Step 2: Disclosures + Contracts
Disclosures + Contracts
In this step, we'll discuss all the types of disclosures and contracts you'll need to review and sign before selling your home!
Disclosure Regarding Real Estate Agency Relationships:
During your initial encounter or meeting with an agent, you will be asked to sign a Disclosure Regarding Real Estate Agency Relationships form.
This form is required in the state of Michigan (and most other states!). Before you disclose any confidential information, this form is required to be presented and signed by both you and me. If an agent doesn’t require this of you, they are not acting within the law. I may ask you to sign this using a digital platform via Dotloop or if we’re meeting in person, I’ll have a copy to sign. Read here for more details on each agency relationship.
It’s important to remember that this disclosure is not a contract and doesn’t mean you must work with me. This form is required by law to disclose what type of agency relationship I have with any potential buyers or sellers before they discuss any confidential information with me.
Seller’s Disclosure:
A Seller’s Disclosure is a legal document required in the state of Michigan for the majority of home sellers. Sellers are required to reveal and explain any known issues and defects with their home.
Your agent can’t guide you on what to disclose, so if you have any questions on whether or not to disclose something, just disclose it! But, if you don’t know an answer, don’t guess! Honesty is the best policy.
Lead-Based Paint Disclosure:
If your home was built before 1978, you’ll also be required to fill out a Lead-Based Paint Disclosure. Sellers are required to fill out the form and disclose the presence of lead-based paint, even if there is no known evidence of lead-based paint.
Listing Agreement:
The Listing Agreement is the legally binding contract between the listing broker, your designated agent (the Realtor®), and you, the seller. It authorizes the broker and your agent to place the home up for sale, market the home, and find a buyer. It outlines the listing price, duties of your agent and you, as the seller, broker’s compensation, termination date, and any other additional terms.
Ready to connect? Reach out! I look forward to helping you on this journey!
Monique Hanson is a REALTOR® serving the greater West Michigan area. Monique helps people buy and sell homes in Kent, Muskegon, and Ottawa Counties. You can contact Monique by calling or texting 616-805-9177 or emailing hello@moniquehanson.com.