Disclosures Another mistake you should avoid is failing to give a buyer full disclosure. In normal circumstances, real estate deals have detailed disclosures. Some of these disclosures include structural or mechanical defects that the house may have developed while under the seller's ownership. Failing to provide the buyer with a Seller Disclosure Statement is required by law. Failing to furnish the buyer with such details might invalidate the contract and, in other cases, lead to monetary damages. The courts can force a seller to pay financial damages to the new house owner in such a case. For houses built before 1978, a seller must provide full disclosure on lead paint in particular. The Federal Government requires this form. It is called Protect Your Family From Lead In Your Home. This pamphlet must be given to the home buyer before they present their offer to you. You will need to contact The Environmental Protection Agency. (EPA). Failing to do so might result in legal action taken against the seller. The reason behind this is that before 1978, most houses were painted using paint that contained lead, which is poisonous. Therefore, a seller is supposed to provide full disclosure on the issue of lead paint to avoid potential health problems for the new owner. Another thing that most people forget is to register everybody who has viewed the property with the intention of buying it. Although this is not a legal requirement, it is good to keep a record of the people visiting the property so that it is possible to track them in case there are instances of theft or vandalism. Giving too much information is also discouraged when you are selling your property. Though it might be a good way of showing potential buyers how much you have invested in the property, giving too much information might give a potential buyer the wrong message. The buyer might think something is wrong with the property, or you are desperate to sell it. Therefore, you
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