Disclose, Disclose, Disclose!

I have never seen any issues from over disclosing, but I have seen plenty from under disclosing.Happy Friday Red Rock Agents,

It’s near the middle of February and the Weather is changing a little, but the market is not so much. With the Parade of Homes going on and the long weekend lots and lots of people will be in town. Some may even be buyers.

I have had a few interesting questions this week I want to share with you. If a seller has owned the property less than 1 year would it be prudent to include the SPCD from when they purchased the property? Then fill out another one for the time they owned it. Yes, I believe that it would be in the seller’s best interest to include the last one with theirs. Remember the adage “Disclose, Disclose, Disclose”! I have never seen any issues from over disclosing, but I have seen plenty from under disclosing.

Not sure how many of you are friends with the WCBR Facebook page, if not you should be. The Utah Central AE is named Peter Christensen and is also an Attorney. He puts out some great information in sort of a podcast format. This is what he went over today that I found interesting. The buyer's agent put in an addendum that the buyer will pay $10k over appraised value. Does that mean the seller is willing to adjust the price? Let’s look at it like this. List price is 350k and the offer comes in at 360k with the addendum stating that the buyer will pay the 10k over appraised value. Next the appraisal comes in at 330k will that force the seller to change the price to 340k? Be very much aware and be sure to clearly understand what the terms are before you have a client accept anything. In other words, BE SPECIFIC with what you put in an addendum and, if possible, reference the section of the REPC it changes. If you have questions, please ask. Office will be open on Monday. Tighten up your chin strap it could be a bumpy weekend.

Please have a great weekend and be safe out there,

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