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Answers (7)
- Julie Arrick, "Home Sales in Philly"
- Contributions:33
yes, you should have been given a seller's property disclosure before making your offer... This form needs to be signed by both the buyer and seller. The only exception is an estate sale.
- Darrell Bell, "Quest Inspection Svc"
- Contributions:33
Brad nailed it; get an inspection! He is also correct in that getting a great inspection has much value relative to the cost of an inspection fee.
I don't know what a PA purchase agreement/contract looks like,but, here in California there are plenty of opportunities for the seller to check " I don't know" which makes for a pretty uninformative disclosure. Nonetheless; get it and make you your agent impresses them with the importance of being honest and forth coming!
I don't know what a PA purchase agreement/contract looks like,but, here in California there are plenty of opportunities for the seller to check " I don't know" which makes for a pretty uninformative disclosure. Nonetheless; get it and make you your agent impresses them with the importance of being honest and forth coming!
- Brad Lang, "SmartMovesInspection"
- Contributions:4
Weather the seller discloses or not you need to GET A HOME INSPECTION; especially on a rehab. Consider this-if you get a disclosure from an owner who has rehabbed the property there may be a lot of unknowns listed or empty spaces. So whats the point? If they never lived there then there wont be much to disclose (except building materials and types - ie:plumbing,electric, etc.). A home inspection is going to be your best resource. An inspector will tell you (or confirm) if the rehab was satisfactorily completed. The disclosure could say "new roof" but an inspector may find "yes, there is a new roof but it was installed incorrectly." You may not want to get involved with the purchase of a house that was improperly rehabbed without an inspection.
Please get a home inspection no matter what. They are relatively inexpensive and your best line of defense. Why should you be left with any expenses from a rehab?
Brad
Smart Moves Home Inspections, LLC
Please get a home inspection no matter what. They are relatively inexpensive and your best line of defense. Why should you be left with any expenses from a rehab?
Brad
Smart Moves Home Inspections, LLC
- Kerry Maginnis, "Kerry Maginnis"
- Contributions:4
Seller's Disclosures are required by law. The only time not required is an estate sale or bank owned property. The bottom line is if you own the home and have maintained/lived in the home you are required by law to fill out a disclosure. This includes rehabs and investment properties.
Hope this helps.
Hope this helps.
- Janice Bovee, "phillyrealestate"
- Contributions:56
A rehabbed property is a resale and a sellers' disclosure is required by law...period. Also when that much work is done to the house it is always a good idea to require copies of all the necessary permits that were issued. Your Realtor should have advised you on this :)
- Rick Chumsae, "Rick Chumsae"
- Contributions:283
Allow me to answer in a more general sense rather than just PA. In Texas, every 1-to-4 family RESALE is required to sell with a Seller's Disclosure, but the state law provides 11 exceptions. I do not have the Texas list handy but for example it includes:
-Executors of an estate sale
-Trustee in a foreclosure sale
-Bank or lender
and so on. You'll need to ask your state real estate commission for their list of exceptions. Some entities which are excepted provide a disclosure anyway.
-Executors of an estate sale
-Trustee in a foreclosure sale
-Bank or lender
and so on. You'll need to ask your state real estate commission for their list of exceptions. Some entities which are excepted provide a disclosure anyway.
- isabelle meyer, "bebelle3"
- Contributions:2
You need a disclosure for a rehab so you know what was done sometimes people dont replace the roof because it is still good. New construction amd estate sale dont require one
Do Rehabs Require A Disclosure?
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