Main Line Homes Blog

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Do I need to disclose that?

In Pennsylvania all homes sold require a seller disclosure, including homes sold on Philadelphia's Main Line whether sold by a Realtor/Broker or a For Sale by Owner. As seen here in the preamble for the seller disclosure form a seller must disclose all known material defects that are not readily observable.seller disclosure preamble

 

As you can see, even if you are an exempt Philadelphia Main Line home seller you are obligated to complete the form even if you have never occupied the property. There are a few instances that do not require a Seller Disclosure as noted below. 

seller disclosure exemptions PAThe form allows Not Applicable and Don't Know answers, but the first few questions are about who is completing the form, so these can be answered by anyone, but many sellers just leave the form completely blank. As a Main Line Realtor this is not in the best interests of your buyers. In fact as a Main Line Realtor it is not in the best interests of your sellers either as they leave themselves open to a law suit. In fact no question should have a blank answer.

I have sat in numerous classes with attorneys who recommend over and over again, if in doubt disclose.

When a client begins to ask "Do I need to disclose....?" My answer is, the shear fact you are asking the answer is yes, disclose, disclose, disclose.

It is far better for a seller to be completely transparent than for a buyer to "DISCOVER" something which makes them feel the seller knew all along. Then they begin to think what else are they hiding, and want to get out of the deal.

The Pennsylvania Agreement of Sale even has a space for the buyer to acknowledge they have seen the Seller Disclosure Form.

So,before you sell your Main Line Home complete that form as fully as you can, even if it is Don't Know answers. As a buyer of a Main Line Home ask for that form to be fully completed. If in doubt contact an attorney for clarification.

If you are buying or selling on or around Tredyffrin Easttown or along the Main Line we can help you,  contact us or connect

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