The New Seller Disclosures (Episode 77) S6 E2

You can watch this episode on Youtube.com: https://youtu.be/ALsX-M82ET8

There is a new seller disclosure document — do you know how to use it?

0:00 – Introduction.

1:18 – No assumption of agency for presenting the disclosure document.

2:49 – Liability. Liability lies with the information. If the seller has information and doesn’t disclose, the seller has the liability. Once the seller discloses to the information to the buyer, the buyer has the information (and the liability).

3:15 – Why do we have disclosures? Seller obliged to disclose “Material Fact.” Would a reasonable person think this fact affects the value or what a buyer would offer? Then it should be disclosed. This isn’t a $50 purchase. It’s a $700,000 home, and the buyer deserves to know all they can about this gigantic transaction.

7:35 – Permits.

9:55 – Who owns components of the property?

10:52 – Boundaries and Easements. Are there encroachments? Are there disputes?

13:01 – Water. Where’s your water from? Secondary water? HOA? Well? Secondary Water?

14:15 – Meth & Stigmatized Property. You can always ask about a stigmatized fact, and you’re entitled to an answer. Do you know for certain? Answer “yes” if you do, otherwise, you’re obliged to answer “no”.

18:45 – They leave you most of a page for clarification.

19:31 – What’d we learn today?

21:42 – Out Takes.

* No stigmatized properties were harmed in the making of this video.

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Realtors with Hive Collective at Presidio Real Estate:

Tyler Cazier: 801-210-0230

Aric Wiszt: 801-228-7687

 

Lender with Elite Team at Security Home Mortgage:

NMLS: 178787

Jason Christiansen: 801-669-7271

NMLS: 240472

 

A Production with Security Home Mortgage's Jason Christiansen, and Hive Collective at Presidio's Tyler Cazier and "Mr. Suit" Aric Wiszt.