To Disclose or Not To Disclose?

In almost every case, there are not-so-perfect things about any home. If you were wondering whether you should just keep the matter under your hat, read on. Here’s how residential real estate disclosures work in New Zealand.

You should choose an agent you trust enough to tell them everything you know. They should also be passing on everything they know about your campaign as it unravels.

Your agent is always working in your best interests and when both parties have all the information, your sales partnership will be powerful.

A competent Salesperson will always be able to give sound guidance about which issues do and do not need be disclosed.

Often remedying the issue prior to sale will bring you the best sale price, but this should always be weighed up against the sellers’ time pressures and financial resources.

Disclosure is a hot topic for salespeople and reviewing their responsibilities is an annual obligation. While it’s not up to the agent to uncover any hidden defects in a property, they must tell any prospective buyers what they know and the risks associated. Further, the agent is expected to have sufficient property knowledge to identify which issues buyers will be interested in.

The rule of thumb we like to use at Village, is that if you are concerned about disclosing it, usually because you are worried it may affect a person’s desire to buy your home, it’s a good indication that the issues really should be mentioned to buyers or risk of litigation may follow. So, trust your agent to guide you here.

An agent must not disclose any problems with your property to buyers without getting your consent first, however. In our experience disclosing usually puts the buyer at ease as they appreciate the high level of integrity we demonstrate. They feel they can trust the agent and this paves the way for comfortable and smooth negotiations.

If in doubt, discuss it with your agent. No home is perfect. Disclosure is a normal part of the sale and purchase process.

For more personalised advice, or to chat about any other real estate matter, give one of our team a call for a confidential chat or contact admin@villagerealestate.co.nz and ask to be directed to a salesperson.