You are about to put your home on the market. Since you have lived there for many years, you are well aware that its condition is not perfect. There may be a leak in the basement that shows up only after a heavy rain; your garage door might stick, or the dishwasher may be prone to labor strikes for some unknown reason.
Every home has a few quirks, and when it is time to sell, you have the choice of either making the necessary repairs in order for those things to function properly, or letting the buyers know about the problems at the time a purchase agreement is written. As a matter of real estate law, all material defects must be fully disclosed. Most buyers will order a home inspection in order to receive a professional opinion about the condition of their intended home.
Even if the buyer doesn't ask for an expert to look at the house, it is the seller's responsibility to disclose any known defects in the property. The seller's agent will provide a disclosure form, wherein the seller should have itemized any problems. It is not unusual in homes which have been meticulously maintained that contractors and inspectors find major defects. Therefore, after an inspection the buyer and seller enter into negotiations for repairs. As always, it is a good idea to document your negotiations and keep copies for future reference.
If you have questions about moving, building, selecting your first home or moving up to your next home, contact DAVID BRENTON’S TEAM.
When you are serious about moving… put our TEAM to work for you!
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