What Do Real Estate Agents Have to Disclose?

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What Do Real Estate Agents Have to Disclose?

Information is knowledge. When buying a home, people want to know certain things about its history before the purchase. On the other hand, some information may prohibit the sale of a house or would be unnecessary for it to be disclosed. There are laws set in place that mandate some information to be disclosed, while other laws protect the privacy of the individual. Here is some more information!

Deaths Do Have to Be Disclosed

By law, a death in the home does have to be disclosed before the home is sold to an individual. However, each state has different levels of this disclosure. For example, some states do not require the seller to explain how the death occurred in the home, while other states will require the information of the death and how it occurred to be disclosed to the client before the sale of the home.

According to Boardwalk Property, the best Bristol estate agents, there is an exception in the case of disclosing deaths in a home. If someone has passed away in a home due to natural causes, then the death does not have to be disclosed. Sometimes real estate agents will decide to disclose all information about deaths to a potential buyer to cover any basis of legalities.

For more information on disclosures about deaths that a real estate agent will have to make according to the laws, SFGate has some helpful insight.

Neighborhood Association Fees and Rules

One important thing that needs to be disclosed before a person buys a home from the real estate agent is any homeowner’s fees. If the home is a part of a Home Owners Association, then all of the information involved with that will need to be disclosed. This allows the buyer to know exactly what is allowed and what fees are due when it comes to the home. This should be disclosed by the real estate agent.

If this information is not disclosed, the new homeowner can pursue legal action on the matter. Plus, it can cause difficulty in the long run. Even simple things like the real estate agent not disclosing this information can cause issue when the new homeowner begins to paint their home or plant new trees.

This YouTube video shows some of the things that a homeowner’s association may require for homeowners. This is totally dependent on the particular association. It is important to disclose this information to any potential home buyer.

Repairs Should Be Disclosed

Another thing that sellers will need to disclose to a potential home buyer is any repairs that have been made on the home. This allows the potential home buyer to know all of the repairs that have done on the house. This can actually help with the sale of the house. This does depend on which state the home is being sold in also.

Also, any repairs that have not yet been done but may be required should be disclosed as well. A home buyer can inspect the home and see what repairs will need to be done, but not all are detected. If a repair is needed, then it should then be disclosed if it is known about by the home owner intending to sell their home.

Possible Nuisances Should Be Disclosed

There are certain things that may be a nuisance to a home owner. For a real estate agent there are a set of things that should be disclosed to potential home buyers. Any nearby nuisances should be disclosed to the home buyer before the sell of the home.

Some listed nuisances that real estate agents should disclose before the sale of the home:

  • Nearby smoke from businesses or commercial properties such as factories and other buildings. This could also be a local trash plant or even a dump.
  • Noise nuisances. This can be from nearby clubs or bars. If something nearby is known to make a lot of noise, then the real estate agent should disclose this to the home buyer. That can even include a nearby train or even an interstate.
  • While military bases are used to train individuals to protect and serve our country, they do have a lot of noise coming from them. This should be included in the disclosure of noise nuisances.

What If the House Is in a Flood Plain?

Another thing that should be disclosed before the sale of a home is the possibility of natural disasters in the area. For example, if the home is located in a flood plain, then this information should be disclosed to the person. Flood plains are areas that have been known to flood or are located near a river, lake, or ocean.

More information on flood plain can be found at FEMA.gov.

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