Honolulu Real Estate Lawyers
In our “Mandatory Seller Disclosure Statement for Hawaii Residential Real Estate” article, we focus on the responsibilities of the seller in providing a Hawaii Seller real property disclosure statement for the Hawaii residential real property to the buyer. This article focuses on the selling realtor’s specific duties and responsibilities for disclosure with respect to the sale of Hawaii residential real property.
Under Hawaii Revised Statutes Section 508D-7 when a seller’s agent cannot obtain the Hawaii seller’s real property disclosure statement and does not have written assurances from the buyer that the Hawaii seller’s real property disclosure statement was received, the seller’s agent must notify the buyer in writing of the buyer’s rights to the Hawaii seller’s real property disclosure statement and the rights of rescission.
However, the seller’s agent is not required to prepare the Hawaii seller’s real property disclosure statement. The seller’s agent responsible for delivering the Hawaii seller’s real property disclosure statement, or the aforesaid written notification of the buyer’s rights if applicable, shall maintain a record of the action taken by that agent to effect compliance.
The most worrisome duty though is if the seller’s agent is or becomes aware of any material facts inconsistent with or contradictory to the Hawaii seller’s real property disclosure statement or the inspection report of a third party provided by the seller. If that occurs the seller’s agent must disclose these facts to the seller, buyer, and the buyer’s agent. Doing so puts the seller’s agent in a bind as he or she must disclose facts that may hurt the seller.
As you can see, there are a number of issues that Hawaii realtors need to be concerned about during the sale of Hawaii residential real property.
Contact us now and we can help you review the proposed Hawaii purchase contract and/or the Hawaii seller’s real property disclosure statement.
More Articles on Hawaii Real Estate Law
- Duties and Responsibilities of the Selling Agent Regarding the Hawaii Seller’s Real Property Disclosure Statement for Hawaii Residential Real Estate
- Hawaii Agreement of Sale
- Hawaii “For Sale by Owner”
- Hawaii Commercial Lease Interest Rate and Usury
- Hawaii Commercial Leases: Issues You Must Consider
- Hawaii Contractors Disclosure Requirements to Hawaii Homeowners
- Hawaii Land Court Petitions Explained
- Hawaii Regular System and Land Court Recording System
- Hiring a Hawaii General Contractor
- Landlords Who Reside Outside of Hawaii Are Required to Have Hawaii Property Managers
- Mandatory Seller Disclosures for Hawaii Residential Real Estate
- Probate of Hawaii Real Estate Owned by Japanese Citizens
- Should a Hawaii Purchase Contract (DROA) Be Used in Purchasing Hawaii Commercial Property?
- Terminating Co-Ownership of Hawaii Real Estate Property
- The Process of Claiming and Attaching a Mechanic’s or Materialman’s Lien in Hawaii
- The Role of Hawaii Attorneys in Purchasing Hawaii Residential Real Estate
- The Security Deposit Under Hawaii’s Residential Landlord-Tenant Code
- Understanding the “As Is” Addendum to the Hawaii Association of Realtor’s Standard Form Purchase Contract
- Using a Letter of Intent in a Hawaii Real Estate Sale or Purchase
- What Is the Hawaii Dual Agency Disclosure Form?
- Why a Landlord Must Tailor the Standard Hawaii Rental Agreement
- Why a Purchaser of Hawaii Real Estate May Want to Delete an Arbitration Paragraph
- Why Hawaii Commercial Leases for Exactly a Five Year Term Should Be Avoided
- Why Your Surveying Paragraph in a Hawaii Purchase Contract May be Inadequate When Purchasing Hawaii Residential Real Estate