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.
That’s 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 can’t 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 property’s 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 don’t 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 house’s interior or exterior to increase your home’s value and potentially attract a buyer.
What you don’t 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 you’re 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.
This renovated Farmhouse has character and plenty of room. 4 bedrooms and 2 full baths. The first floor has a remodeled kitchen, formal living and dining rooms with hardwood floors. Also on the first floor, there is a 12×15 bedroom, a full bath and a laundry room. The second floor has 3 bedrooms, a family room, full bath and a kitchenette! Great for extended or large family. Front porch, back deck and second floor balcony. Beautiful park-like professionally landscaped back yard. Newer arch.roof, windows, heating system and 2 yr old water heater. Walk out basement has work shop and partially finished man-cave. Detached garage with lots of storage.
This is a Colonial/Farmhouse style home and features 9 total rooms, 2 full baths, 4 bedrooms, 0.66 Acres, and is currently available for $199,900.
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