Friday, July 30, 2010

Asked to sign a disclosure on a house we are having built. Need advice about resale!?

There was a firecracker lit off in our basement of the house we are having built. Luckily it didn't burn down. But the had to replace the pit in the basement and the whole house smells like smoke (no drywall up yet, only wood). So they want us to sign a disclosure about the incident. I am concerned about resale and how if we sign this it will affect us.Asked to sign a disclosure on a house we are having built. Need advice about resale!?
As long as you fixed the damage you should be ok. Ask your realtor to explain it to you, or look it up on a site that covers the laws in your state. Disclosure is where you are telling the buyer of problems with your house. Its the law in most states. Asking your realtor is your best bet. If you don't have a realtor maybe someone you know is knowledgable about your state's laws, but a realtor is your best and safest bet. Also I'm not sure who is asking you to sign this disclosure. Be careful with this.Asked to sign a disclosure on a house we are having built. Need advice about resale!?
Make sure that you have your attorney look at the disclosure before you sign. It may just be a statement about the firecracker going off in the basement.





Just be aware of what you are signing.
In NY this disclosure is required by law. I wouldn't worry about it. If you building over a closed garbage dump that might be a problem

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