What Are Texas Property Appraisers Required to Disclose Regarding Deaths?

houston appraisal company

When a high profile celebrity or a widely known person dies, the property is often sold after, and a Houston property appraiser has to handle the sale of the home that has garnered widespread attention for all the wrong reasons. Deaths in the home are just one area of disclosure a Houston appraisal company needs to be aware of when it comes to a home appraisal.
Homeowners looking to sell their property are required to disclose a certain amount of information to prospective buyers. Failing to do so is considered fraud. Each state has varying laws and regulations regarding appraisal disclosures.

What is a Houston Property Appraiser Required to Disclose?

The following are some guidelines for a home appraisal Houston homeowners rely on.

Deaths

In Texas, a Houston tax appraisal does not have to include deaths that have occurred on the property from natural causes, suicides, or accidental deaths that are not related to the property. Deaths that are related to the property, however, such as drowning or electrocution due to improper safety precautions, will need to be disclosed.
While no states require appraisers to disclose deaths from natural causes, some will require the home or apartment to reveal if a suicide or murder has happened. Some states require the disclosure of claims that the property is haunted.

Hazards, Dangers

Home appraisals need to include the presence of inherent risks on the property. Texas laws require appraisers to disclose the presence of such harmful materials as:
●     Toxic waste
●     Radon gas
●     Lead-based paint
●     Urea-formaldehyde insulation
●     Previous manufacturing of methamphetamines

Neighborhood Nuisances

Potentially offensive odors, noises, smoke, and other nuisances that can affect the enjoyment and peace of the property need to be disclosed to home buyers. Nuisance disclosure requirements vary widely by state, and many require disclosures of nearby farms, landfills, airports, and other nuisances.

Homeowners’ Association

A Homeowners Association can be helpful and responsive or incredibly difficult and disruptive. The HOA's financial condition and regulations should be disclosed, so a new homeowner will know what they are getting into.

Needed Repairs

For complete information about a home, buyers will need to know what has been repaired on the property. Texas homeowners are required to disclose prior structural repairs and any defects in the walls, roof, fence, or foundation. Electrical and plumbing repairs should also be disclosed.

Water Damage

Water can cause major, long-lasting damage to the structure and foundation of a home. Leaks and water damage history should be disclosed in a comprehensive home appraisal.

Why Reliable Valuation Services?

The home buying and selling professionals at Reliable Valuation Service have years of experience in the industry and can help with any home appraisal questions or services you need.

Contact Reliable Valuation Service Today

Contact the industry experts at Reliable Valuation Service for complete information about a Houston appraisal for your home.

Comments

Post a Comment

Popular posts from this blog

Superstitions in Real Estate Can Affect Buyers, Appraisals

Image
There is a reason high rise buildings do not have a “13 th floor" and why some people avoid "666" addresses and properties where known deaths have occurred. Superstitions often affect the real estate industry, and it takes an experienced appraiser from a respected Houston appraisal company like Reliable Valuation Services to handle properties that may see diminished value in such circumstances. Regardless of the origins or validity, some cultures have superstitions that are typically passed along from generation to generation. People take their superstitions very seriously, affecting the decision-making process in Houston appraisal of real estate and other areas of their lives. An objective understanding of these superstitions and how people react to them can help to make dealings and transactions in the real estate industry go smoother and easier. Look at the Numbers Numerology superstitions often play an important part in the real estate industry and ina...
Read more

Importance of Appraisals for High-Income, Middle-Class Divorces

Image
Couples going through the nasty process of divorce seek out San Antonio appraisal companies like Reliable Valuation Service to evaluate the property and other assets to split up between the two parties. When it comes to super-wealthy divorces like that of Amazon founder Jeff Bezos and author MacKenzie Bezos, assets are substantial, and qualified appraisers were needed to make accurate assessments of it all.   Jeff Bezos retained the title of the wealthiest person in the world even when the divorce was finalized in July 2019 after 25 years of marriage and four children. The Amazon CEO and owner of the Washington Post is worth an estimated $118 billion. Community Property Divorce Like Texas, Washington is a community property state that requires the equal distribution of assets acquired during the marriage. Jeff Bezos founded Amazon after he and MacKenzie married, which entitled her to half of his assets from the company. Community property also includes everything eit...
Read more

Home Appraisals Can Impact Mortgage Payments

Image
Negotiating a selling price when buying a home can be a stressful process of haggling with the seller until you can come to an agreed-upon price. Homebuyers purchasing the home through a mortgage with a home lending company must also get a professional San Antonio appraisal for a third party, unbiased valuation of the property. Existing homeowners also use home appraisal when they wish to refinance a home or when taking out a home equity loan. What is a Home Appraisal? A home appraisal is used to evaluate the house and the property to provide an unbiased estimate on the home’s resale value. A professional, licensed appraiser performing a San Antonio appraisal will be looking for and inspecting these elements of the home: ●      Location of the property ●      Structural condition of the home ●      Additions and renovations that have been performed on the home ●      Comparable sales in th...
Read more