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7 Key Things About Seller Disclosures Every Homebuyer Should Know

HomeLight

You go to investigate the root cause of the water intrusion and discover something worse than wet carpet: evidence that the seller likely knew about the issue and told you nothing (nada! This is the exact type of unfair scenario that seller disclosures are supposed to protect you from as a homebuyer. Full disclosure.

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What is a Seller’s Disclosure? Here’s Why It’s Important

Redfin

As a buyer, it’s important to carefully review the seller’s disclosure packets with a real estate agent and during the home inspection. . What are the standard real estate disclosures? Each state has different requirements for seller disclosures – it’s best to check with your state’s guidelines.

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What Legal Documents Will You Need for Buying a House? Here’s Your List

HomeLight

Some states require sellers to fill out a seller disclosure statement documenting known repair needs or health and safety hazards in the home. This can include anything from knowledge of lead-based paint or asbestos, to the seller’s awareness of water damage in the basement, a leaky roof, or damaged plumbing.

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Find Cash Home Buyers in Orlando for a Fast, Simple Sale

HomeLight

The seller and buyer agree on a price and terms. Reiner advises asking for proof of funds such as a bank statement to ensure the buyer has sufficient resources to close the deal. The buyer does due diligence during the option period in Florida. The option period is negotiated between buyer and seller.

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25 Nightmare Scenarios That Can Disrupt Closing (And How to Avoid Them)

HomeLight

Otherwise, you can arrange for a wire or bank transfer of funds that gets to the closing agent early (most likely via the title company). We do all the due diligence upfront,” he says. Problem: Seller disclosures reveal something the buyer can’t accept. Don’t worry: You will be refunded any extra.

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Selling a House ‘As Is’ in Washington State

HomeLight

Disclosures. Seller Disclosure Statement. The seller “was skipping all the way to the bank,” Graham says. A good time to fill out Washington’s Seller Disclosure Statement (colloquially called Form 17 ) is prior to listing your home or requesting an offer so that you know it’s taken care of.

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