When it comes to selling a house, there is a lot of paperwork involved. One of the documents that sellers dread the most is the seller's disclosure because it asks a million questions about the property. For the buyer, it is an important document because the buyer will go over it carefully before they decide to close on a home. If the seller fails to complete it thoroughly, it could delay or prevent closing. So, here are a few tips that will help you complete the seller's disclosure document with ease:
Take the Time to Do Your Homework
You probably hated to do your homework in school, but it was necessary to get good grades. Well, when it comes to selling your home, it's necessary to do your homework in order to get a good buyer and a good price. Luckily, if you've recently purchased your home, then you probably have a document from having your home inspected. Grab that document because it can come in handy while your fill out your seller's disclosure document. As for everything that it won't help you with,you'll have to do some work to get the answers.
Make Sure You're as Accurate as Possible.
This document is going to ask you the age, type, make and model of many of the components in your home, such as the HVAC system, roof, plumbing, electrical, etc. It is important that you get these as correct as you can. When you purchased your home, you likely had an inspection conducted for insurance purposes. This inspection may be able to help you determine the type and age of many of these components that you otherwise wouldn't know, such as the electrical and plumbing. For example, this inspection may tell you that the electrical was three years old at the time of the inspection. If you purchased the home one year ago, then you can jot down that the electrical wiring is four years old.
Answer the Questions to the Best of Your Knowledge.
This is the absolute best that you can do. If there was an issue at some point in this, write it down. Provide as much accurate information as you can. Buyers will want to know when it happened, the extent of the damage and what type of repair was performed to remedy the issue.
Don't Be Vague in Your Answers.
The last thing a buyer wants to see on a seller's disclosure document is brief and vague answers, so make sure that you are clear in your answers. Avoid leaving any questions blank. In the end, this will only cause more reason for concern and could end up causing a buyer to back out of a deal. If a particular question is not applicable or you honestly do not know the answer, then simply notate that. Ultimately, a buyer is going to prefer you provide too much than not enough.
If you need help filling out your seller's disclosure document, speak to a company of real estate agents.