By Britney Bown | Escrow Officer | Union Heights Office
DISCLOSURE! DISCLOSURE! DISCLOSURE! Such a popular word we hear in all aspects of our industry, right? There is one document to highlight that is very important in real estate transactions and that is the seller’s disclosures. In this document, the seller is obligated under law to disclose to buyers any defects in the property that could adversely affect the value of the property. For instance, if the property is part of a Home Owner’s Association then this section will provide the name and contact information. It is recommended that you call to find out beforehand if there will be monthly, quarterly, or annual dues. Most importantly if there are any upfront fees that need to be collected from the buyer at closing. It is good practice to provide these disclosures to the title agent as reference because once the seller signs these disclosures they can be used as authorization to request information from the association.