Get the free nj form 140 disclosure 2012-2022

Hi I'm Barry Hensley a custom home builder here to talk with you about the sellers' disclosure you've listed your home for sale and your Realtor has asked you to fill out this form this multi-page form called a seller's disclosure it can be confusing and your Realtor is not allowed to help you with it, so we've done this video to help answer the questions of some of the most confusing items on the sellers' disclosure keep in mind rule number one if its unknown don't answer it as if you know it put down unknown there could be complications to putting false information on the sellers' disclosure this is a legal document it's part of your contract and if you don't know the answer don't guess if something is unknown to you check the box that says unknown I want to call your attention to the general information section item ten confuses many sellers this has to do with professionals or any individual who has come to your home to perform an inspection of any kind it could be a roofer an electrician it can be a foundation repair company or an engineer anyone who has provided you with an inspection report for your home must be disclosed, and you must provide a copy of that report keep in mind that for item 10 this includes any inspection reports that may have been provided to you from a previous buyer who had inspections done by any professional if those inspections were provided to you by the previous buyer even if they terminated their contract you must note this on the sellers disclosure and provide copies of those with the sellers' disclosure let's move on to information about equipment and systems I won't touch on every item I'm going to highlight the ones that people have the most confusion about you feel notice in the first paragraph it talks a little about items that may not be conveyed in the sale of your home if an item is not going to be conveyed in the sale of the home you can mark the Na box but keep in mind that this form does not declare what is not conveyed in the sale of your home these items must be listed in your contract some sellers are confused about the term convey this is a term that refers to your property and any equipment attached to your property that is transferred to the buyer in title when you sell your property so if an item remains with your home, and it goes to the buyer when the sale is completed that is what's known as conveying a piece of equipment for instance a refrigerator a microwave a stove or washer dryer some other piece of equipment if it stays with the property and becomes the property of the buyer that item is conveyed to the buyer the first item that confuses a lot of sellers is an attic fan many people have never experienced an attic fan and don't know what one is this is not a ceiling fan or an exhaust fan this is a device that is typically located in the hallway of the home it's mounted in the ceiling, and it has louvers there's a switch on the wall that turns it on the louvers open, and it draws air...