Before you finalize your house sale, the prospective buyer will want to know as much as possible about the property’s physical condition and any problems that could affect it’s value. Real Estate Attorney David Hannum explains why meth disclosures are required and important.
Questions on Property Disclosures?
Are Meth Disclosures Required?
The home seller is required to disclose certain issues with the property. Does that include whether methamphetamine was ever used or manufactured in the home? The answer is a resounding yes.
Seller Disclosure Form
The uniform seller’s disclosure form in the state of Colorado requires sellers to reveal any type of toxic or stigmatizing substances that were in the home, including meth manufactured within the property.
Why are Meth Disclosures Required?
The reason for this type of disclosure is that the chemicals involved in the manufacturing process can be toxic, and they often linger on the property.
Also, methamphetamine use on a property can be stigmatizing, meaning, that even after the methamphetamine use has been remediated, the home cleaned and toxic substances removed, the home still carries a stigma. A stigmatized home can decrease the home value.
It’s important for homebuyers to know when meth was manufactured on the property and to understand they may have to do further remediation measures to ensure the property remains safe for human habitation. Even after those remediation measures, the home could still suffer, from same damages in a reduction in value.
Therefore, it’s very important that there is a real estate disclose about methamphetamine use or manufacturing on the property.
The Limits of Meth Disclosures
The meth disclosure does have its limits. The home seller has to have actual knowledge that at one time meth was made or used on the property.
If a seller is unaware of the meth activities on the property, they cannot be held responsible for not disclosing it at the time of closing.
Get Connected with a Real Estate Attorney
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