Colorado Springs Vintage Homes Blog
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134 questions for sellers to disclose
Sellers Should Disclosure all defects
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When listing a home for sale in Colorado Springs, Realtor ask their sellers to complete a Sellers Disclosure sheet. Whether the Seller provides the disclosures or not, the seller is still liable for any undisclosed defects. (Some sellers mistakenly think if they don’t fill out the disclosure form, they aren’t liable for defects. Wrong!)
The Seller’s Property Disclosure is a standard Colorado Real Estate Form. There are 6 pages of questions pertaining to the environment. structure and condition of the property and the mechanicals. A total of 134 questions
Some of the questions sellers are asked to disclose include:
- Structural Condition of the property
- Environmental conditions
- Are there special assessments due by the Home Owners Association?
- Condition of appliances
- Roof problems
The Colorado Seller’s Property Disclosure is filled out by the seller (not the Colorado Springs Realtor), signed by the seller and dated. This indicates that at the time of the signing, all the information is complete and true.
When a buyer is purchasing a property, the buyer is required to sign and date the Seller’s disclosure. The buyer is notified that the disclosure is in no way intended to discourage an inspection or is it in any way a warranty for the property. The specific language on the disclosure says: “Even though the seller has answered the above questions to the best of the Seller’s actual knowledge, buyer should thoroughly inspect the property and obtain expert assistance to fully evaluate the Property ……….”
I always tell Sellers, when in doubt disclose, disclose, disclose
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Kathy (719-287-1049) KTorline@msn.com
6 Small improvements can pay off
Colorado Springs Home Improvements CAN Pay off
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Are you looking for improvements you can do to your Colorado Springs home? Here’s my list of 6 SMALL improvements that can pay off with Energy Savings.
- Programmable Thermostats: They can save you a couple of hundred dollars a year on your heating and cooling costs. You can
program it to lower the temp in the house while you sleep, and warm up the house just before you wake. Then lower the temp while you are at work and warm it up before you come home. - Insulation: It’s estimated that heat loss through walls, floors and the roof account for about 45% of heat loss (or cooling loss, in summer.)
- Tankless Hot Water Heaters: They provide hot water only when it’s needed, hence they remove the need for a big tank of hot water waiting in the basement.
- Energy Efficient Windows: They stop unwanted heat and cooling loss in winter and summer and they can also block harmful UV rays that fade carpets and furniture. (See: Colorado Springs home Improvement — it’s all about the windows)
- Compact Fluorescent Bulbs: It’s estimated that that these bulbs can save $56 over the life of each bulb. Multiply that by 40 bulbs which is the number of bulbs in an average home it amounts to big savings.
- Water Circulation System: How much water goes down the drain while you are waiting for it to warm up? It’s estimated that about 25 to 30 gallons of water daily can be wasted this way, 10,000 to 14,000 gallons annually. A water circulation system automatically recirculates colder water back to your water heater until it’s hot enough for use.
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Kathy (719-287-1049) KTorline@msn.com
Don’t let the big ticket items surprise you
Buying a home in Colorado Springs? Don’t forget about the big ticket items
Related Articles:
- One way to find a good home inspector
- Top 5 Remodeling projects
- Free local money for home improvements
- Federal Tax credit available for remodeling
Since I work with many first time home-buyers looking at homes in the Colorado Springs area, I really like to help educate them on what components of a house they should look closely at. Of course, real estate is and probably will always be about location, location, location. But once a buyer finds the perfect location and the perfect floor plan, then they should really focus on the condition of the house.
A qualified home inspector (see Appraisals and Inspections, 2 important steps for home buyers article) will help immensely with going through the major components of a house; but I still think it’s a good idea for potential buyers to have a mental check list of things they should be looking at. If a buyer knows up front that there are problems with the house, they can then keep that in mind when submitting their offer to the seller. My mantra………. an educated buyer can make better decisions.
What are the big ticket money items?
Here’s my list of the seven big items I think buyers should focus on:
- Roof - How does it look? Are there shingles missing? What type of roof is it? Is it shake shingle? Is it Woodruff? It is concrete? Are the shingles curling on the edges? Is there one or two layers of shingles, or even 3 layers? Can you see dips in the roof? Do you see any signs of water damage in the ceilings or on the walls? Read the rest of this entry »
Federal Tax credit available for remodeling
Energy Tax Credit
For a Free Market Analysis on your neighborhood, email Kathy Torline at KTorline@msn.com
HOME REPAIR
Everyone is talking about the $8000 First Time Home Owners Tax Credit. But, there is also a $1500 energy tax credit that is available for every home owner.
The American Recovery and Reinvestment Act of 2009 extended a variety of tax incentives that w
ere first started in 2005. Home owners, including those in Colorado, can save up to $1,500 on their income tax bill if you install approved energy improvements to your house before December 31st, 2010.
Some things you can use the tax credit for include:
- Air Conditioners
- Insulation
- Furnaces
- Windows / Doors
- Sky Lights
- Roofing
- Water Heaters
- Attic Ventilation
- Solar water heating
- Solar Electricity
- Wind Power
- Geo Thermal
- Sealed Crawl Spaces
To take advantage of this tax credit, Read the rest of this entry »
Colorado Homeowners, don’t remodel until you read this!
Get a Free Market Analysis on your Home, Email KTorline@msn.com or call 719-287-1049
I
f you’re thinking about doing a little work on your home, make sure you understand the VALUE it will add to your house. There are many reasons to improve your Colorado Home, but don’t expect to get dollar for dollar back on your home improvements costs. One of the most important articles to read is published by Remodeling, as they put together a great report called Remodeling Cost vs Value Report 2008.
As mentioned by the article, despite home price drops in many cities, including cities in Colorado, remodeling projects are holding their own as a way for homeowners to add value.
What I really liked about the article is that it broke things down by regions instead of grouping everyone together. We all know that things cost different prices in different areas, so this was a plus.
According to the information on the web site: Read the rest of this entry »
