In today’s market, it is “Seller Beware!” not “Buyer Beware!”  In order to insure that you fully and adequately protect yourself when selling your home, you should disclose everything you know about your property, allow a buyer to inspect the property and then repair any damage to the home.  We also recommend that you purchase a one-year home warranty, which covers repairs on mechanical (heating and cooling), plumbing, pool equipment, built-in appliances, etc.  When you sign a purchase contract ,you are guaranteeing that all of these items (the major systems) are in working condition.  The home warranty is just one more level of security for your buyer.

The Seller Property Disclosure Statement (SPDS) is a document that is given to a homeowner when they decide to place their house on the market.  As a seller, the law obliges you to disclose all known material facts about your property to a buyer and the SPDS is designed to assist you in making this disclosure.  It is a fairly detailed questionnaire to be completed by the seller, not the agent, and will be presented to the buyer within 5 days of contract acceptance, unless otherwise specified. 

The SPDS is not a representation of every possible defect of the property or a warranty of any kind.  The buyer will be requested to sign the document and, by doing so, acknowledge that they have received the SPDS and the information contained therein.  It is important to know that when the buyer signs the SPDS, they are in no way accepting any aspects of the condition of the property or agreeing to accept any defect or condition noted on the form.  It becomes the Buyer’s responsibility to investigate any material fact with regard to the property to their own satisfaction.