When I first heard the term "attractive nuisance" Bill Clinton was the President of the United States. So the first thing I thought was that an "attractive nuisance" must be Monica Lewinsky.
However an "attractive nuisance" is any part of a property or anything on a piece of property that attracts children to it but also endangers them.
Examples include an unfenced swimming pool, open pits, abandoned cars or refrigerators, piles of lumber or sand, and trampolines.
Just putting up a warning sign does not always exempt the property owner from liability. The laws vary from state to state as to what conditions must exist for the property owner to be liable. In general, the property owner must make reasonable precautions to eliminate the dangers that a child might encounter. For example, a swimming pool should be inside a tall fenced area and locked so that children cannot wander into that area.
Its a good idea to know what your laws are concerning "attractive nuisances". Also, most important is to look at your property and see if there are any dangers and of course remedy that condition. Don't forget liability insurance too.
Showing posts with label my virtual marketing team. Show all posts
Showing posts with label my virtual marketing team. Show all posts
Wednesday, April 2, 2008
Saturday, March 8, 2008
Seller Beware
We have all heard the phrase "Buyer Beware" and this is true in real estate transactions. However, in these real estate transactions the "Seller Beware" phrase is also important. Why?
1. Fair Housing Laws. Sometimes "for sale by owners" (FSBO) think they can discriminate since they are selling real estate on their own. If you are a FSBO and advertise your property for sale (yard sign, newspaper, internet, etc.) then you are must adhere to Fair Housing Laws just as if it was listed with a real estate company. The FHA is serious about this issue and will investigate any complaints. In fact, they have shoppers that also go out and look for instances of discrimination. Besides just being wrong to discriminate, it can really cost you too. On a non advertised private sale, of course you can sell it to anyone you wish.
2. Disclosure Laws. Property condition disclosure laws vary from state to state. Again, these laws apply to listed properties as well as FSBO. Failure to disclose known property flaws or defects can lead to problems, law suits after the sale. So tell everything you know about the property. If you're honest with your buyer, then you should have no issues to deal with after the sale.
1. Fair Housing Laws. Sometimes "for sale by owners" (FSBO) think they can discriminate since they are selling real estate on their own. If you are a FSBO and advertise your property for sale (yard sign, newspaper, internet, etc.) then you are must adhere to Fair Housing Laws just as if it was listed with a real estate company. The FHA is serious about this issue and will investigate any complaints. In fact, they have shoppers that also go out and look for instances of discrimination. Besides just being wrong to discriminate, it can really cost you too. On a non advertised private sale, of course you can sell it to anyone you wish.
2. Disclosure Laws. Property condition disclosure laws vary from state to state. Again, these laws apply to listed properties as well as FSBO. Failure to disclose known property flaws or defects can lead to problems, law suits after the sale. So tell everything you know about the property. If you're honest with your buyer, then you should have no issues to deal with after the sale.
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