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OFFICIAL MAGAZINE OF THE NATIONAL ASSOCIATION OF REALTORS®



  SALES MEETING TOOL KIT: PROPERTY DISCLOSURE
 

Component 1: Facilitator Talking Points

Component 2: Property Disclosure Agenda

Component 3: Handout 1, What Is Liability

Component 4: Activity 1, Recognizing Improper Disclosure

Component 5: Activity 1, Explanations for Disclosure Scenarios

Component 6: Handout 2, Tips for Reducing Your Risks

Component 7. Handout 3, Disclosure Primer and Your Company’s Property Disclosure Form

Component 8: Activity 2, Identifying Defect Red Flags

Component 9: Activity 2, Answers to Red Flags

Component 10: Activity 3: Lead Out Quiz

Component 11: Activity 3, Answers to Lead Quiz

Component 12: Handout 4, A summary of your state’s disclosure requirements under Megan’s Law

Other Resources		   Component 9: Answers for Activity 2, Identifying Red Flags

Eight Physical Defects and Tips on Recognizing Them
This exercise illustrates the identification of common defects and the “red flag” that may suggest their presence. Many other defects may exist and be indicated by other sorts of red flags.

Fill in a red flag that would alert you to the possible presence of each problem in the right-hand column.


Defect Red Flag
1. Roof leak Water spots or discolorations on ceilings; mold or mildew in closets near roofline
2. Termites Weakened or grooved wood, especially near ground level
3. Water seepage in the basement Water marks on the floor, loose or cracked plaster or tile
4. Poor foundations Large cracks or shifts in the foundation
5. Plumbing problems Extremely low water pressure; clanking or banging when water is turned
6. Asbestos Granulated, cement-like coating on pipes or supports; cotton-candy-like material sprayed on ceilings or walls
7. Underground storage tanks Vent pipes visible above ground; oil sheens in wet areas
8. Soil instability/mud slides Gullies in the soil; netting placed to hold soil in place; soil stains higher on exterior walls

Component 10, next page >

Note: This information provides general legal information and should not be relied upon as legal guidance. Before acting, both the relevant laws and legal counsel should be consulted. This information should not be construed as specific legal advice nor as an opinion on particular facts, cases, or situations.