Kellie Swayne

Sellers beware! Disclose, disclose, disclose! A recent California appellate court case found in favor of a buyer who sued the seller for misrepresentation and negligence. What happened?

Throughout the years in his condominium, the seller had experienced periodic problems with water intrusion. In fact, the entire condominium complex was experiencing similar problems. The homeowners' association (HOA) for the complex sued the builder for the defect. Shortly thereafter, the HOA hired a contractor to repair the problems. After the repairs, the complex continued to experience problems with flooding. As a result, the HOA sued a second time for damages as a result of the contractor's repairs. A second contractor was then hired to repair the problems a final time, though the contractor warned that his work could not fully solve the problem. The seller had not experienced any further problems with flooding after the second repair.

Upon the sale of the condominium, the seller disclosed to the buyer that the property had experienced issues with water intrusion. In the disclosure documents, the seller also described the final repairs that had been made to prevent further water intrusion.

A few years after escrow had closed, the garage of the condominium flooded. The buyers discovered at that time that there had been two previous lawsuits that were not disclosed to them at the time of their purchase. The California court ruled in favor of the buyer. The court decided that the seller's disclosure of the repairs, and not of the lawsuits, was only a partial disclosure of the material information that should have been offered to the buyer.

What does this mean to you? Be sure that ALL material information that will affect the value of a property is disclosed to a buyer!

www.KellieSwayne.com

Property Tax Reassessments. I recently received an official looking letter in the mail encouraging me to file for a reassessment of my property value. They estimate that I could save as much as $1200 annually. And, all I have to do is return the top portion of their form along with a $179 payment. The disclaimer at the bottom of the page reads that this letter is not from a government agency, nor have their "estimates" been verified.

In a time where people are cutting costs in any way they can, a savings of $1200 a year sounds awfully appealing. Why wouldn't you jump at the chance? However, you can have your property value reassessed at NO COST through the county tax assessor's office. If you think you might qualify for a reassessment of your property value and you're in the County of Sacramento, visit the tax assessor's website (Sacramento County Tax Assessor).

The 2008 filing period closed on December 1^st of 2008. Filing for 2009 will open on July 2^nd and run through November 30^th.

www.KellieSwayne.com

I am so blessed. Sometimes I find myself listening a little too well to the ‘doom and gloom' stories on the news or paying a little too much attention to the depressing newspaper headlines. But, then...I stop and think, and I remind myself how very blessed I am.

I feel so lucky to have a wonderful family who support me in every endeavor and who love me so unconditionally. I am surrounded by friends who bring laughter and joy to my life. I work with a group of people who constantly encourage me in the development of my business and who have become a very dear group of friends. I have an extended network of colleagues who challenge me to be better at what I do and who are so willing to share their advice and expertise. I share my days with two adorable dogs that are always happy to see me. I have a roof over my head and clothing on my back. I have my health.

So...to those of you who are a part of my very blessed life, thank you for who you are and for what you do. You are so appreciated.

www.KellieSwayne.com