The process of selling homes involves a great deal of effort, time and responsibility. The people dealing in the real estate markets have to build a sense of confidence and trust in the mind of the buyers in order to convince them about the excellence of the property. The law also has a provision for a variety of reports, which aim at safeguarding the interests of the people buying homes. The sellers ensure that the buyers are provided with all the paperwork so that the transaction progresses smoothly and lawfully. The hazard disclosure report is one such important document, which has to be presented to the homeowners by the seller.
The main purpose of this report is to provide the buyers with an exact and accurate understanding of the environment related details of the land, on which the house stands. Since every individual, who buys residential property, intends to hold in on a long-term basis, it is necessary that the location is not prone to natural disasters like earthquakes and floods. However, this is not the only criteria that need to be mentioned in the report. There are numerous other statutory aspects, which need to be inspected and reported by the sellers in the document. It is suggested that a third party takes charge of preparing this report in order to bring more objectivity to it.
The significance of this report is such that there are a large number of companies, which specialize in preparing the same. The employees of such companies are very well versed with the nuances of making such a report and they do an exceptional job with creating one that fulfills all the parameters, which have been specified by the law. The presence of such companies saves a lot of time and effort on part of the seller and not to mention, adds professionalism and efficiency to the job at hand. Even though there is a standard framework for such reports, different companies prepare them in various different ways. In fact, the sellers can decide on the kind of report, which they want depending on the extent of hazards that they want covered. Naturally, basic reports, which include just the statutory hazards, are cheaper than the more elaborate ones.
Choosing the right company to prepare the hazard disclosure report is extremely crucial as the reputation of the seller is strongly influenced by the quality of the report. An ideal company in this respect would be the one, which has a good deal of experience and expertise at the job. It also manages to deliver the report in the shortest possible time span. The inspection procedures have to be conducted with utmost care and proficiency. In the present times, these companies have become so proactive that some of them claim to prepare and submit reports in a matter of minutes. The fee to be paid for the report preparation is another important aspect. The seller must ensure that the money, which he pays, is not too much or too less considering the type of report that needed to be prepared. While extremely high fees would mean that the company has fleeced the seller, an extremely low amount could be because of low reporting standards.
