Dear Michael: In the interest of “full disclosure” of any problems with my property, what exactly needs to be told to a potential buyer re possible fracking?
Answer: A seller must disclose to the best of their knowledge any material fact that affects or could potentially affect the property. During your transaction period you must disclose on the “Transfer Disclosure Statement,” everything you know about the fracking or any other material fact that currently affect the property. I suggest you also add at the end of your sentence “buyers to investigate”. Anything which could possibly happen in the future due to fracking is for the buyers to investigate. Buyers will also receive trough escrow a booklet titled the “Natural Hazard Disclosure Report” which pertains to any geological hazard your home is exposed to in the area it is located. I recommend over-disclosing and not holding any information which could potentially come back to haunt you! If the buyers do not approve of your fracking disclosure or any other disclosure, then the buyers are within their contractual rights to cancel the purchase agreement.
Dear Michael: My son lives in Europe and is not a U.S. citizen. Can he purchase a home in the U.S.?
Answer: Your question would be best answered by an immigration person or attorney. Simply put, if he is allowed to purchase a home in the U.S. and plans on getting a loan he will 1st have to establish credit in the U.S.. This can take 2-5 years depending on his assets. If he can purchase a home all-cash, then it would only be a matter of the INS approval of his residency. Please contact the INS or an immigration attorney for further details.
Dear Michael: My sister passed away of natural causes at her home. I am now in charge of selling it. Will I have to disclose this to the buyer purchasing her home?
Answer: Many buyers consider death to be material fact on the purchase of a property. In some cases, it is advisable to list the death in the manner it has occurred. California civil code provides that you have to disclosure where the death has occurred within 3 years prior to the date the buyer offered to purchase or lease your home. In your situation I would supposed your sister passed away within the last 3 years, if this is the case, you will have to disclose to the buyer at the time of purchase.
Michael Kayem is a Realtor with Re/max Estate Properties serving Culver City and the Westside since 2001. You can contact Michael with your questions at 310-390-3337 or e-mail them to him at: homes@agentmichael.com
