Nelson Zide
ERA Key Realty Services | 508-277-7794 | nelson@nelsonzide.com


Posted by Nelson Zide on 10/11/2017

Months could pass before you find the perfect house buyer, the type of person who you feel confident will take care of your current home after you sell it and move out. The longer it takes to sell your house, the more tempted you could become to lower the price on your house, putting yourself at risk of losing money.

Thatís not the only potentially costly temptation that might start nipping at you. To sell your house, you could get tempted to keep certain facts about your house to yourself. It could help you to land a quicker sale. It could also cost you, as there are certain types of information that you are required to disclose to someone before they go through with buying your house.

You canít keep these things about your house a secret

Each state requires you to disclose different types of information. However, you regardless of where you live, you are required to tell home buyers about problems with your house that lower the propertyís value. For example, if you know that you have a hole in the roof, you may need to disclose that information. Painting over water stains on your walls could be a wrong move if you paint in effort to conceal a problem and donít share the information with a buyer.

Some states require you to complete a disclosure form. In this case, you may have to list out all known defects and problems with your house in writing.

Lead and asbestos problems are items that you may be required to disclose. Again, this depends on the specific laws in the state where you are selling a house.

You may have to sign a disclosure form. Should you knowingly omit a defect from the disclosure form, you could be held legally liable for damages. Two steps that you could take to protect yourself are to get your house inspected by a licensed inspector and have the inspector list out known defects. You could also include legal wording on a disclosure form that protects you from unknown defects that the buyer later discovers at the property.

Allow honesty and transparency to pay off

Selling your home could take longer that you want, especially if the market is tight. A downward shift in the economy or job market could also force your house to stay on the market longer than you anticipated. During this time, continue to maintain your house. You could even add one or more upgrades to your houseís interior or exterior to increase your homeís value and potentially attract a buyer.

What you donít want to do is decide to keep certain, required information from house buyers. The latter choice could find you in court. Treat home buyers to the same respect that you want when youíre house hunting. Give home buyers the right information that empowers them to make the best decision. After all, the decision to buy your house may impact someone and their family for years,perhaps decades.




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