Wednesday, November 10, 2010

Caveat Emptor - Buyer Beware

I'm taking courses to renew my Broker's License --- yes, we are required to continually keep ourselves educated --- which is a GOOD thing!

I remember when we bought our first house - it was 'Buyer Beware'. Now, mainly because of lawsuits, there are laws and forms dictating what has to be disclosed to buyers and renters.

Did you know that you MUST have Smoke Detectors in the hall outside sleeping rooms? And if you do any work over $1,000; then smoke detectors also must go inside every sleeping room as well. For landlords, that $1,000 minimum is met fast - i.e. new carpet! We recommend always updating your rental property to the current code; rather than face a situation where you have to prove that you didn't put in $1,000 of work ---- how do you prove that?

Any property where someone has died within the last 3 years has to be disclosed...but if they died of AIDS, the law prevents us from saying that - even if asked!

If you have questions about your property - just contact us!

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