Soon after making an offer on a home, buyers will receive a document called a seller disclosure form. Read it carefully! This is not a piece of paperwork you want to slide by with a mere cursory glance.
A seller disclosure form is basically a list of everything the seller knows about the condition of his property.
“This allows potential buyers to understand what they are getting,” says Nicole Durosko of New York’s Warburg Realty. All physical defects and issues affecting a property’s value should be disclosed on the form.
Seller’s Disclosure Statement for Residential Property requires that most home sellers fill out a Seller Disclosure Form. The purpose of the form is to disclose any issues with the house you are selling that you are aware of and give the potential buyers information and a historical account of your home. Missouri has only a few statutes that specifically require a home seller to make disclosures to potential buyers. This statute requires that if the property is or was used as a site for methamphetamine production, the seller must disclose that in writing to the buyer.
Relatively few portions of Missouri law involve specific disclosures that home sellers must make to potential buyers. If, however, you use the services of a real estate agent, your agent may need to make certain disclosures to the buyer based upon professional regulations and state law. Filling out a Seller Disclosure form is for your protection, and it prevents the buyer from later claiming that he or she did not know about a particular defect.
Missouri specifically allows you to remain silent on certain matters related to “psychological impacts” on the property, including whether prior occupants of the home had HIV/AIDS or whether the home was the site of a murder, felony, or suicide. (See Missouri Rev. Stat. § 442.600.)
Instead of worrying about problems with your house, you can sell your home to Terra Firma Property Solutions, LLC, who will purchase the home as-is – even if the issue is something catastrophic like fire damage or flooded home – close quickly, and do any needed repairs themselves.
We buy and sell properties throughout the greater Kansas City area. We specialize in buying distressed homes, then renovating and reselling them to home buyers and landlords. Terra Firma Property Solutions: excited to be part of the economic rejuvenation of Kansas City and its surrounding areas.
Call us today at (816) 866.0566
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