Myrl Jeffcoat’s Real Estate News
THE REAL ESTATE
NEWSLETTER FOR TODAY’S HOMEOWNER
Do I Need to Disclose?
By: Myrl Jeffcoat - April 17th 2008
when GreatWest GMAC Real Estate professionals sit down with a Seller,
the Seller will ask – “What do I need to disclose, when selling my
– they will be more specific, “Must I disclose the real reason I’m
selling my home is because of noisy and obnoxious neighbors?”
Seller questioned a GreatWest GMAC Real Estate professional, about a
ghost or two, which were “residing” in the home, and wanted to know
whether this needed to be disclosed.
California, we are a long way from a couple decades ago, when
Residential Purchase Agreements were one page, with no disclosures.
We now have home-sale disclosure laws requiring Sellers to reveal
issues or problems, which have a material affect on the market value or
desirability of a residence.
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is important that Sellers disclose any neighbors, which are noisy and
is a case, which the California Court of Appeal granted rescission and
refund of the buyer's money because of the seller's failure to disclose
the neighborhood nuisance. The case is Shapiro v. Sutherland
(1998) 60 Cal.App.4th 666.
it is also important to understand that certain things considered
obnoxious, to you as a Seller, many be somewhat attractive to a
potential buyer - for instance, the ghost(s) one particular Seller was
concerned about. In the
California Mother Lode, there are a least two inns, which come to mind,
considered (or at least advertised) as haunted.
It seems “ghostly” presence, can occasionally be seen as
To summarize, in addition to the usual issues coming to mind in disclosure – the faulty plumbing, the electrical outlet that doesn’t function, the smoke that billows out of the fireplace into the house, because the chimney needs to be swept, needs to be disclosed. Better yet, if it costs a few dollars to fix the defect or issue, than by all means, repair it. It will likely pay dividends in a home sale.
disclosure of all construction defects of the home, as well as
neighborhood nuisances, and issues are very important.
Full disclosure is beneficial to Sellers as well as Buyers,
because to not disclose, can become costly; particularly, when an issue
hasn’t been addressed, and finds it’s way into litigation, haunting
you like a ghost or two.
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If you have more questions about what needs to be disclosed, be certain to ask your GreatWest GMAC Real Estate Professional. We will be happy to discuss in more detail, the issues of your particular property which need to be disclosed.
you are currently considering selling or marketing a home, please feel
free to call or contact me. I can provide a free, no-obligation
Comparative Market Analysis of your property. . .Or if you are thinking
of buying a home, I would be pleased to be given the opportunity to sit
and explore with you the opportunities that await homebuyers at the
Service is always
Sacramento - El Dorado - Placer Counties
Date: April 17th 2008