Part of selling a home includes ensuring the buyer knows what he is getting. That's why all states have laws stipulating that sellers are upfront with buyers about current or past problems with the home and/or property. State to state, most of the requirements are similar, but seller disclosures in Idaho have some specific informational requirements. The form used for disclosure is unique, to Idaho and it becomes an official part of the contract package and is required by law when a Real Estate Professional is involved.

Most people think the disclosure statement exclusively protects the rights of a homebuyer, so they don't unknowingly purchase a property that has unknown defects. However, the disclosure statement also protects the seller because there is a written record of what was disclosed to the buyer.  Obviously, if you sell a property without being honest about the condition, you could be become a party to a lawsuit against you and liable for damages when something you did know or should have known becomes evident after the sale.

What do You Have to Disclose as a Seller?

So, you're probably wondering specifically what do you have to disclose as a seller when you're filling out the form.  Well, you should always disclose everything you can think of!  Even if you think it doesn’t matter, OVER DISCLOSE, OVER DISCLOSE!

The Idaho State Legislature has tried to make that as explicit as possible in Statute 55. The statute specifies that sellers divulge issues like:

  • Whether the property is located in an area of city impact
  • Which appliances are included in the sale and whether or not they are functioning.
  • Problem areas in the home, i.e.: basement, foundation, roof, well, plumbing, electrical, heating, etc.
  • Past occurrences: Mold, Water intrusion, Major Repairs, Insurance claims, etc.
  • Conditions that could affect a clear title
  • Construction that may have occurred without a building permit

And those are just a few. The nice thing about the Idaho Seller Property Disclosure is that they're typically done on an official form that is in actuality a questionnaire, so they're fairly easy to fill out. Most of the items are phrased as "yes," "no," or "don't know" questions, though there are a few that require short but specific answers such as the age of the home and whether the drinking water source is public or private. There's also a “Catch All” section to provide additional information that the questions might not cover.

You Don't Have to Become an Expert

Don't worry that having to fill out a Seller Property Disclosure puts you on the hook for knowing every possible thing that could be wrong with your home. Idaho's Property Condition Disclosure Act specifically states that, unless it's otherwise noted, the seller has no expertise in construction or related areas. That means, unless you are a builder, architect, or engineer by trade, or work in a similar field, you aren't expected to know any more than the next guy about issues that may occur. According to the Nolo legal website, the bottom line is that if you don't know about a problem, you aren't under any legal obligation to go looking for it.  That is the responsibility of the buyer and one reason a professional inspection of the property is always recommended.

Rights of a Home Buyer

The seller's disclosure protects the rights of a home buyer to a point, but the Washington Post advises home shoppers that they can't assume there are no problems if they aren't listed on the Seller Property Disclosure in Idaho.  Just because the seller isn't aware of them, that doesn't mean they don't exist. If, after the sale, you find a serious problem like a crack in the foundation or mold in the walls and you can’t prove the seller either did or should have legitimately knownt know about it, you'll be the one responsible for fixing the issue. You should do some homework on the property yourself if there are certain problems you're concerned might exist. A Realtor can be helpful in connecting you with qualified professionals so you don't go into the sale ignorantly.

The professionals at Stewart Realty have vast experience when it comes to buying and selling homes, and that includes all the legal documentation that goes with it such as Seller's Property Disclosure Statements. Give Jeff Stewart, Owner/Broker at Stewart Realty a call for help selling your and staying out of hot water when you do!. 

The team at Stewart Realty knows homes and they know Southwest Idaho real estate. To find out more about real estate in the Boise Region give Jeff Stewart at Stewart Realty a call to set up your personal real estate search, a personal tour of the area and find some great homes that fit your needs and budget.

Compose Your Personal MLS Search With Us:
http://StewartRealtyllc.com or http://HomesInMeridian.com

Jeff Stewart, Broker/Owner 208-602-1993 or jeff@stewartrealtyllc.com