ULTIMATE DISCLOSURE - SHORTSALE,
Prepare a written disclosure than verbal agreement while making mutual commitments
Are you planning to sell your property? Then you have to prepare ultimate disclosure. When you have planned to sell the property to the buyer, you need to make an agreement in writing stating that the property is being sold to the buyer by abiding to the terms and conditions as mentioned in the purchase and sale agreement. It is very important to prepare this disclosure while carry out any real-estate transaction. However, after preparing this ultimate disclosure, you should get it reviewed by an experienced lawyer to ensure that it is written in the right format and has no legal jargons. Moreover, this ultimate disclosure has a clear description about the property that you are going to bid a sale. This disclosure is attached with all the required documents that a seller has to submit while selling the property to the buyer for verification. These documents, helps the buyer to find any damages or issues with the property and help them to take a desired action. These documents also have the refurnishing details that is made to the home.
Sometimes, the buyer even asks for the disclosure prior to making mutual commitments. These disclosures include the electrical repairs in the home, plumbing issues and other structural design problems. Most importantly, you should inform the buyer about the lead paint, mold issue, termites, and asbestos in the home. In addition to this, it is also important to say about the threat poses to the property due to floods, endangered animals around your area, polluted water, and if there is any water scarcity problem during the dry season. It is the responsibility of the owner to probe all these questions to the owner prior to purchasing the property. Ideally, knowing all this helps you to take an informed decision of whether or not to purchase the property. Without inquiring about these, will put you in troubles in the future and eventually results in financial loss.
ULTIMATE DISCLOSURE - SHORTSALE, 10.0 out of 10 based on 3 ratings