So this topic is in part with other topic in Blog 14 , 13 ,1 . This is one extremely important.
You will want to have conversation with your Real estate agent, Attorney and your the rest of your team about Disclosures in Real estate.
What are the Disclosure?
How Do they effect You ?
When do they apply ?
Who is effect by them ?
Bellow I have SHARED one of the most important Disclosure you come across . This is Agency Disclosure Buyer /Seller should be getting this disclosure in the first meeting with an agent . This a Great Disclosure to Read it talks about the Responsible a Licensed Real Estate Salesperson has to the Client or Customer. You should know, WHO the REAL ESTATE AGENT IS REPRESENTING ? This extremely important . Not ALL States have the same Disclosure so please ask Us at Nuno.Ribeiro@TeachingEstateState101.com or your local Real Estate Agent . If you want a copy please look below you will find a link below the Page 1 & Page 2 of the NY State Disclosure Form For Buyer and Sell.
Below is the Property Condition Disclosure Statement in New York . This Disclosure is Questionnaire Filled out by the Seller and provide to Buyers( purchaser) . Each State has different laws when it comes to property disclosure Please reach out to US or your local real estate agent for questions . In New York The Seller must provide the form that in the event that a Seller fails to complete a Property Disclosure Statement, the Seller will owe the Buyer $500 as a penalty for failing to provide the completed statement at closing.
Tip of the Day If your Seller isn’t providing the Disclosure Statement. You can always read the disclosure ask some of questions . Example How old is your roof ? How any layers of shingle do you have on the roof ? How old is Heating System ? Most Seller will disclosure this information even if they plan on providing the Buyer(Purchaser) 500.00 at credit at closing .
Please note at not all Seller need to provide a Disclosure Statement and/or provide Penalty $500.00 Credit to the Buyer(Purchaser) . There is exceptions to the Laws . Please ask Us or local Attorney for advice .
So you found your home after Search for some time . Some more then another . If you been reading my blog your search would be alot less then most . Just want to plug my blog .
So you making offer and waiting for response what do you do ? Here is some tips you should follow
Walk the neighborhood after work day hours around 5-7pm .
Talk to the neighbors if you see them , Just little talk nothing much just ask how is the neighborhood ? Let them talk more you listen ? this also may help find out about the owners.
Drive by the neighborhood late at night around 10pm-1am . This will help you get understand what noise can be around .
You should visit the house 3 times this can include first visit , Inspection and even the walk through at three different times . Once in the morning , Afternoon and evening
If there local market or shop walk in and talk to the employees about the neighborhood . Again listen more then you talk .
Visit the building Department, Assessor and Tax Receiver . Get to know all of the department in Town,Village or City Hall . Check the Fills . If you working with BUYER AGENT they Should do this or have someone on there team do this .
Ask your Team home inspector ,attorney, insurance agent , mortgage lender, Real Estate agent for any question they would ask the seller if they were you .
In your Negotiation request a meet and greet appointment at the house with ours but only request this after you sign Contract. You want to do this after the contract Seller will be more comfortable to meet with you . if you don’t get the meeting have agent send them the questions . Ask them at the Closing again if you wish . Understand some seller don’t make to the closing
Have a list of questions with you for Sellers . example question Do they have any Vendors they used for house they like to share ? ask your team for questions