make sure you have fully disclosed all known defects and issues about your home or property throughout the listing period.
Related Florida real estate views:
I am not going to give my home away!
Realtor and seller obligations under a listing agreement.
Should you buy a home in "as is" condition?
- Greg Staker - Watson Realty Corp. - 407-304-0255
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