In a real estate transaction, making sure all details are correct is essential to keep things smooth and avoid potential legal issues. Sellers Shield™ recently received a legal claim that highlights the importance of using our online disclosure platform over traditional paper forms or fillable PDFs.
The Legal Claim
During a home sale, an agent had their seller complete their disclosure form by hand. On the Seller’s Disclosure Notice, the seller stated that the property had room additions, structural modifications, or other alterations or repairs made without necessary permits, with unresolved permits, or not in compliance with building codes in effect at the time. However, the seller failed to fill out the required explanation at the bottom of the page. This omission in the disclosure notice upset the buyers after the sale.
The Consequences
Because the explanation was missing, the buyers felt misled and inadequately informed about the property’s condition. The buyers sent the seller a demand letter and threatened to sue. This situation could have escalated into a costly legal battle for the seller. Fortunately, they had purchased Home Sale Legal Protection through our website, which saved them from expensive legal fees.
Fun Fact:
Home Sale Legal Protection™ can be purchased anytime before closing. It is not required to fill out the disclosure notice using Sellers Shield’s disclosure platform in order to purchase.
Why Sellers Shield™ Makes a Difference
If the seller had used Sellers Shield’s online disclosure platform, this issue could have been avoided entirely. Our Gold Standard Disclosure Platform™ requires sellers to provide explanations when they answer “yes” to certain questions, ensuring that no critical information is left out. This feature is designed to prevent the very type of oversight that occurred in the seller’s case.
Here are some key benefits of using Sellers Shield’s online disclosure platform:
1. Expert Guidance:
Our platform includes expert tips, examples, and definitions to help sellers complete their forms accurately.
2. Mandatory Fields:
Sellers are required to fill out all necessary fields, preventing mistakes and missed questions.
3. Ease of Use:
The online process is quick and simple, similar to using TurboTax
4. Legal Protection:
Sellers can provide purchase Home Sale Legal Protection™ to cover legal costs up to $75,000, providing peace of mind.
Conclusion
The seller’s experience shows just how important it is to use a thorough and guided disclosure process. By using Sellers Shield’s online platform, sellers can avoid costly mistakes, reduce the risk for agents, and make the whole transaction smoother for everyone.
If you’re an agent or a seller, consider making the switch to Sellers Shield™ to protect yourself and your clients from potential legal disputes.
