Aaron Gumm Real Estate

What is a Seller’s Disclosure Notice in a real estate transaction? 🤔

In its simplest form, it’s a disclosure of a sellers knowledge of the condition of a property as of the date they signed the form. It essentially gives the prospective buyers a little “history lesson” of the property, again, to the best of the sellers knowledge & recollection 🤝

Below is an example of a recent one from a transaction I’ve been involved in. Did you catch it? The seller marked a “Y” for ‘yes’ regarding previous water pe*******on into a structure on the property due to a natural flood event. Further down you’re supposed to provide more explanation however that part was not completed. Maybe the seller forgot & maybe the listing agent missed it too 🤷🏻‍♂️

I asked the listing agent more about this & it turns out practically the whole house had been previously flooded & had to have some major work done to remedy! She then provided all the necessary info about the extraction, removal & remediation 💦

When you’re doing deals make sure you’re working with someone who is looking at this stuff on your behalf. Ultimately it’s the buyers & their agent’s responsibility to catch these as sometimes it’s easy to just glance over stuff in the midst of signing a bunch of paperwork. 📝

Life goes on. Your Sundays are now wide open & a perfect day to look at houses 🏡 Contact me today for the Cowboys ‘one & done’ special 🤠

My client & I first discussed selling this 225 acre tract in July of 2021 & now we’re under contract as of a few days ago! 📝 We received a great offer, now just need it to close! 🤞By the way, land is a great investment! If you’d like to get some yourself, give me a shout so we can talk about a game plan for you.

🍂 DFW Residential Real Estate November Data🦃

➡️ Metrics: All price ranges, all property types, all number of bedrooms, new construction & resale, all years built & all square footage ⬅️

📍Average Sales Price: $453,023; down just slightly from October
📍Average Days on Market: 47; slightly up from October
📍Months Supply of Inventory: 3.5 months; inventory numbers are still relatively low, especially with resale! When buyer demand surges again, expect more competition.
📍Number of Closed Sales: 6,952; down from October by almost 1,000 sales.

What do you think the beginning of 2024 holds as we head into the last few weeks of the year?