Resources for Selling Your Home Yourself

Fair Housing Law

As a seller you need to be familiar with The Fair Housing Act of 1968. This prohibits discrimination in the sale, rental and financing of dwellings based on race, color, religion, sex or national origin, disability or on familial status (presence of child under age of 18, and pregnant women). This also applies to any advertising. For more information visit http://www.hud.gov/

You Have a Right to Know

According to the 2004 National Association of REALTORS Profile of Homebuyers and Sellers, the average FSBO (for sale by owner) home sold for 13% less than homes sold by a real estate agent. Maybe that's because only 9% of homebuyers purchased a home directly from the previous owner. 77% of buyers chose to use a real estate agent or broker. (In case you're wondering - that other 12% bought directly from a builder.)

So, if you're worried about why you haven't sold you home yet, thinking that maybe you should spring for new stainless steel appliances, 0r add a whirlpool spa to your master bath, or maybe take out a bigger, more expensive ad in the newspaper - put away your credit card. It's probably just that you're not one of the lucky 9% whose home sold without the professional services of a REALTOR.

Mandatory Disclosures

Sinkhole Disclosure

Effective June 1, 2005, sellers of commercial and residential real property (real estate) for which an insurance clam for sinkhole damage was made must disclose to buyers the following:

1.That a sinkhole claim was paid

2. Whether the full amount of the proceeds were used to repair the sinkhole damage

The law does not specify the type of disclosure (written oor verbal) or when to make the disclosure, according to the Pinellas Realtor Organization July 2005 update.

State Property Insurance Law CS/SB 1486

Mold and Radon Gas Disclosure

Additional disclosures include mold and radon gas. Property Dislosures are also being used today, as an aid in complying with the state law that requires sellers to notify buyers of anything that could materially affect the value of the property. Contact me at davidmoultrie@realtyexecutives.com for more information on these disclosures.

Home Built Before 1978?

Federal law requires a lead paint disclosure for all residential properties built prior to 1978. This disclosure is required to be made by sellers, landlords, and real estate agents. You can download the brochure that must provided to buyers, along with other information at http://www.hud.gov/offices/lead/index.cfm IMPORTANT: Failure to provide required disclosures to the buyer may make the contract invalid as well as making you subject to fines. The EPA and HUD are authorized to fine up to $11,000 per violation. Consult your real estate attorney if you did not provide disclosures and the home is currently under contract.


	Copyright © 2009 by eWeb Engine, Inc.