Real Estate Disclosure Blues
I enjoy your weekly question and answer and haven’t seen one on disclosures. I am in the midst of selling a home in Glendale. As I acquired this property through foreclosure, it was purely an investment and I have never lived there. In my listing contract I noted: “Home sold as is, with no seller repairs or warranties.” This was also reiterated to the buyer in their counter offer.
Once we opened escrow, my Realtor® gave me a stack of disclosures with a lot of questions he told me I must answer. I don’t know most of the answers and don’t understand how I can be expected to provide the answers when I am not that familiar with the home.
As a real estate agent, I too am often frustrated by the amount of paperwork, some of which seems very redundant. By law you are required to complete these disclosures. I am not a real estate attorney, but in my experience as a Realtor® it would seem prudent for you to note on the disclosures that you have never occupied the home. The purpose of the disclosures is for you to disclose any known material facts or defects of the home. If you have been to the home and noticed a leak, that would need to be disclosed. But if you don’t know an answer, state “unknown” or when applicable check that box. You don’t need to play detective to learn the answers.
Unless you agreed to in the Real Estate Purchase Contract, you are not required to complete the Property Questionnaire, which is the three page question and answer form.