05-30-2014, 09:25 AM
quote:kalakoa, interesting idea.
Originally posted by kalakoa
I still say this needs to be addressed as a real estate disclosure issue -- this won't "fix the roads", but maybe it will keep people from moving into places that lack the infrastructure they want (or need).
The purpose of disclosure is to inform the buyer of things that are known but not necessarily apparent upon physical inspection. There is specific property disclosure and there is a multi-page Big island disclosure that includes coqui frogs, tsunamis, hurricanes, lava, vog, catchment water, and so forth.
Where would you propose fitting this unmaintained road disclosure into the mix? Would it somehow be put into the all-island bag of disclosure, or would you be requiring individual HA (or other subdivision) property owners) to fill it in? Would there be a new line item?
It's been several years since I filled one out, but I remember there are items that require disclosure of any mandatory road fees and HOA dues, and things held in common with other landowners as shared responsibilities.
Do you have in mind a disclosure of the "philosophy" of "this is how it is and don't buy it if you want to change it to suburbia"?
Note: In case my tone isn't clear, I am in no way being sarcastic. I'm thinking seriously about the proposal, how you envision it incorporated in black and white on the disclosure forms.
btw, I'll mention this because some may not know this, but a real estate agent or broker is specifically prohibited from helping the Seller fill out the disclosure. Disclosure is between the individual Seller and the Buyer, However, the multi-page BI disclosure that gets attached is an approved catchall for issues that are found on this island, and obviously that was developed with input from real estate professionals.
Being that Disclosure is a way of informing on what is not easily visible to the eye, I see no need to disclose the state of the roads, as due diligence should be enough. It sounds like what you want to disclose is that any expectations of change in that area are going to meet with resistance and will be disappointed. How would you put it?
I am just not sure how that would possibly work as part of a real estate contract.