What do I need to tell about property I am selling? Pt. 2
This post continues a real estate conversation we began in a prior post on our blog. This is the common time of year when people get the itch to either buy or sell property. Therefore, it is timely to discuss real estate law matters that might impact your life.
Are you trying to sell or in the process of selling your home? If you are leaving your home behind, it is likely because it's not suiting your needs or desires anymore. Still, you want to play the house up in order to sell it. What legally do you have to share with a buyer about the house's possible downsides?
As we mentioned previously, a buyer must know about any lead risks in the home, as well as any other defects known to you that would impact the home's value. California has some risky weather trends that impact real estate law. Sellers must disclose if a property is located within a classified flood zone. Fires also present a danger to California homes. Sellers are to disclose when a home is located within a fire risk area. The same is true for homes in designated earthquake fault zones.
One area of real estate disclosure law that might sound silly to some is the matter of death on a property. To you we present the question: Would you buy a house if you know someone had died on the property? Is there any sort of death scenario that would discourage you from purchasing a house?
Each state tends to have its own disclosure laws related to death. In California, sellers should disclose if a death took place on the property within the last three years. A seller and their agent do not have to disclose the cause of death but should not lie about the cause if asked directly by buyers.
Are you selling your home and facing a legal dispute? Maybe a buyer is confronting you with a dispute regarding a failure in disclosure. These laws are confusing and overwhelming. Let a real estate lawyer protect your interests and help you move past this hardship.