REAL ESTATE O: We are beginning the process of selling our home and our agent has asked us to fill in an extensive packet of Disclosures. Do we need Dick Phelps to and are there things we must disclose and things we do not have to disclose? A. The purpose of these Disclosures is to reveal to a prospective buyer material facts that may affect their use and enjoyment of the home or property. This process is a requirement by law even if you are selling FSBO. These disclosures will ask for you to report the age and condition of the structure itself along with condition of items included such as furnace, AC, and appliances for example. If you have not lived in the home as in the situation of being an executor with the responsibility of selling a home or heir, you may choose to use an Alternative to Disclosure in which case you declare you have no knowledge of the age and conditions and recommend that the buyer have a third-party inspect the home. Even if you choose the Alternative Disclosures, there are some items that still need to be disclosed. Your agent can assist you with these. On a side note, there is information that is exempt from disclosure. An example of this would be disclosing if a person died in the home by suicide, natural causes, or accidental causes. Murder on the other hand would have to be disclosed. For protection from liability, the best practice is "When in doubt, disclose". Centuy For Questions Contact: Dick Phelps 218-766-5263 erphelps@century21dickinson.com DICKINSON REALTORS REAL ESTATE O: We are beginning the process of selling our home and our agent has asked us to fill in an extensive packet of Disclosures. Do we need Dick Phelps to and are there things we must disclose and things we do not have to disclose? A. The purpose of these Disclosures is to reveal to a prospective buyer material facts that may affect their use and enjoyment of the home or property. This process is a requirement by law even if you are selling FSBO. These disclosures will ask for you to report the age and condition of the structure itself along with condition of items included such as furnace, AC, and appliances for example. If you have not lived in the home as in the situation of being an executor with the responsibility of selling a home or heir, you may choose to use an Alternative to Disclosure in which case you declare you have no knowledge of the age and conditions and recommend that the buyer have a third-party inspect the home. Even if you choose the Alternative Disclosures, there are some items that still need to be disclosed. Your agent can assist you with these. On a side note, there is information that is exempt from disclosure. An example of this would be disclosing if a person died in the home by suicide, natural causes, or accidental causes. Murder on the other hand would have to be disclosed. For protection from liability, the best practice is "When in doubt, disclose". Centuy For Questions Contact: Dick Phelps 218-766-5263 erphelps@century21dickinson.com DICKINSON REALTORS