For Sale By Owner (Source; theprovince.com)
Are you interested in selling your own home? Have you researched the massive amount of disclosures that you are required to provide each potential buyer?
One such requirement is California Megan’s Law. This law is designed to identify the location of sex offenders who are required to register their address in the State run Sex Offender Registry.
You can use this registry to search for registered offenders that might be living in your city or neighborhood. The data base can be searched by City or Zip code. The site also has information about how families can protect themselves and their children from these offenders who are living nearby.
The implication of Megan’s Law is that if sellers or landlords are aware of sex offenders living nearby the subject home, they are required by law to notify buyers and tenants about such residents . This creates a difficult situation for most home owners since none of us are monitoring such a database for the movements of these sexual offenders. That’s why the California Association of Realtors has developed the Megan’s Law Database Disclosure to inform the buyers / tenants about how they can obtain information about sex offenders who might be living nearby.
Once this specific disclosure notice is provider to your buyers by you or your Real Estate agent, this notice is deemed sufficient notice to your buyers and tenants. Delivery of this notice protects you from future claims that you had not disclosed material information about the home’s proximity to the a location where a sex offender might be living.
So, if you are selling your home by yourself, then at least make certain you have all the disclosures that is required by Megan’s Law since you don’t want your buyers to request damages in 5 years because they discovered that a sex offender was living in the same area when they purchased the home from you.
Contact Us if you have any questions about these disclosures.
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