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Reason 31 - Your Agent Helps You Around With Distribute Disclosure Packages
The historical value of property is an important aspect that buyers should seriously investigate. In the past, buyers do not make this particular detail much of an issue, but today sellers are mostly required to provide copies of “Distribute Disclosure Packages.”
Professional sellers give efforts in formulating an honest-to-goodness disclosure packages to establish transparency of the “for sale” property, and therefore convinced buyers of its authenticity.
An important part of the disclosure package revolves around information on past issues that are either serious or trivial. All these will be documented and presented in the disclosure package as required by law.
If you are a seller, don’t miss to include all the needed information that your buyer may want to know (for examples: the historical details on flooded basement in the past; the year the property undergone renovation, among others).
This disclosure document should be ready anytime a buyer demands for it. Make sure to include particulars about the problems encountered by previous owners regarding neighborhood disturbance, the property’s ownership legalities, if it is owned commonly or shared by different title holders or owners, or most importantly, if the property was used for illegal purposes like drug operations.
Although the negative history, if there are any, may initially discouraged some potential buyers, it should be explained very well in the disclosure papers how the property has been cleared of some negative past and that these problems have already been resolved. Failure to disclose complete information to buyers is punishable by law. Most buyers of today are aware of this already.
Thus, property sellers as well as realtors made this detail on the most important thing to comply, before putting a property in the market. Please note that the “Distribute Disclosure Package” should get a patent.
A patent is a set of exclusive right that is granted to the inventor for a duly declared period. Different countries have their own requirement and implementing rules and regulations on intellectual property rights issues, where patent is one of the components.
However, in an event that a buyer is not satisfied on what is disclosed in the Property Disclosure Form, the buyer may consult professional service-from-home inspectors. It is the duty of the inspector to carefully calculate the property very well and document it properly at the disposal of both seller and the buyer.
Buy, Sell, Rent, Invest, In Singapore
Billy Chen
CEA Registration Number : R029372I
Tel: (+65) 88689999
Fax: (+65) 64021826
billy@billychen71.com
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