The criteria everyone should use when asking "should I disclose" is do you think it might affect the material value of the property in the eyes (perception) of the buyer.
It is actually easier to always answer the querstion "Should I disclose?" with the simple one word YES.
The failure to disclose a known issue that could have affected the value placed on the property by the buyer is criminal fraud at worst and inviting a lawsuit at least.
Disclose both reports and show the repairs and clearance report and you should be able to get the highest value the market will allow for this property.
The more up front you are with everything you know about the property the better protected you are from potential post closing problems.
Disclose report and provide evidence of repair completion.
Failure to do so, may cause headaches down the road. Put yourself in the buyer's shoes. What would you want the seller to do if the facts were the same except you were the buyer?
Best of luck to you!!!
Kawain Payne, Realtor
The one and only answer is yes. If the reports have been made, either have the orignal company come back and do a second inspection or have a written inspection from the company that did the repairs. They should "clear" all the outstanding problems. It does not matter if you get someone to fix who is less expensive. The key is did they do a good job.
Get it in writing so you are covered if the work is not done completely or correctly. The company that fixed your termite/dry rot problems will be responsible. Read the small print and talk to a lawyer to make sure you are covered.
Steve is correct - CAR says "when in doubt, disclose!"
Non-disclosure of material fact is the #1 reason Sellers are sued by Buyers.
The best general rule I have heard regarding this topic comes from the CAR legal hotline:
"When in doubt, disclose."
this is also LAWSUITS and court appearances!
The law reads that you have to disclose any material fact which would impact the value of the property; that includes past problems, that were remedied, and which you have first-hand knowledge of.
Put yourself in the Buyer's shoes; what would YOU do it it was not disclosed?
Did your agent advise you to get reports before you put the property on the market? What is your agent advising you to do now? Asking questions in this forum can help, but your agent should be on top of this. At the very least, when helping my sellers get their property ready for sale, I tell them to get these reports done from a reputable inspector before going on the market. I'm available for further consultation if you are selling here in the Bay Area. Best of luck going forward.
The buyers may want to have their own repairs estimate and inspection anyway.
Please be advised that the pest reports become of public record and it is very easy to find out about them. When a pest inspector comes by your house to perform an inspection, he/she usually places a sticker with the company name and date of the inspection in a visible place, somewhere in your garage, so everyone who comes after her/him to inspect again can see it.
Alina Aeby-Broker Associate
Pacific Union International
Always disclose! Find a buyer that is okay with it and be done with it.
Would you rather keep secrets and have the potential of getting sued later?
Two rules in real estate: location, location, location and disclose, disclose , disclose !