Home sellers sometimes worry about disclosing a house’s defects or potential problems, for they may think it will deter people from wanting to purchase the house. When, in actuality, the opposite is true. When it comes to seller disclosure statements, honesty IS the best policy, so disclose, disclose, disclose. This honesty will build trust with potential buyers and pave the way to smoother negotiations. It will also relieve you from liability and protects you from seller fraud.
So what are the types of things a home seller should disclose on a seller disclosure form?
Existing defects and repair history of the roof, foundation, and other structural components
Known environmental hazards, including mold, asbestos, and lead-based paint
Property damage and repair history, including water and fire
Existing defects, repair history, and age of the HVAC, water, sewer, and electrical systems
Because of Colorado’s Property Stigmatization Statute, sellers do not have to disclose things like murder, death, suicides, and hauntings of a property.
If you have any questions about selling or buying a home, don’t hesitate to contact Chadwick V.R. Williams at Denver Real Estate Professionals. We are happy to be a free resource for all your Colorado real estate needs.
Chadwick V. R. Williams, SRES, CRS, GRI, SRS, Luxury Certified
Broker | REALTOR® | Property Manager