If you are considering selling your property is probably already thought about the Sellers disclosure form and if you haven't, now would be the time. The Sellers disclosure form must state by law any material facts known by the seller about the property. State law declares certain facts that may be important to a buyer must be disclosed prior to final closing. However, certain acts such as death, crime, political or religious activity or any other act or occurrence that does not adversely affect the physical condition or title of the property is not required to be disclosed.
So, if there was a death in the property, natural, suicidal or homicidal, it is not required that the seller discloses information. Buyers should contact their local police for more information or do the research themselves to find out if the property has been the site of some undesirable activity.
Real estate agents or brokers cannot fill out the Sellers disclosure form themselves either. These forms must be filled out by the owner even if the owner does not live at the property currently or ever, such as a rental property. Certain material conditions including a lead-based paint, damage or home improvements must be disclosed to potential buyers. Material facts are commonly referred to as anything that would affect the buyers decision to purchase or the price and terms the buyer offers. If the seller has knowledge about a defect it must be disclosed.
Some states do require sellers to notify buyers if the death has occurred on the property within a certain amount of time but Oregon is not one of those states. However, some sellers disclose this information out of integrity and concern. Many home buyers are completely comfortable with a death occurring in the house as long as it was natural such as old age or an illness. However, sellers should be cautious when disclosing information about certain illnesses such as HIV or AIDS. AIDS falls into a protected class and could be subject to discrimination claims as well. "Under Oregon state law, neither the seller nor their real estate agent is allowed to disclose that an owner or occupant of the property has or had human immunodeficiency virus or acquired immune deficiency syndrome." This is one of those tricky and touchy subjects that should be dealt with on a case-by-case basis.
Read More: 3 Things Every Seller Should NEVER Do
Any repairs or damage to the home must be disclosed such as if the roof one fleet, the seller has paid for a replacement or repair and now it does not leak. This is simple information that should be disclosed to potential buyers. Seller should not disclose information if they are not 100% certain on the accuracy of the information.
Oregon has a several websites that homebuyers can visit in order to determine certain activities conducted on a property. While these resources may not be completely conducive, buyers should be aware that they need to conduct their own information when purchasing a property.
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This is why having a buyers agent that is well aware of the market, the rules and codes is so vital to the home buying process. For more information on Portland real estate, Sellers disclosure forms or purchasing property feel free to call me anytime.
Information about registered sex offenders can be found at http://egov.oregon.gov/DOC/faqs.shtml.
Properties may have been used for illegal drug manufacture may be found at: http://www.oregonbcd.org/druglabs/druglabs.html,
Oregon's Drug Lab Clean Up Program and meth labs can be found at: http://www.dhs.state.or.us/publichealth/druglab/methlab.cfm. [Source]