Posted: Tue Nov 29, 2005 1:57 am Post subject: Need your help on disclosure
I am about to qualify for a mortgage. I came to know about disclosure from one of my close friend. He himself could not explain me much. I really want to know about this as fast as possible.
John _________________ Need help choosing the right loan? Get free consultation from community lenders/consultant
Posted: Tue Nov 29, 2005 2:16 am Post subject: RE:
Hi,
In mortgage industry a broker has to disclose all the known facts to the buyer that can affect the decision of the buyer, like the known defects in the property for sale or lease.
So ask your broker to provide you a disclosure as soon as possible.
Thanks,
Jerry
Jill Guest
Posted: Tue Nov 29, 2005 2:35 am Post subject: RE:
Hi John,
Just want to add one point.
In the disclosure, the broker also needs to mention the information related to the area where the property is situated. For instance, he should state whether there are adequate school facilities or if there is any airport nearby.
jerry
