I have a california real estate license, and my husband owns a house. If he sells a house, should he disclose?
jkkim949 asked:
I would like to know whether the spouse of california real estate licensee has to disclose the fact that his/her wife has a real estate license when the property is owned by one spouse only.
I would like to know whether the spouse of california real estate licensee has to disclose the fact that his/her wife has a real estate license when the property is owned by one spouse only.
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August 7th, 2008
If your name is on the deed of the house and you are selling with your husband DBPR says you have to disclose. Is your license active or inactive? If you do disclose you have a license you won’t necessarily get any commission. You should sell the house for him and get commission for it if your license is active. Why give away money?
Based on your question though it doesn’t sound like you are actively with a broker.
August 10th, 2008
Ask the Cali Dept of Real Estate. The website is listed below.
August 11th, 2008
When in doubt disclose, what does it hurt? What does your broker have to say?
August 12th, 2008
You must be new in Real Estate if you do not know the answer. It is common to disclose you have an interest in the home. Also you should ask your tax advisor if you should pay youself a commission for the sale. In some cases the cost of tax’s you pay on the commision you recive will be higher than the profit you make on the home.