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Seller Disclosure Requirements For Massachusetts Properties

When selling listings, home owners and brokers have a specific requirement to disclose everything known about a residence. The majority of legal battles pertain to home buyers suspecting that a seller intentionally hid details. The following are seller disclosure requirements for Massachusetts properties.

Why Sellers Must Disclose

Disclosure is crucial. In minor cases, not disclosing facts about a residence might simply result in a party spending more money addressing an issue. In more serious cases, it may lead to bodily injury. There was one instance where a heating system problem resulted in the death of the new home owners and to the seller receiving a jail sentence for manslaughter. Sellers often assume that disclosing certain facts influences the ability to sell or the sale price, but hiding issues may lead to more severe repercussions.

How to Disclose

Sellers can use specific forms for reporting facts on a home. It may also be included in Purchase and Sales agreements. Reporting all issues, even resolved issues, is the safest way to transfer real estate. Buyers will probably uncover the problems anyway after inspections, after they move in, or when speaking to neighbors. Additionally, buyers commonly negotiate repairs differently when they discover a problem themselves than if known prior to making an offer. To help facilitate disclosure, maintain receipts from purchases or contract work.

Seller Disclosure Requirements For Massachusetts Properties

Being forthcoming about issues in a property leads to a smoother sale and protects against issues after closing. Sellers need not disclose personal facts such as the motivation to sell, but must provide everything in their knowledge about the property itself. This article with seller disclosure requirements for Massachusetts properties was written by Christopher Graves at Sierra Pacific Mortgage Company and is intended as an overview. For more recommendations on listing a property, contact Christopher at 978-376-5389 or christopher.d.graves@gmail.com.

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About Chris Graves

I grew up in Massachusetts, spent the majority of my young adult life in Boston, and own a home in Windham NH. I have owned properties in MA and NH. I specialize in mortgage lending in Massachusetts and New Hampshire and my company does have the ability to lend in other states. I graduated from the University of Massachusetts in Amherst Massachusetts in 2002. I have a Bachelor’s in Science. In addition to managing a team of loan officers my personal loan production is always in the top of the entire of company. I have personally been in the mortgage business for over 13 years. I pride myself with taking my clients from application to close in the smoothest and quickest way possible, while keeping them well informed during the entire process. I originate my own loans from start to finish and work hand in hand with my loan processors & underwriters to make sure I am updated to the minute with all of my files. I stay up to date with lending guidelines and speak with underwriters on a daily basis to ensure I am aware of all of the lending guidelines in place.

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