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Real Estate Tips
Disclosure Laws >Read the Fine Print

Many states require the seller of a home to fill out a real estate disclosure statement when transferring the title. The disclosure is designed to reveal any material defects in the home to the new owner. When buying a home, take the time to read the fine print of the disclosure form.

Look for a section that asks the seller to indicate the material defects that exist in the home's major systems. Most forms will specify interior and exterior walls, ceilings, roof, insulation, windows, fences, driveway, sidewalks, floors, doors, foundation, and the electrical and plumbing systems. As the buyer you will want to know of defects in any of these areas.

Sellers are required to note the presence of environmental hazards or zoning violations. They must disclose if there are any encroachments or easements, or walls or fences shared with adjoining landowners. Room additions or repairs made without the necessary permits or not in compliance with building codes must be noted. Sellers must disclose citations or lawsuits against the property. If any such conditions appear on the disclosure form, consult with your real estate agent immediately regarding how to proceed with negotiation.

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Real Estate Trivia
Q 
What vast and beautiful territory is named with an Indian word meaning "Big Village"?

A 
Canada
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Jim Wolfe, REALTOR®, real estate agent and broker for Northville, Novi and Canton, Michigan home listings, property and land for sale - NUMBER1EXPERT(tm)

Jim Wolfe
Coldwell Banker Weir Manuel

41860 Six Mile Road
Northville, MI 48168
Office: (248) 347-3050
Direct: (248) 675-1242
Cell: (248) 705-0508
Fax: (248) 347-67914
JimWolfe@NUMBER1EXPERT.com

I am happy to help you with all of your real estate needs. Please feel free to contact me if you have a home to sell, if you are looking for a home, or if you have any questions regarding today's real estate market.

ABR ePro MLS REALTOR RELO


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