: Sellers Disclosure : In any residential real estate transaction in the State of Nevada, the Seller and the Agents are obligated by law to inform the Buyer of any defects of which they have knowledge. The Seller is also obligated (unless they are exempt) to provide the Buyer with a completed “Seller’s Real Property Disclosure Form”. On that form, the Seller is given the opportunity to disclose to any potential Buyers any and all conditions of the property that they are aware of. We recommend that you personally fill the form out completely to the best of your knowledge at the time you list your property. If you don’t know the answer to a particular question, write in “unknown”, do not leave any blanks on the form. We will release a copy of your disclosure form to an interested Buyer who requests it and will attach an updated disclosure form to any purchase offer on your property. Of course, neither the Agents or you, the Seller are experts regarding property condition, and existing or potential problems are not always visible or known at the time an offer is made. There are clauses in the standard Purchase Agreement that refer to disclosures, inspections and "Due Diligence". They are intended to give the Buyer the opportunity (within a specified time limit) to hire licensed experts to perform inspections and to satisfy himself as to any items of concern prior to the close of escrow. The process for informing and satisfying all parties as to the condition of the property may seem time consuming and burdensome to some Buyers and Sellers, but the intention is to make sure that all parties proceed to close of escrow with full knowledge and agreement. The intent is not to make sure that all properties that change hands are in perfect or like new condition, but simply that the Buyer is aware of and satisfied with the condition of the property they are purchasing. As your agent, we will guide you through the process of obtaining inspections and the negotiation of any repairs requested by the Buyer due to the inspections. Some of the inspections that a Buyer may request are a pest control inspection, inspections relating to property and systems condition,well and septic tests, hazardous materials (i.e. oil tanks) and property boundaries. We coordinate with and schedule appointments with the various inspectors, and are present during the inspections. In our experience,
the “due diligence” period is a time when our skills at
coordination and negotiation can make the difference between a successful
closed transaction and one that becomes very stressful and difficult
for Sellers and Buyers to manage or even “falls through”.
This is one area where hiring an experienced and skilled agent is of
great value to Sellers. |