Need to disclose in advance that I am a real estate agent when purchasing my own home directly from seller?
Posted on April 18th, 2010 in Renting & Real Estate | 4 Comments »
Nelson asked:
Ok, I know i need to disclose in advance whether my real estate agent license is active or not but how about if my license has expired. Do I still need to disclose that I used to hold an active real estate agent license & that I have knowledge in real estate? This regards to California.
Orlando Fl Real Estate
Ok, I know i need to disclose in advance whether my real estate agent license is active or not but how about if my license has expired. Do I still need to disclose that I used to hold an active real estate agent license & that I have knowledge in real estate? This regards to California.
Orlando Fl Real Estate
4 Responses
Gps Systems
I would advise disclosure, in the event that your license is merely in ‘inactive’ status. I do not see any harm in such a disclosure.
Thermage Stomach
You have no real duty to report your expired status. I am sure the sellers or their agent will catch on to your knowledge when the contract is negotiated. This should be to their benefit because they will be dealing with an experienced buyer so to say.
Flathead Lake Mt Real estate
Disclose it.
If there are any legal problems down the road with the purchase, you will get creamed in court because you will be viewed as having superior knowledge to the poor innocent seller.
I know it sounds stupid, but it is reality.
Orlando Florida Real Estate
In today’s legal environment, it pays to fully disclose everything.