Even though I’m in Georgia and we don’t do this…yet…it still makes me ask the question : Why?
For the benefit of Buyers, Sellers, or thousands of California attorneys who can sue? Even though the form stipulates that the AVID form doesn’t replace a home inspection or seller’s disclosures what happens if the agent leaves something off that “someone in the future” determines should have been listed?
In addition to a California Seller’s Disclosure Statement, California also requires real estate agents on both sides of the transaction to complete an Agent Visual Inspection Disclosure (AVID) form that outlines basic interior and exterior conditions, with certain limitations outlined on the form, they see at the residential property. It’s designed to help agents in fulfillment of their inspection duties.
Is this a good idea, beneficial to anyone, opens omissions liability & inflates E&O insurance premiums, or overkill?
Has its implementation been rewarding to either the Buyers or Sellers?
Do people still buy homes in California regardless of what the AVID form reveals?
Sounds like another level of bureaucracy and waste of time which is why I fear it since Georgia now requires my proof of citizenship for not only a driver’s license, but to get a real estate license.
Source: http://realtytimes.com/rtpages/20130430_agentinspection.htm