What should be shared prior to offer being received?

Status: Open
Jul 24, 2023 Views684 Answer a Question

What information should be provided to potential buyer? Should Surveys, elevation certificates, etc be provided if a contract hasn’t been signed for the sale?

Asked by
Consumer
Categories:
Home Selling
About 1 week ago
In Texas, providing surveys and elevation certificates to potential buyers before a contract is signed can be beneficial but is not mandatory. These documents provide valuable information about the property, such as its boundaries and its risk of flooding. However, the decision to provide these documents may depend on the specific circumstances of the sale. The Option Period provides a safety net for buyers, allowing them to back out of the contract if they discover issues with the property. It also provides an opportunity for negotiation between the buyer and seller.
source:
Realtor.com
About 6 months ago
The contract is very thorough on deadlines and thus it is a good general guide about what should be done when and or by whom in a transaction.
About 8 months ago
When selling a property, providing certain information to potential buyers can help build trust and transparency in the transaction. However, the extent of the information you provide might vary depending on the stage of the sale process and local regulations.
About 9 months ago
Beatriz! Great question; it's always a great idea to ask questions to be properly prepared as a seller! There aren't any documents that absolutely MUST be provided to a buyer prior to their offer, because a contract may stipulate timeframes/deadlines to provide these to a buyer once a contract offer has been accepted. However, it is often times a great idea to have the following things ready as a prepared seller: 1. Most importantly, a Seller's Disclosure Notice. This document displays a current owner's knowledge about the property they are selling. This document will not be required for estate sales, foreclosures, and never lived in newly constructed homes. 2. If there is a current survey for the property, you can, but may not be required to, provide it to a buyer along with a t47 affidavit. These documents will respectfully show a buyer the property lines, any easements, encroachments, etc. for a property as well as informing the buyer of any changes to the property since the survey was done. 3. If the property was built before 1978, you will want to provide a disclosure of lead based paint document. This is because properties built prior to 1978 had the possibility of being painted using paint that had lead in it. A seller is able to inform a buyer whether or not they have any knowledge of any lead based paint in the home or have had any inspections for lead based paint on the home. These are the most common, but a great real estate agent could guide you on any and all further necessities or non essential items for your upcoming sale! Best of luck with it! If you have any other questions, feel free to reach out! codysellsproperty@gmail.com 346-412-6603
Disclaimer: Answers provided are just opinions and should not be accepted as advice.
Advertisement
Find a Local Expert Real Estate Agent in your Area
Start your real estate search the right way by finding the best agent to work with in your area.

Related Questions