Posted on: 26 July 2016
If you are planning to put your home up among other homes for sale soon, you need to understand the importance of disclosures. Some issues will be apparent, such as roofing issues or bad plumbing. However, there are additional items that you may not have known to disclose, including the following:
In some states, you will be required to disclose if anyone died in the house. They may even have you state the type of death, particularly if it was a homicide or other violent demise. A death in the home can affect the purchasing decisions of buyers. Realtors will tell you that you should disclose the deaths you are aware of so that you can have an honest disclosure. Obviously, you will not be able to know for sure how many people died in the home if you are not the original owner, but you should list those you know about.
The federal government provides that a lead based paint disclosure be provided for any home built prior to the late 1970s. This will allow the buyer to have a paint inspection done to help them determine whether or not they still want to purchase the house. As a seller, you may wish to have this disclosure on homes after this period in time if you were not the original owner of the home to be sure to cover your bases. If the paint seems to contain lead during an inspection, you will not be held liable.
Any problems with the home's foundation must absolutely be disclosed. Problems with the foundation can cause significant issues for the home. This can range from dampness in the basement to discoloration in the floors. These issues can cause major structural decline for the house as well. The house could begin to sag or lean to the side. If you aren't sure if you have foundation problems, walk around the home and look for cracks in the concrete. Inside, you will know you have foundation issues if you have doors that will not close due to the shifting of the home.
Selling your house can seem stressful and scary, but it does not have to be. Always provide the buyer with as much knowledge about the house as you can. Always utilize a realtor when you are selling to ensure you are playing by all the rules during the sale of a house.Share