ANSWERS: 2
  • Obligations to disclose information about a property vary from state to state. Under the strictest laws, the seller and the seller’s broker, if there is one, are required to disclose all facts materially affecting the value or desirability of the property which are known or accessible only to him. Items sellers often disclose include: homeowners association dues; whether or not work done on the house meets local building codes and permits requirements; the presence of any neighborhood nuisances or noises which a prospective buyer might not notice, such as a dog that barks every night or poor TV reception; any death within three years on the property and any restrictions on the use of the property, such as zoning ordinances or association rules. It is wise to check your state's disclosure rules prior to a home purchase.
    • mushroom
      Definitely check about an HOA and get all the rules, guidelines, by-laws and any other governing documents. If they are cagey or refuse to give them out, run far away, or else be prepared for years of frustration.
  • Who is asking? IRS?

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