The Facts About Santa Cruz Real Estate Disclosures

Posted by Lauren Spencer on Saturday, April 27th, 2013 at 1:01am.

From new landscaping and a fresh coat of paint, to appliance upgrades and room remodeling, homeowners will go to great lengths to present their Santa Cruz real estate for sale in the best light possible. However, sellers need to be aware that while they’re fixing up current flaws in their home, they shouldn’t cover up past ones.

That’s where the disclosure comes in. All sellers will need to fill out disclosure forms about their properties, and every buyer should triple-check this form before signing on the dotted line of a contract. Below are a few facts about disclosures to help sellers ensure they’re doing the right thing when listing Santa Cruz real estate.

The Purpose of a Disclosure

Disclosures come in a variety of forms, but their primary function is to inform buyers about the state of a home, its past and its neighborhood. They also provide sellers with a safety net in case there is legal trouble down the road.

If You Know It, Disclose It

Disclosure laws vary from state to state, so check with your REALTOR to ensure you’re filling out the proper paperwork. When listing past renovations, insurance claims from natural disasters, or new neighborhood construction, it’s best to err on the side of caution. List everything you can possibly think of, so the buyer can never say they weren’t warned.

When to Disclose

The seller usually provides the disclosure after they’ve accepted the buyer’s bid. In most cases, buyers can back out of the deal without losing their escrow deposit if they find something unfavorable in the disclosure. Some sellers even like to provide the disclosure to any potential buyers up front, so they know what they’re dealing with before ever placing an offer.

Disclosure Versus an Inspection

While a seller’s disclosure form gives a property inspector a jumping-off point for things to double-check, they are not the same thing. The buyer hires a property inspector after they’ve placed a bid on the home to ensure there are no major issues. There could be problems of which even the seller is unaware.

If you’re getting ready to sell your Santa Cruz real estate and would like more information on what you should disclose, please call me at 831.662.6522 or email me at Lauren@LaurenSpencer.com.

For additional real estate information, please visit my home page at www.MySantaCruzRealEstate.com.

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About Lauren Spencer

Award-Winning Santa Cruz REALTOR®

Lauren Spencer is your local real estate expert, specializing in Santa Cruz real estate and surrounding communities—this is where she lives, works, and plays too. Let her know your questions about the community and county and she'll be happy to fill you in on all you want to know! Lauren Spencer has consistently been voted best local REALTOR in Santa Cruz and is always happy to offer her advice and expertise. Call her at: 800.226.4717.

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