Estate agents play a crucial role in the property buying process, not only in finding suitable properties but also in ensuring that buyers are well-informed about their potential investments. When it comes to mandatory disclosures, an estate agent's expertise and duty to the buyer can be invaluable.

Here’s how an estate agent can assist and represent the buyer effectively in terms of mandatory disclosures:

Facilitating Full Disclosure

• Ensuring Compliance: An experienced estate agent will ensure that the seller complies with all legal requirements for disclosures. They are familiar with the Consumer Protection Act and other relevant regulations and will verify that all known defects and legal issues are disclosed properly. 
• Reviewing Disclosure Documents: Estate agents can help review the disclosure documents to ensure they are complete and accurate. They can point out any inconsistencies or red flags in the documents that might need further investigation. Learn more about conducting inspections and market valuations to protect your investment.

Educating and Advising the Buyer

• Explaining Legal Terms: Estate agents can help translate complex legal jargon into understandable terms, helping buyers understand what the disclosures mean and how they could impact the property’s value and their use of it.
• Providing Context: They can provide context for the disclosed issues, explaining whether they are common for properties in the area, the potential cost and effort required to address them, and how these issues could affect property value over time.

Advocating for the Buyer’s Interests

• Negotiating Repairs and Adjustments: If significant issues are disclosed, an estate agent can negotiate on behalf of the buyer to have the seller make repairs or adjust the sale price accordingly. This often happens after property inspections and market valuations  reveal issues needing attention. Need help verifying disclosures? Schedule a professional inspection or market valuation through a Rawson-recommended expert.
• Seeking Additional Inspections: Estate agents can recommend further inspections from specialists if the disclosures or initial inspections suggest deeper problems. They help coordinate these inspections and ensure that they are thorough.

Supporting Due Diligence

• Verifying Seller’s Claims: An estate agent can assist in verifying the seller’s claims about the property. This might include checking repair histories, confirming that modifications were completed with proper permits, and validating the resolution of past legal issues.
• Encouraging a Proactive Approach: They can encourage the buyer to be proactive about disclosures. This includes asking the right questions directly to the seller and using professional services to verify the property’s condition.

Navigating Post-Agreement Issues

• Handling Post-Purchase Discoveries: In cases where undisclosed defects are discovered after purchase, an estate agent can continue to assist by advising on potential legal recourse or mediation between the buyer and seller to resolve the issues. 
• Maintaining Records: Estate agents can help keep detailed records of all communications and disclosures related to the property purchase. This documentation can be crucial in case of disputes or legal proceedings.

An estate agent is an invaluable ally in navigating the complexities of mandatory disclosures when purchasing a property. By leveraging their expertise, buyers can ensure they are making informed decisions and adequately protecting their interests throughout the buying process. With the support of a knowledgeable estate agent, buyers can approach the property market with confidence, knowing that their interests are being actively safeguarded. Need help decoding disclosure documents? Check our full guide on mandatory property disclosures.