Why sellers should hire a lawyer to assist with the Iowa Sellers Real Estate Disclosure Form

There are many reasons why hiring us to assist you is a good investment. Many homeowners know things about their home, but aren't sure if they should disclose the issue or how to disclose it. Your real estate agent won't help you. They will avoid the subject of disclosure. 

I've been told by lawyers selling theirs the agent avoided discussing the disclosure statement. Agents do not want to take the chance of being pulled into any after-sale lawsuit, so they are taught to say nothing, be vague and never say how to fill out the statement.

So if this is the standard operating procedure how are you supposed to get advice? And is the form you are given designed to be purposefully vague? Is vagueness built right into the form itself? Are you being fooled into providing little negative information? Should that concern you? Want to talk with us about these answers? Call Katrina or Steve at 515-222-1110. Right now we are purposefully setting our fees low to get this service going; to get the word out that there is a better way. 

What are some good reasons to talk with us to discuss your questions about the Iowa sellers real estate disclosure statement? 

Perhaps the best reason is confidentiality. What you say to your lawyer isn't going to end up being used against you later on. You are protected by the attorney-client privilege. What you tell your lawyer is confidential, meaning you can explore what you think might be wrong in your house and how to disclose it. 

Here are some other reasons:

1. The disclosure form most real estate agents provide is a legal document.
2. Real estate agents and most real estate brokers are not lawyers.
3. The real estate agent and broker will not and cannot provide you with legal advice.
4. If you do not disclose all significant defects and repairs in the house you can be held legally liable. ($20,000 of the buyer's legal costs)
5. The disclosure statement is being read by the Iowa Courts with the offer and acceptance.
6. If you are found to be liable you can be required to pay for your own lawyer and the courts have been ordering sellers to pay the buyer’s legal fees.
7. Lawyers in these cases can have a bill of over $20,000 for representing the buyers.
8. Add up your fees to defend and the buyers legal fees and you can easily spend $40,000 for litigation costs.
9. Last I checked $250 is a lot less than $40,000.
10. Many sellers would rather not give away $40,000 of their home equity to buyers and the lawyers.
11. Ask yourself if your Realtor has mentioned any of this. Why not?
12. Ask yourself if when your real estate agent sells their home if they will arrange for a legal consultation about how to fill out the Iowa Residential Disclosure Form? ($250, yeah I think so.)

Need I say more?

This area of the law is a mine field – so don’t be the one who steps on a landmine. Call us, contact the Lombardi Law Firm and ask for either Steve Lombardi or Katrina Schaefer.

CONTACT US

The Lombardi Law Firm

1300 – 37^th Street, Suite 4

West Des Moines, Iowa 50266

Telephone: 515-222-1110

Fax: 515-222-0718

Email: sdlombardi@aol.com or katrina.schaefer8@gmail.com