Although Massachusetts is a “buyer beware” state, meaning there is not a whole lot home sellers are legally required to disclose to the buyers looking for best real estate in Back Bay, Boston - when selling property, there are still a few disclosure obligations for sellers that they should be aware of.
Existence of lead paint – If you are planning to sell a home that was built before 1978, you or your real estate agent must notify buyers (whose offer you have accepted) about the dangers of lead paint through “Property Transfer Notification Certification.” This notification has to be passed before the two parties enter into a formal, lengthy purchase and sale agreement that eventually replaces the offer contract with which the deal gets started. Buyers are alerted through the notification that they are free to carry out an independent risk assessment - inside 10 days of receiving it.
Presence of a septic system - Title 5 of the Massachusetts State Environmental Code obligates sellers to inform buyers looking for condos for sale in Back Bay Boston about a septic system. In addition to that, the code requires that the system needs to be inspected by an approved inspector within the 2 years before the sale or 6 months after the sale if conditions, such as frozen ground or any other problem prevents an earlier inspection. The results of the inspection are shared not only with the buyer, but also the local board of health. The law does not specify who is responsible for the inspection; however, it is generally done by sellers.
Known defects - Sellers needto provide correct information if the buyer asks about any known defects, whether any repairs were made or need to be made. If a seller lies, hides the facts, provides vague statements or otherwise violates their duty to disclose, the buyer can bring a lawsuit for fraud, misrepresentation or breach of contract.
If you are selling your home for the first time or not aware of disclosure obligations in Massachusetts, it can help to have the guidance of a local real estate agent. Local real estate agents know their areas inside out. They are well-versed not just with the laws, but also precedents that have been set from previous deals made in the area. They can also assist with negotiations, which is sometimes essential to justify the asking price.
Author’s Bio – The author is an online blogger. This article is about few disclosure obligations for sellers in Massachusetts.
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Ryan Samual Joined: December 4th, 2015 Articles Posted: 37
