By Disclosing all issues that have occurred in your home, lessons your liability and reduces the chances of a Buyer coming back and making a claim against you.
The worst thing for a seller is to have a buyer come back several months after a sale and say that there is a problem with their new home and that you, the sellers, knew about it and deliberately hid it from them. The lack of full disclosure of material facts about a home is the number one reason why buyers and sellers end up in court.
Many Sellers are afraid that if they disclose a leak or repair that a buyer wont purchase their home because it has problems. The truth is, the buyers will see a conscientious seller who is honest and has cared enough to make the necessary repairs and have maintained their home.
What To Disclose
- Leaking or moisture from roofs, floors, walls or plumbing that may or may not have caused damage to your home that you are aware of. Damage due to wind, hail or other natural causes.
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Encroachments (building, fence, driveway, sidewalk, ect;) either from your property onto a neighbors or a neighbors onto your property.
- Additions or major repairs done to the home that altered it structurally.
How To Disclose
- Be Honest and Be Complete.
- Explain WHAT the issue was HOW you corrected it. Has the problem reoccurred since the repair?
- Completely fill out all of the lines of the Real Estate Property Disclosure forms and ask questions if you do not understand the question (there are no wrong answers).
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