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The Business of Real Estate

Disclose all about your home — a great Austin example


I don’t usually pay much attention to our celebrity culture, but this article in the business section of yesterday’s Austin American-Statesman caught my eye:

Quaid, wife sue to void purchase of Austin home

Anyone who has been in the real estate business is well aware of the requirement to “disclose, disclose, disclose” everything you know or think you know about the condition of your home when selling.  Not only is it the right thing to do, but it is the best protection against this kind of horrible surprise.

Dennis and Kimberly Quaid purchased their home on the shore of Lake Austin in February of this year.  Apparently, they have encountered many things about the house that they wish they had known sooner.  Since I have no knowledge of the facts of the case I won’t comment on whether the case has merit, but picture yourself — 9 months after you sold your home and moved on with your life — being faced with this kind of lawsuit.

Will they have to return the proceeds of the sale?  Possibly.  Will they spend a lot of money on legal fees to get through this?  Almost certainly.

Sure, home buyers should do their own due diligence — property inspections, etc. — but as a seller, there is no substitute for being absolutely meticulous in preparing your disclosure notice prior to putting your home on the market.

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About Bill Morris, Realtor

More than thirty years of business experience (high tech, client service, business organization and start-up, including many years in real estate) tell me that service is the key to success and I look forward to serving you. I represent both buyers and sellers throughout the Austin metropolitan area, which means first-hand market knowledge is brought to bear on serving your needs: -- Seller Representation is a comprehensive process that begins with thorough market analysis and consultation, continues with properly staging the home to achieve the highest price possible in a reasonable time on market, a complete program of marketing and promotion, ongoing updates and communication, closing coordination, and follow-up throughout (and after) the sale. -- Buyer Representation is also full service: shopping, previewing, price and market consultation, contracting, negotiating, coordination of inspections, appraisals, repairs, and closing details, and follow-up beyond the closing of your purchase to ensure your lasting satisfaction. Because the real estate industry is becoming more sophisticated and challenging every day, you need a professional that understands the industry and is positioned to stay ahead of the game. I go the extra mile to help you achieve your goals. That's why I constantly research the market and property values so your home is priced effectively from day one. I also make sure the public knows your home is for sale by using innovative advertising and marketing techniques to attract potential buyers.

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