For Sale By Owner need to have disclosure forms by state law

You can sell your own home as a For Sale By Own but you have to abide by the state laws that govern the sale of real estate in Michigan.  Michigan has some other state specific requirements when selling real estate and of course big brother the Federal Government has the lead based paint disclosure that also has to be filled out and given to buyers.  The heart of the lead based paint act covers properties that were built before 1978.

You do not have to give disclosures to every person that views your home but if you have a real buyer and they ask for disclosures you will certainly want to provide them.  Here is were the rub comes for many sellers.  They do not understand the importance of the disclosure act.  The questions asked are very basic but can create as many questions as they do answers.  The best way to limit your liability...yes I said liability is to answer each question to the best of your knowledge and not side step an answer that you think could hurt your chances for a sale.  That could cause you to end up in court and legal fees may be more than the discount for the repair you have been putting off.

One of the question is what type of insulation do you have?  Unless you know....it is best to put unknown.  Just like the next question....is there any Urea formaldehyde insulation (UFFI) installed?  I would bet your best answer would be unknown unless you have had someone test your insulation.  Another question asked the diameter of your well if you have a well.  Most home owners could not answer that question if you beat them with a hose!

So disclosures require honesty and some thought concerning your answers.  Another question is Roof Leaks?  if the answer is only when it rains, you may have a problem that needs to be repaired!  If you know it leaks but answer no you are committing fraud by not disclosing the roof leak.

Disclosures are very serious business and a required part of the sale of real estate for a reason.  Ever hear about that nice green water front property in Florida?  Well years ago a guy sold so much swamp that could not be built on that the Florida laws and inter state real estate laws were changed because of it!  Then the next guy that came along sold vacation property in a nice arid climate great for people with asthma, the only hitch...it was desert and not water for a 100 miles in any direction.  Wasn't worth much but the brochures sure made it look good.  Another reason for disclosures.  In Michigan not all that long ago we had people selling land that you could not build on because you could not put in a septic field.  The term perk became a word to look for and a test to see how the ground saturation of water came into being.

You can sell your home and save thousand of dollars in commissions and I even offer high powered programs to help you do it...but you still have to fill out the disclosures to meet the legal requirements of the State of Michigan when you sell real estate.

If you have any questions or would like a copy of disclosure forms....send me an email: FlexItRealty@comcast.net or you can give me a Toll Free Call:  877-667-4699 and if we are serving others or out of the office just leave your name and phone number and we will call you back.  You can also leave your address and the form you need and we will email them or drop them in the mail free of charge.

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Thanks for considering FlexIt Realty.