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What people should know about home disclosures

On Behalf of | Jan 28, 2020 | Firm News |

If people are preparing to sell their home in Oklahoma, chances are they have spent considerable time organizing critical information about their property to make their listing appealing and persuasive to interested buyers. One thing they may not have considered is if there are additional disclosures, they should make about their home in addition to the selling points they have so readily discussed. 

While disclosure laws vary from state to state, a general rule of thumb is that people should be forthright about sharing interesting information about their property if they foresee it being something that the new buyers would want to know. Even if not required by law, being honest about the unique characteristics of a property can be a way for sellers to protect themselves from any kind of unfounded claims made by the buyer later on. 

According to Forbes, some of the things that you may want to include in your disclosure statement are the following: 

  • Ongoing issues with pests including bugs, moles, mice and other animals.  
  • Evidence of paranormal activity that has occurred in or around your home.  
  • Whether or not another person has died in your home either from suicide, homicide or natural causes.  
  • Issues with drainage that have resulted in flooding or other problems.  
  • If there was previously lead paint used throughout your home.  

Zillow recommends that you include an additional document where you can briefly disclose any pertinent information in the form of yes/no questions that address areas of interest to buyers. Experts say that disclosures that are not made that should have been made could be held against you for up to 10 years. As such, if you are ever wondering if you should include something or not, doing so maybe your best bet for long-term protection and peace of mind.