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Damage, Hazards And Faulty Systems Common issues that require disclosures include anything that may cause major foundation issues to a property or endanger a prospective buyer or the integrity of the house. These issues and hazards include: Water damage. Cracks in the foundation.
Massachusetts has a relatively light disclosure requirement. It is often referred to as a caveat emptor regime, or in plain English buyer beware. The two main disclosure requirements are confined to whether there has been lead paint used anywhere in the property and whether there is a septic system installed. Required Home Disclosures When Selling A Property in Massachusetts muccilegal.com required-home-disclosures muccilegal.com required-home-disclosures
An agency relationship is formed when the agent and a buyer or seller sign an agency disclosure or agreement form. In many cases, the client does not legally have to agree to sign anything. The agreement or disclosure states that the agent is acting on behalf and in the best interest of the client. Agency Relationships in Real Estate: What You Need to Know theceshop.com agent-essentials blog ag theceshop.com agent-essentials blog ag
What must be disclosed? Under California law, all material facts that affect the value or desirability of the property must be disclosed to the buyer. There is no specific definition or rule on what is considered to be a material fact.
This means that the real estate agent represents the seller. The agent owes the seller undivided loyalty, reasonable care, disclosure, obedience to lawful instruction, confidentiality and accountability, provided, however, that the agent must disclose known material defects in the real estate. NEW-Mandatory-Licensee-Consumer-Disclosure.pdf berkshirerealtors.net uploads 2013/08 berkshirerealtors.net uploads 2013/08 PDF
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Although a disclosure statement is not required, the state does mandate the disclosure of two types of information to any prospective buyer: the existence and hazards of lead paint, and the presence of a septic system on the property. Sellers in Massachusetts must disclose the presence of lead to prospective buyers.
The answer is only residential properties. Most seller property disclosures are required for only residential properties.
Some states are more stringent than others when it comes to revealing issues. For example, in Massachusetts, home sellers are not required to disclose known problems with a home unless asked a direct question by a buyer. This is called Caveat Emptor or let the buyer beware. Sellers Disclosure: What to Disclose Selling Real Estate maxrealestateexposure.com what-disclose- maxrealestateexposure.com what-disclose-

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