The mantra for the seller could be "disclose, disclose, disclose". Some ask my advise about disclosure. My thought is that the more that is disclosed of what you KNOW to be true, the better off you are after your property is sold and you have moved. Why? Because any item that is disclosed in writing prior to the sale alerts the buyer to the condition and gives them the opportunity to reject that condition and move on or to continue with the purchase of the home.
In Minnesota we have several seller disclosure forms that are required. There is a methamphetamine disclosure; a 5 page seller's disclosure about the general condition of the property; a well disclosure; a septic disclosure; and the federal lead paint disclosure for all houses built before 1978. The "meth" disclosure is new. I laugh at the legal size single spaced document that could be boiled down to 2 paragraphs: the seller does know of meth production in the house, OR the seller does not know of meth production. Now tell me what self respecting producer of meth in a house for sale would disclose such a fact? If I was a crook, I certainly wouldn't have the scruples to be honest about how I'm breaking the law! There is a section on the 5 page seller's disclosure that succinctly asks to check whether the seller is aware, or not aware of, meth production in the house. If this simple paragraph is on the seller's disclosure, why fill out both forms? Redundant? You betcha!
Another amusing thing is also on the seller's disclosure. Page 5 attempts to delineate what does, and does not, have to be disclosed. Did you know that as long as you give the prospective buyer the info on how to check for a predatory offender, that the seller has no obligation to reveal that info? Now to me that would be a material fact that would definitely affect my ability to quietly enjoy the house! Other things not required to be disclosed are that a death occurred in the property from suicide, accident, or natural causes. For some cultures and belief systems this is also a very important deterrent to quiet enjoyment of the property. The other category that is not required to be disclosed is the perception of paranormal activity (ghosts)! Note that the words used are "perceived paranormal" which implies it's all in one's mind. Secondly, whether I believe in ghosts or not, I would not want to buy a house that someone said had ghosts in it. That would be just too freaky. It's there in black and white on the disclosure that when there is a ghost in the house, one is not required to disclose that fact. I'll pass on that one for sure!
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