Real Situation Disclosure Question

Sellers of today's real estate MUST disclose everything that they know about the property that they are selling. Some 30 or more years ago it was "caveat emptor" meaning "buyer beware". As society became more litgious, the standard became one of total disclosure.How does a seller decide what to disclose? The standard is: If you know something, disclose it; but what about repairs that have been made during your ownership of the property? The problem is now fixed, why disclose that it once existed?For example: During a very hard rain, the roof leaked. You called a roofer who fixed it and it has has never leaked again. Do you disclose that the roof had a leak that has beenfixed?Suppose you are very handy and you made the repair yourself and the roof hasnever leaked again. Do you disclose?The prudent answer is yes. When did it leak? Who made the repair? How was it repaired?Let the buyer decide whether to have the roof checked out. Once a repair is disclosed, it becomes the buyer's choice to make further inspections.Sellers often ask whether any and all repairs must be disclosed. It is always better to disclose. Fortunately the California Association of Realtors has designed checklist to assist Sellers in making the appropriate disclosures. A good reason to hire a licensed real estate agent to handle the sale of your property.
Original post date January 31, 2007