Q:

How do real estate agents use the history of a home's previous owners?

A:

Quick Answer

A licensedrealtor uses the history of a home's previous owner to the extent as it pertains to the sale of a home in accordance with the state's required disclosure laws, according to the Nolo law website. Disclosures required by law addressissues that can affect the property's value or desirability.

Continue Reading

Full Answer

Disclosures or previous home owner's history is required to some extent when selling a home. State laws on property disclosures vary. For instance, in the state of California, sellers must disclose neighborhood nuisances such as barking dogs, potential hazards such as earthquakes and information on sex offenders in the area. The information is generally related to liability and is based on the owner's basic knowledge. Other information, such as deaths at the property or insurance claims on the home can be obtained by public record or insurance claim reports. Information provided to a realtor that does not qualify as a safety, health or other required disclosure can be used to sell the home and that information may or may not be shared among parties depending on the contract that the agent has with the client and who the agent represents duringthe sale. Most states require special disclosure forms as part of a sale. In order to ensure proper disclosure agreements for a certain state, the Nolo website advises sellers tocheck with the real estate agent, a real estate attorney or the state department of real estate.

Learn more about Real Estate
Sources:

Related Questions

Explore