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Seller Disclosure Conundrum

I’ve certainly seen Sellers who waive their home disclosure.

Less commonly, I’ve also seen Sellers who not only (conscientiously) complete their own Seller’s Disclosure, but provide the previous Seller’s Disclosure as well (lawyers call this “tacking”).

But, I can’t recall previously seeing a home Seller who did . . . both.

It’s especially unusual to see the previous Seller’s disclosure when the previous sale was several years ago, reducing both its relevance — and the likelihood that the current Owner still has it.

Disclosure Oxymoron

The plot thickens because the home in question is immediately north of a major highway construction project that’s just now kicking into high gear, after years of uncertainty and delay.

puntI come up with two possible explanations for the Seller’s “non-disclosure disclosure”:

One. The Seller is someone other than the long-time owner, and hasn’t lived in the home.

Possibilities include an estate representative or a close family member who has power of attorney.

Two.  The explanation is buried in the previous Seller’s Disclosure, packaged with the current Seller’s Disclosure waiver.

That’s where under “Other” — when they bought the home in in 2008 — their Seller disclosed that “Minnesota State Transportation Department to buy home in 2014 (estimate).”

When Silence Isn’t Golden; “Tell What You Know”

Socially, when you don’t know what to say, it can be smart . . . to say nothing at all.

That doesn’t apply in real estate.

Even if the state’s highway plans are uncertain, it’s better for Sellers to tell prospective Buyers that than saying nothing.

Or effectively “punt” by telling Buyers what their Seller told them when they bought, six years ago.

P.S.:  How would I know all this?

Who do you suppose represented the previous Seller??

About the author

Ross Kaplan has 19+ years experience selling real estate all over the Twin Cities. He is also a 12-time consecutive "Super Real Estate Agent," as determined by Mpls. - St. Paul Magazine and Twin Cities Business Magazine. Prior to becoming a Realtor, Ross was an attorney (corporate law), CPA, and entrepreneur. He holds an economics degree from Stanford.

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