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Real Estate Disclosures – What You Have to Share Legally in Kansas City

Real estate disclosures come with many questions for both a buyer and seller. Our rule of thumb? Be as open and honest as possible. In our latest post, we will cover what you need to disclose by law. 

In Kansas City, as in most jurisdictions in the United States, sellers of real estate are typically required to disclose certain information about the property they are selling.

Being transparent and forthright as a seller is crucial not just to prevent legal troubles but also to establish your credibility and integrity. Concealing property defects, pending repairs, or any other concerns may have repercussions down the line. Such actions can lead to legal consequences or unfavorable outcomes, reinforcing the importance of honesty in real estate transactions. Embracing transparency can safeguard your reputation and prevent future complications, ensuring a smooth and trustworthy selling process.

Most real estate lawsuits occur because of non-disclosure.

Wondering about your legal disclosure obligations as a property seller in Kansas City? Essentially, you must reveal anything that could impact the property’s value. Key areas for disclosure include:

  • Issues with the land, such as drainage, bad soil, and potential for flooding, can impact building possibilities and cause water damage.
  • Disclosure of foundation level and known cracks is crucial to prevent potential structural damage due to settling.
  • Plumbing problems, sewer issues, and leaky pipes should be highlighted as they can lead to costly water damage repairs.
  • Any irregularities with heating and cooling systems need to be addressed to ensure proper functionality.
  • Inform potential buyers about any pest issues such as cockroaches, rats, ants, termites, or moles.
  • Leaky roof or missing shingles? Make sure to disclose this to buyers before they encounter it during a rainstorm.
  • Disclose the presence of lead paint, a common disclosure in home sales and rentals.
  • Issues that may affect the title or ownership rights should be disclosed upfront, not during the closing process.
  • Provide documentation for past repairs and insurance claims, detailing the work done and materials used.

Moreover, certain states may necessitate extensive disclosure of hazard zones such as flooding, earthquakes, and other environmental factors impacting the area. Some states might also mandate the disclosure of any violent crimes that have occurred in the property. While not all states enforce this, it is a prudent practice to adhere to. Consider what information you would find crucial when purchasing a home for yourself!

Disclosures help a buyer uncover essential details about a property before committing to a purchase.

Are you selling a great home in Kansas City? Don’t let minor repairs snowball into major problems. It’s common for unexpected issues to arise during inspections, potentially leading to a lower asking price. Your home is a complex system, and having a pre-sale inspection can help you identify and address any issues proactively. By making necessary repairs in advance, you demonstrate your commitment to selling a top-quality property. Show potential buyers that you care about the condition of your home. Contact Faithful Home Buyers KC LLC at 816-237-0869 to schedule a pre-sale inspection today.

Disclosure rules vary from state to state. Your agent, attorney, or broker will be able to provide you with a checklist that covers the requirements for MO. Review the list thoroughly and include detailed notes. Remember to document the dates of any upgrades and repairs. Fill out the form truthfully and comprehensively. For any inquiries, it is advisable to consult a lawyer instead of your agent. Agents may avoid certain questions that are beyond their scope to reduce their liability.

Remember, in the world of real estate in Kansas City, MO you can get sued for being dishonest.

Should you be found liable, you may be responsible for covering repair costs, legal fees, punitive damages, and in certain situations, the sale could be reversed. It is crucial to partner with a reputable professional to navigate through real estate disclosures.

Are you selling your home in Kansas City? If you have questions, we have answers! Fill out this form, or give our office a call now! 816-237-0869

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