So, my neighbors just had their gutters replaced. I don’t own that house, but somehow I now know more about that property than some owners of their own rental properties, apparently. C’mon…are you telling me that just because you never lived there, you don’t know ANYTHING about that property. You don’t know whether it’s on city water or not or whether it’s on public sewer or not or where the boundaries are? Really?
Here’s the thing…from a buyer’s standpoint, I love to see a blank Seller’s Disclosure Form. Upon inspection, we can ask for ANYTHING to be addressed. From the sell side, I can’t imagine advising a client who is selling a rental property to just put on every page, “Seller never lived here.” Pardon me if I call this lazy. You know something about the property. YOU OWN IT. Not disclosing things you know could be considered the “F” word. No, not that one, but FRAUD. It actually benefits you, the seller, to fill this form out to the best of your knowledge and as thoroughly as possible because in the state of Kentucky, if you disclose anything on the aforementioned form, the buyer, with a conventional loan, cannot ask for it to be fixed after the inspection. That’s huge! Nothing cosmetic, nothing disclosed, nothing brought up to code. Why wouldn’t you fill it out? I have an idea, you have an agent who, for some reason, has advised you not to.
HOT TIP…when it comes time to sell your home or rental property, DISCLOSE, DISCLOSE, DISCLOSE. It could save you a huge headache in the end…and maybe even more.
