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AN OFFER - SAFEGUARDS REGARDING THE PROPERTY
from the seller
have toured the property, looked at the walls and ceiling, turned
on the faucets and played with the light switches, you have not
lived in it. The seller has years of knowledge about his or her
home and there may be some things you want to find out about as
quickly as possible. For this reason, you will require certain disclosures
as part of your offer.
you want the seller to disclose any adverse conditions that may
have a substantial impact on your decision to purchase the home.
This would include any problems with the house, whether the property
is in a flood zone, a noise zone, or any other kind of hazardous
If you have
an agent representing you, this is almost automatic, but many states
do not require individuals selling their own home to provide you
with this information. Often they do not require banks selling foreclosed
property to provide these disclosures, either. Obtaining these types
of disclosures should always be a part of your offer, and time is
of the essence.