I heard someone say today that a "good" agent would fill out the Seller's Disclosure Notice "for" the seller. Another person said agents should fill out the disclosure notice "with" the seller. I completely disagree with both of these statements.
The Seller's Disclosure Notice is for the SELLER to disclose what the seller knows about the property. How can I fill that out for them? Also, if I don't know pertinant facts first hand about the property, what good does it do to fill it out with them?
There are several different disclosure forms in Texas and not everyone uses the same form. Some sellers disclose "water penetration" as the toilet overflowed and they mopped the floor, or called roto-rooter. Others think water penetration is a roof leak or plumbing leak or something like that. I'm not going to tell a seller what they should or shouldn't disclose if the toilet overflowed. Some buyers chuckle when they see that disclosed, while others think it's good to know to double check the plumbing. We all know there are many reasons why a toilet can overflow, and if you have kids, there are many more reasons why...
I tell my sellers to fill out the form in a way that nothing could come back to bite them in the arse. They need to let buyers know exactly what they know, period, the end. It's their responsibility, not mine.
Also, look at it this way, if I were to fill out the form in my handwriting, or just sitting there with them, and a buyer wants to sue for information (or lack there of), the seller could point all their fingers at me saying, "my agent told me this and that." NOT GOING TO HAPPEN!!
My job is to facilitate the form being filled out, but not filling it out for them.
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Copyright© 2013 By Donna Harris, All Rights Reserved. You may re-blog with links back to this post.
*Sellers Should Complete the Seller's Disclosure Notice, Not the Agent* was first published on donnahomesblog.com.