In preparing to sell any real property in the State of Nebraska you are required, unless you meet certain special conditions, to complete the Seller Property Condition Disclosure Statement. The disclosure statement is a multi-page form in which the seller is asked to declare whether or not certain items or features are included and if so whether or not they are working. In addition the form asks the seller to comment on certain conditions of the property and to disclose whether or not certain hazardous materials have been on the property or if tests have been done to determine their presence. The importance of this form can not be over emphasized and the assumption and legal requirement is that the seller will complete it honestly and to the best of their knowledge. Our advise to seller clients is to disclose, disclose, disclose providing thoughtful and complete descriptions as appropriate. In our opinion it is always better to disclose and explain a condition or circumstance that could be construed as being negative before one has a purchase agreement in place than to have that condition or circumstance revealed or come to light after the fact. Improperly or hastily completed property disclosure statements have, in our experience, resulted in negotiations that are more challenging than need be and even in contracts that have fallen apart. While the State of Nebraska indicates that the statement does not constitute a warranty it does create a degree of liability for the seller as the purchaser may and likely will, as the State indicates “rely on the information it contains in deciding whether and on what terms to purchase the real property”. One of the many services that we provide to our seller clients is to advise them on how best to complete this disclosure in order to avoid potential misunderstandings or problems and to explain any portions of it not clear to them. I have attached pdf copies of the statement for both Lincoln and Omaha which differ only in the inclusion in the Omaha form of a declaration regarding the EPA designated Omaha Lead Superfund Site. Please feel free to download and review the attached forms and to contact us with any questions that they might raise.
Remember whether buying or selling, moving up or downsizing, Lincoln or Omaha, the Vaccaros; Paul & Susan, stand ready to assist you, your family, friends and co-workers. Call or email us today! Lincoln (402)817-0355 , Omaha (402)577-0820, info@WeSellNebraska.com (Paul & Susan Vaccaro – CBSHome Real Estate 15950 W Dodge Road, Suite 200, Omaha, NE 68118 – Woods Bros Realty 3737 S 27th Street, Lincoln, NE 68502.