Disclosure is Necessary in Real Estate Law for Commercial and Residential Properties

As a realtor, you’ve probably experienced some properties that were nearly impossible to unload. Something about the house kept the buyers away and you struggled with selling it. In some cases, you might have considered not disclosing an item just to close the deal. The problem is this could have resulted in a legal hassle with a Palm Springs real estate lawyer. Instead, SBEMP would like to review some of the important things to disclose so the selling process is easier for you.

A Death on the Property

In a recent Investopedia article, this disclosure was listed at the top even when there is no obligation to disclose this information. Some people won’t even bat an eye to learn someone died in their home or commercial property. Others wouldn’t even consider a home if they were given this information in advance. This is especially the case when the death was the result of anything besides natural causes, such as murder or suicide.

Commercial property owners may also want to know this information to determine any hazards in the area that caused a death in previous years.

Environmental and Natural Hazards

Is the property more at risk for a potential hazard than others in the area would be? You need to let the buyer know. Regardless of what it means for the sale, you need to put the safety of a client first.

Annoyances

Is there a factory around the corner that drones on from sun up until sun down? Is there a raw sewage plant that is aromatic during the summer heat in the area? You need to disclose these items to your client so they can make an informed decision.

If you are a commercial property buyer and consider running a spa in an area, you will want to be sure the location is free of noise and odd smells.

Hiring a Trusted Palm Springs Real Estate Attorney

When you disclose items to your client, make sure you speak with a Palm Springs real estate attorney first. At SBEMP, we can help to ensure that you disclose everything you are legally required to. This is done in a manner that the client cannot come back later on and sue you for non disclosure. Everything is done by the books so you can have some peace of mind.