SellingAHome-JenniferChristenot (1)
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sellers must disclose when homes are in a tsunami zone,<br />
while New York requires sellers to tell buyers if the home is in<br />
a flood plain or wetland. Again, different states have different<br />
requirements but if the home is at an increased risk of damage<br />
from a natural disaster, most states require that the seller<br />
disclose this information to any and all potential buyers.<br />
Any information pertaining to the Homeowners’ Association.<br />
If the home is a unit in a condo building or part of another<br />
multi-unit building, there’s a good chance that there’s a<br />
Homeowners’ Association. It’s imperative to tell all buyers<br />
any and all information regarding the association, including<br />
past meeting notes and information regarding membership<br />
dues. These can often be quite costly and add greatly to the<br />
purchase price. Even when this information is not required by<br />
law to be disclosed by the sellers, it should be.<br />
History of all repairs. While you’ll definitely want to tell<br />
potential buyers about recent repairs in order to increase the<br />
property price, you’ll also want to tell them about any repairs<br />
that have been done in the past, what exactly was done, and<br />
why. These repairs could become issues once again after the<br />
buyers have moved into the home and they need to know<br />
what to be watching out for.<br />
Water damage. Water damage can be one of the most<br />
disastrous, and most expensive, problems with a home so most<br />
states have a law in place that sellers must disclose all areas<br />
SELLING A HOME FAQ’S AND SAQ’S | JENNIFER CHRISTENOT<br />
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