When it comes to selling your property, the law requires specific disclosures about the real estate wherein the owner makes a statement regarding any issues that could affect the value or full enjoyment of the property. These sellers’ disclosures include information for the safety and protection of the new owners. A professional inspection should reveal any issues or problems in the disclosure. However, if the passing of time should reveal a problem missed during the inspection, you may still be held legally responsible. In this post, we take a look at What Are Disclosures and Why Are They So Important When Selling Your Property in Arizona.
Sellers’ disclosures are important when selling your property in Arizona because they act as legal protection for you as the seller. Disclosures also protect the buyer, informing them of problems or faults with the real estate or surroundings. If an issue like odors from nearby manufacturing or loud sounds from airport flight paths has impacted your enjoyment of the property, it is likely you should disclose the matter.
Disclosures are also important when selling your property in Arizona because it provides the buyers with the information they need to plan for future repairs on the property. In addition, an inspection contingency gives the buyers the right to have the property inspected during a given time period. Depending on the findings, they may negotiate for repair credit or walk away from the deal altogether.
There are exclusions to mandatory sellers’ disclosures that may vary state by state and even in different counties. By understanding what you are legally permitted to omit, your property may be easier to sell or sell for more than if the buyers were aware of the excluded information when selling your property in Arizona. If you should find yourself on the fence about disclosure, it is best to err on the side of caution and make the disclosure.
When selling your property in Arizona, you must understand the laws surrounding your disclosures to avoid costly legal consequences and the emotional turmoil accompanying them. Actively concealing defects is fraught with legal risk. You face a potential lawsuit for recovery of damages from negligence, fraud, or misrepresentation, among other causes of action.
Investment Land Alliance
The local professional buyers at Investment Land Alliance can help you skip the disclosures when selling your property in Arizona. We’ll make a fair offer to buy your property for cash, as-is. You will not pay commissions or hidden fees at closing, and you won’t even pay closing costs through a direct sale. Should you have any concerns about your real estate, your safest bet is to work with professional buyers at Investment Land Alliance to avoid the legal pitfalls and costly damages that threaten the outcome of your sale by disclosure laws. At Investment Land Alliance, we understand the importance of communication; our professional buyers listen carefully to every word you say. You can rest easy at night after you have spoken with one of the seasoned experts at Investment Land Alliance; feel free to ask any questions or express concerns about a direct sale of your property. Call Investment Land Alliance at 480-779-8444.