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Whose obligation is it to disclose pertinent information about a property?
In most states, it is the seller, but obligations to disclose information about a property vary.
Under the strictest laws, you and your agent, if you have one, are required to disclose all facts materially affecting the value or desirability of the property which are known or accessible only to you.
This might include: homeowners association dues; whether or not work done on the house meets local building codes and permits requirements; the presence of any neighborhood nuisances or noises which a prospective buyer might not notice, such as a dog that barks every night or poor TV reception; any death within three years on the property; and any restrictions on the use of the property, such as zoning ordinances or association rules.
It is wise to check your state's disclosure rules prior to a home purchase.

Copyright 2007 Inman News. All Rights Reserved.


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    Q: What is the feature called that is contained in some bonds providing that the bonds may not be redeemed or called for some period of time?

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   Cashless Exercise

A "cashless exercise" is the exercise of an option by the option holder in a manner that does not require the option holder to deliver cash to exercise the option, but instead allows the option holder to use the equity built up in the option (in other words, the difference between the value of the underlying stock and the exercise price on the stock pursuant to the terms of the option) as a way to exercise the option. For example, if the option holder has options covering 1000 sharesof stock exercisable at $1 a share, and the fair market value of the stock is $2 a share at the time of exercise, then the option holder has built in gain of $1000, and can use that $1000 to buy 500 shares cash free (resulting in him holding 500 shares that are worth $1000 at the time of exercise).

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