Seller’s Property Disclosures in Colorado Real Estate
In Fort Collins real estate, and in the state of Colorado, Seller’s Property Disclosures are designed to let a buyer know the details of the condition of the property they may purchase. The Seller’s Property Disclosure is filled out by the seller. Now, truth be told, even the most in touch homeowner probably won’t be able to answer all the questions on the the official Seller’s Property Disclosure that is created by the Colorado Real Estate Commission. If you’ve filled one out, you probably understand what I’m talking about. The most recent form created by the state of Colorado was changed, and it has made it a bit easier to fill out. It used to have three options to check: ‘Yes,’ ‘No,‘ and ‘Don’t Know.‘ It caused some confusion. As for the new form, when it comes to my fellow Realtors®, some love it and some hate it. That’s about par for the course. The new form simply asks the seller to answer ‘Yes’ if they know that there is something wrong with any particular part of the property. See a copy of the Seller’s Property Disclosure here. Further, the Seller’s Property Disclosure is optional. It is my preference that it be filled out on all the homes I am listing, because I believe that transparency and authenticity are so important…in real estate and in other parts of our lives. It will come up. Trying to hide an element of the home you are selling that isn’t operating properly is, in my opinion, a very bad move. Further, it is a move that I want no part of. I want to engage only in square, honest deals, and it is my pleasure to help property owners identify the true condition of their property, and either fix it, or sell it as is. If you try to hide it, my guess is that it will come up. The people who will buy your property are going to spend a pretty penny on it, and during the sales process have the right to inspect every square inch of it. If they make an offer only to find that you were less than forthcoming about its condition, that could kill the deal, and might really hurt your ability to sell. So, when it comes to the Seller’s Property Disclosure, my best advice is to willingly and honestly fill it out. When I am your Realtor® I’ll help you with it, answer questions, and after we determine the true condition of the property, we’ll use that information to position it so that we have the best chance of success.