Talking Disclosure - Tell It To The Judge!
Disclosure is the backbone of a trust that is created between Sellers and Buyers. Without it, the very foundation of a home sale is in jeopardy. In this episode the topic of Disclosure is discussed in detail.
Tell It To The Judge!
When someone hears that phrase they often depict a traffic cop telling a speeding motorist to address their concerns over a speeding ticket to the presiding judge. However, what happens when a Seller doesn't disclose known Defects in a property they are selling? This episode addresses the interesting, and ever-so-important topic of Disclosure.
Imagine if you were Buying a home and a Seller didn't disclose leaking pipes. or a known condition in the home. Imagine that you, as the Buyer, found out from the neighbor that the previous owner knew of those issues and didn't disclose them in the Seller's Condition Report.
State law mandates that Seller's complete, and relay, known Defects in a Property they are selling. Yes sometimes Sellers decide not to mention the tree roots that occasionally creep into the sewer laterals, or the occasional leaking roof when ice dams form.
John addresses how to protect yourself as a Seller and how to proceed as a Buyer when it comes to Disclosures. The Wisconsin Real Estate Condition Report is covered, as well as the other disclosure forms when selling vacant land or a commercial property.
Everything you need to know as a Seller is in this episode when it comes to disclosing. In one word, as John puts it, "Over-disclose" at all times. Tell the Buyer more than you think you might need to. And when in doubt, or you consider not disclosing, picture yourself sitting on the witness stand in court testifying in front of a judge or a civil jury.
Remember - when in doubt, over disclose so you don't have to Tell It To The Judge!
When someone hears that phrase they often depict a traffic cop telling a speeding motorist to address their concerns over a speeding ticket to the presiding judge. However, what happens when a Seller doesn't disclose known Defects in a property they are selling? This episode addresses the interesting, and ever-so-important topic of Disclosure.
Imagine if you were Buying a home and a Seller didn't disclose leaking pipes. or a known condition in the home. Imagine that you, as the Buyer, found out from the neighbor that the previous owner knew of those issues and didn't disclose them in the Seller's Condition Report.
State law mandates that Seller's complete, and relay, known Defects in a Property they are selling. Yes sometimes Sellers decide not to mention the tree roots that occasionally creep into the sewer laterals, or the occasional leaking roof when ice dams form.
John addresses how to protect yourself as a Seller and how to proceed as a Buyer when it comes to Disclosures. The Wisconsin Real Estate Condition Report is covered, as well as the other disclosure forms when selling vacant land or a commercial property.
Everything you need to know as a Seller is in this episode when it comes to disclosing. In one word, as John puts it, "Over-disclose" at all times. Tell the Buyer more than you think you might need to. And when in doubt, or you consider not disclosing, picture yourself sitting on the witness stand in court testifying in front of a judge or a civil jury.
Remember - when in doubt, over disclose so you don't have to Tell It To The Judge!