Disclosures: Simple Cures or Serious Consequence ~ Part 1 ~
Real estate in the public mind is "location, location, location." On the mind of an astute practitioner, it's "disclose, disclose, disclose." We all know that each transaction is different-it's the nature of our business. However, working smart, the cure for inadequate disclosures is easily overcome with every part of your business.The consequences of poor disclosures is often litigation.
Marin County real estate attorney James B. McKenney wrote in his book, Standard Of Care-A Real Estate Agent's Guide To Risk Management, "Of all lawsuits filed, 90 percent fall into areas that can be predicted and avoided.
Disclosure is the motif throughout a healthy real estate career, as well as real estate litigation. It is up to the practitioner to simply incorporate disclosure as a "partner" in his or her daily activities. Conversely, habitual mediocre behavior will always be recognized, whether the practitioner knows it or not. What follows are some of the simple cures and serious consequences that will define how you do business.
(Excerpt from my article in Broker/Agent Magazine, Santa Clara Valley Edition)
Pat Kapowich, "Negotiating Smooth Transactions Throughout The South Bay" SiliconValleyBroker.com