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Disclosures: What You Need to Know

The purchase of a home requires that you, the seller, fully disclose what you know about the home and its condition. In the state of Washington, the seller is required to provide these disclosures within a specified time period. The buyer likewise must timely acknowledge receipt of said disclosures. If you, the seller, do not comply with timely disclosure, the buyer can rescind his offer to purchase up to the day of closing! In that event, you will have entered into an agreement only to have it legally removed after you have turned away other potential buyers when you thought the sale to the first buyer was sailing along toward an anticipated closing!

Additionally, there’s substantial long-term risk to you, the seller, if a buyer feels that you did not disclose some existing property conditions! Protect your interests by making proper written disclosures and by obtaining the buyers’ signatures acknowledging their receipt of your complete written property disclosures. Failing this, ask the buyers to sign a waiver relinquishing that right and provide them with a form for doing so.

The disclosure forms you will need (whether you are selling a home or vacant land in Bellingham/Whatcom County) are available from me. They have changed in the past two months; thus, the forms you had if you had previously listed your home with a Realtor are no longer applicable and will need to be completed again (ugh!) on the newest forms. Simply call or email me and I will be happy to provide them to you--at no cost or obligation. Really!

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