Most homeowners know that when they sell a home, they are required to disclose what they know about it and the surrounding area. In Los Altos and Los Altos Hills, some common disclosures about a property include wildlife, community walking paths, cell phone towers, parties, parking issues, and drainage. All of these constitute what the homeowner knows about the property. However, will they have to someday disclose what they don't know about the property? Do you need to know about some undocumented upgrade done by another homeowner 15 years ago?
If every homeowner has to disclose what they don't know, how do you know what you missed? How do you know what you don't know? With the advent of digital records, homeowners and agents have access to reports from years ago. The sale of a Los Altos home 10 years ago will still have records available. A homeowner may not be able to claim ignorance of a report done by a previous owner in the past. Just as with old CC&Rs, you may be required to disclose things you've never read or heard about. If you know the old agent and could get reports from 10 or 20 years ago, you may someday be required to bring them forward.
As the law stands right now, you're required to disclose anything you know. That begs the question: Is it right to be compelled to disclose something you don't know but may be available? In my opinion, no. However, that may not matter with the availability of transaction records and reports. While not the norm now, it could be in the future. As a safeguard, I recommend you keep records available and anything having to do with the sale or purchase of a home should be kept forever. If you don't like having tons of paperwork, scan the documents and keep digital copies.
If you're considering selling a home, make an extra effort to document everything you know and everything you've heard about the property and surround area. Selling a home in Los Altos or Los Altos Hills is a major undertaking. To protect yourself from liability, document and disclose absolutely anything and make sure you disclose any old reports no matter how old.
If you have enjoyed reading my blog, please subscribe HERE!
Want to know more about me? Just Google Me!
Bryan Robertson, Broker Associate | T: 650.799.9951 | Email: bryan@serenogroup.com | Website: http://www.BryanRobertsonHomes.com |CA License: 01191946 | Sereno Group - Los Altos branch | 369 S. San Antonio Road | Los Altos, CA 94022
Find Me Online!
Recent Articles from Bryan's Blog
Los Altos Neighborhood Tour - Old Los Altos
Los Altos Neighborhood Tour - Rancho
