Is there such a thing as too much disclosure for young homebuyers?
Q: How much needs to be disclosed when selling a home? I built this home 35 years ago, so I know a lot about what needs doing, but I have noticed that young buyers have no idea what it takes to maintain a house. What if I give them a list of 40 to 50 projects that I think will need doing over the next decade or more frequently? E.g., replace hot water recirculating pipes capped off due to leaks, replace parts of trellis on the south side of the house, replace cracked tiles in the floor, replace French doors on the upper deck in five years, clean chimney every two years, exterior painting in two years, improve lighting on the entry path, repair lifting concrete on the entry path, replace garage door in five years, improve drainage at the front of garage (water gets in during rain), plus 30 to 40 more similar items. Is that too much?
A: Not if you take savvy control of the pace and placements of each issue you describe under their respective categories: maintenance, repairs, corrections and suggested improvements. You’ll have many opportunities to deftly weave in your pride-ofownership comments and disclosures in the bevy of home seller questionnaires. Consider the opening Seller Awareness section of the California Association of Realtors’ Seller Property Questionnaire form (SPQ), which asks the seller if there was a death on the property within the last three years. Most California real estate attorneys will agree it’s prudent to disclose a death that occurred seven or 17 years ago. Otherwise, new homebuyers will eventually learn about deaths on the property via neighbors. Buyers don’t like surprises. Due to that fact, homebuyers with real or imagined problems file over 90 percent of California residential real estate claims. All the more reason home sellers should engage termite, wholehouse, roof and chimney inspectors to augment full disclosure and action plans. I always urge home sellers to make as many repairs as possible before a buyer sets foot on the property. Wellcrafted presale full disclosure enhances value and goodwill. Postsale secondhand disclosures by way of neighbors and local tradespeople incite bad will. Choose the former, it “pays” better.