Do sellers have to sign the property disclosure form?

  1. You have chosen to ignore posts from rodman75. Show rodman75's posts

    Do sellers have to sign the property disclosure form?

    When selling a house through an agency, is it mandatory that sellers sign the disclosure form?  Seems to me that it is only designed to protect the agency in the event something goes awry.  Further, I was told by a friend of a lawyer friend that sellers should never sign that form and do not have to!  Is this accurate?  Your thoughts?

     
  2. You have chosen to ignore posts from cb-jaco. Show cb-jaco's posts

    Re: Do sellers have to sign the property disclosure form?

    Costa Rica Real Estate
    Most accompaniment statutes crave home owners to complete a acreage acknowledgment anatomy that informs abeyant buyers of actual facts about the abode they are selling.
     
  3. You have chosen to ignore posts from scitu8. Show scitu8's posts

    Re: Do sellers have to sign the property disclosure form?

    In Response to Do sellers have to sign the property disclosure form?:
    The Seller's Statement of Property Condition is NOT a mandatory form.  However, two points against not filling one out:  It protects YOU the homeowner -  you disclose a "problem" with the home, the buyers decide to move forward, a few months later the "problem" is huge - they cannot go back and sue YOU or the agency.  Also, as a buyer agent, I can tell you that buyers would be very reluctant to move forward with an offer on a home without a SSPC.  Why should they spend money on an inspection only to find out that the seller could have disclosed facts ahead of time?  Some issues may/may not be deal breakers.  Massachusetts is a very Pro-Consumer state - better off being honest and up-front.

     
  4. You have chosen to ignore posts from rodman75. Show rodman75's posts

    Re: Do sellers have to sign the property disclosure form?

    Scitu8, 

         Without signing a SSPC, the buyers would be purchasing the property as-is, correct?  If that's the case, what would be the basis for a lawsuit?  I wouldn't sign one if I were selling.  My intention wouldn't be to mislead the buyer but to protect myself as the seller.  If I was unaware of a problem with the home, I wouldn't want the seller coming back to me stating that I knew or should have known of the problem and have a document with my signature to support their claim.  A home inspection should be done regardless of what assurances or lack thereof, a seller gives.  Would you, as a buyers agent, take a listing if the sellers were adamant on not signing a SSPC? 
     
  5. You have chosen to ignore posts from ronrsr14. Show ronrsr14's posts

    Re: Do sellers have to sign the property disclosure form?

    In Response to Re: Do sellers have to sign the property disclosure form?:
    [QUOTE]Scitu8,       Without signing a SSPC, the buyers would be purchasing the property as-is, correct?  If that's the case, what would be the basis for a lawsuit?  I wouldn't sign one if I were selling.  My intention wouldn't be to mislead the buyer but to protect myself as the seller.  If I was unaware of a
    Posted by rodman75[/QUOTE]


    Massachusetts is not a mandatory disclosure state.  Even if you don't sign the disclosure form, you may be responsible for problems you are aware of.

    I don't have a disclosure form in front of me, but isn't one of the choices something like "don't know," or "not to the best of my knowledge?"

    bests,
    -rsr-
    Ron Rothenberg
    Exclusive Buyer Broker
    4Buyers RE
    ronrsr@4buyersre.com
     
  6. You have chosen to ignore posts from JJLen. Show JJLen's posts

    Re: Do sellers have to sign the property disclosure form?

    rodman75:

    All house sales are "as is." That does not mean what you think it means. And it has nothing to do with whether you sign that form or not.

    "As is" means that you are not obligated to undertake repairs that a potential buyer demands. So, they get an inspection, find some problems, and demand you fix them. Because real estate is an "as is" sale, you are legally entitled to say no. They in turn are legally entitled to walk away from the purchase.

    And so, of course, many sellers will negotiate with the buyer, and fix some things. This is not because they have to, but because they want to save the sale.

    None of this has anything to do with disclosure or liability, however. Acknowledging a problem is not the same as agreeing to fix it.  You can acknowledge it, and then you can say "take it or leave it." That's the "as is" part -- the disclosure part is that regardless whether you plan to fix the problem or not, you have to tell buyers the problem exists.

    As a seller, you are obligated to disclose flaws that you know of. Period. So, a disclosure form acts as your proof that you told the buyers about all the problems of which you are aware.  

    This is important because if you know of a material problem and don't inform the buyers, then they can come after you later in court. If you do tell the buyers, and they go ahead with the sale anyway, they can't come after you. Your disclosure form is your proof that you told them.

    So why on earth do you think signing a disclosure form would hurt you?? You say that "If I was unaware of a problem with the home, I wouldn't want the seller coming back to me stating that I knew or should have known of the problem and have a document with my signature to support their claim." -- but that makes no sense. If you are not aware of a problem, you are not liable for not having disclosed it. They have to prove that you knew of the problem -- proving that you did not disclose is not enough, and thinking that you should have known is not enough. So your signature on that form doesn't hurt you in that scenario. If you did know, and you disclosed, then when they come back mad at you because of the problem, you point to the disclosure form and say, "too bad, I told you." End of story.
     
  7. You have chosen to ignore posts from cedrikduncan011. Show cedrikduncan011's posts

    Re: Do sellers have to sign the property disclosure form?

    For me the lawyer is right cause sometimes those agency are abusing seller ,as an real estate agent in Finland at http://www.kiinko.fi/ i suggest not sign even though it is the agency right cause we will never know that problem of it.

     
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