Just about everything we do these days exposes us to legal risk. So, it’s no surprise that a real estate transaction has legal risk, too. But, it’s not well known that the risk is disproportionate — it’s much riskier for the seller than for any other party. In a recent study, it was found that the seller was the defendant in 88% of cases! 

Not to worry. We have a proactive plan to minimize your risk. Since most lawsuits in residential real estate allege lack of adequate disclosure, here is our three-step plan:

Understand the legal standards for disclosure. Sellers in Colorado are required to disclose “latent defects” about which they have “actual knowledge”. Latent defects are defects that are not visible or apparent on casual inspection. A basement

An appraiser may be coming to your house in the near future. Most home sale contracts are contingent on the buyer or the buyer’s lender obtaining an appraisal on your property. Here are some things you’ll be interested to know about appraisers and the appraisal process:

Occasionally, the appraiser will be doing an “exterior only” appraisal. In those cases, we usually do not even hear from the appraiser — he just shows up and takes some pictures and makes a few outside measurements. Unless you just happen to be home, the appraisal gets done without either of us knowing that it has occurred.

In most cases, the appraiser needs to get inside your house to perform the appraisal. We’ll let you know the date and time that the appraiser will be coming