In continuation with what sellers have to disclose when selling their property, today we are talking all about AVIDs. They are required on EVERY residential property sale, but what are they?
Take note of the name- Agent VISUAL Inspection. This is not to replace a home inspection. We are Realtors, not licensed inspectors or contractors. We take this form very seriously and strive to be as detailed as possible. The goal is to note any obvious defects on the property. There is always something. Some of the things we note are- nail holes on walls, cracks in ceiling, wearing on cabinets, no closet doors noted in bedrooms, missing blinds in rooms, etc. A lot of times, this can save you the argument of what was and wasn't present at the time you accepted a buyer's offer. This form will be filled out by each agent in the transaction. For agents representing the sellers, they must complete and provide the AVID within the Seller Disclosure timeframe. Watch last week's video on disclosure timeframes for more information on that subject and the importance of being proactive with sticking to due dates.
If you have any questions on this subject, feel free to contact us directly! As always, have a happy Tip Tuesday!
*Disclaimer- A Realtor has a fiduciary duty to Buyers and Sellers individually. Our goal is to have a strong knowledge base of contracts. However, we are not Real Estate attorneys. Please contact a Real Estate attorney for more information about how to protect yourself from liability and how Real Estate contracts affect you and your situation directly.*
