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Updated almost 5 years ago on . Most recent reply

User Stats

139
Posts
54
Votes
Jay Yoo
  • Investor
  • Seattle, WA
54
Votes |
139
Posts

Seller disclosure - reuse from previous seller

Jay Yoo
  • Investor
  • Seattle, WA
Posted

Im selling a property that’s been only for a year. The new buyer will take the existing lease from tenants, lease ends next summer 2021. If I receive an offer, can I reference the seller disclosure from a year ago?

The reason why Im asking is that Im doing FSBO. i know you would say "get an agent"

but I would be loosing money if I get seller agent. However, Im still paying 3% for buyer's agent. Otherwise, no one will be looking at my property.

I signed up the fsbo online service for a flat fee and they provide a offer letter review for $100.

Question is

I have already filled up the seller disclosure and I used the previous seller's disclosure since most items are pretty obvious since it's a condominium. Any thoughts on this? Any problem?

there has been no changes since then except I replaced all appliances.

thank you all!

Most Popular Reply

User Stats

164
Posts
124
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Bradley Sriro
  • Licensed Realtor & Investor
  • Miami, FL
124
Votes |
164
Posts
Bradley Sriro
  • Licensed Realtor & Investor
  • Miami, FL
Replied

@Jay Yoo the seller disclosure is pretty straight forward and not a big deal. All you are doing is disclosing the facts that you know about the property. You should be able to use the one you received on purchase as a reference and then update it with any new pertinent facts since you became the owner of the property. If you honestly don't know something then you don't know. In Florida the answers to the questions on the seller disclosure are either yes, no, or don't know. If a buyer's agent is bringing a buyer, then yes they will need a seller disclosure from you to provide to their client. 

There are pro's and con's in deciding whether to list with an agent or sell FSBO. While you may save in commission, you may lose in other areas. It is very common for FSBO owners to sell for less than their home is truly worth and therefore miss out on thousands of dollars because they under price the home when listing. How did you come up with your asking price for your property? Did you base it on recent comparable sales in your area or by using an online service such as Zillow?

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