Seller exempt from disclosure?

Question

Hey BP - What are some practical reasons a seller would be exempt from disclosing certain info about the property?

Some context from the listing that sparked my curiosity: "Home MUST be on the market for 5 days before reviewing any offers. Property sold strictly AS-IS. Seller exempt from disclosure/disclaimer."

Sergey A. Petrov · Answer

An estate sale is a common one. REOs as well.

Lynn McGeein · Answer

Your state's Code will likely have a full list of types of properties that are exempt if you search for "exemptions from Disclosure Act" or something similar (court-ordered sales, estates, REOs, etc.). Many foreclosures have specific time on market before reviewing offers, selling as-is and are exempt.  May have the mask and caution due to potential for mold/mildew, or just standard language protections they have for all their sales.  I've even had to have buyers sign waivers before entry is allowed, even though my understanding is that Virginia doesn't really recognize those kinds of waivers.

Sergey A. Petrov · Answer

@Bill Brandt - landlords and investors are still required to complete the disclosures in the State of WA… some just answer “I don’t know” but most still provide information to the extent they are aware (I am sure an investor would know if the roof has been leaking for the years as they’d be paying someone to fix it)

Russell Brazil · Answer

Estates, foreclosures, all properties in Virginia are a few off hand.

Dylan H. · Answer

Listing also stated "wear a mask and use caution when viewing"

Bill B. · Answer

All rentals. Non-owner occupant properties. The owner doesn’t live there so how would they know about a bad light switch, or faulty appliance. Pry the same story with inherited units. And maybe flips where no work was done? (So they never lived there and didn’t discover any new problems.)

Seller exempt from disclosure?

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