While sellers aim to get the most money out of their homes as they can, it should not be their goal to deceive buyers into paying top dollar for a home that has problems. It isn’t necessary to share very minor, common issues from wear and tear, but serious property issues should be disclosed to buyers in advance when you sell your home so that they can make an informed decision about their purchase.
Follow the Law
In some states, sellers are required to disclose certain information about their homes to buyers. In most states, older homes must be inspected for lead-based paint before the transaction can officially be completed. If a death has occurred in the home, a large number of states require sellers to disclose that information as well. Additionally, some states have laws about sharing information on potential environmental threats where the home is located, including:
• Zoning changes
• Flood zones
• Fire hazards
• Noise pollution
• Ground pollution
• Air pollution
You don’t need to disclose every minor repair you made to the house recently, but you do need to be honest about things that might affect the buyers’ decision. Making repairs to certain features of the home can sometimes be seen as upgrades, which help make the decision easier for buyers. You could put their minds at ease by sharing if you’ve replaced the roof, upgraded the home’s electrical wiring or plumbing, or bolted the foundation.
Other, more serious issues could dissuade buyers from moving forward with the transaction, though. Foundational issues are one issue that many buyers don’t want to deal with. Problems of this nature are especially common in areas with basements, because moisture can easily get into the home and ruin other things, like floors and ceilings, in addition to the foundation itself. Infestations from pests like termites might also seem too great a burden to bear for some buyers, and should be disclosed to buyers.
Ask Yourself What You Would Want to Know About the Home
Ultimately, if you are wondering whether or not you should tell the buyers about something you’ve recently had repaired, a reoccurring issue, or a problem you expect the house may have, you should probably clue them in. It isn’t fair (and sometimes isn’t legal) to sell a home that you know has issues to unsuspecting buyers.
When an issue comes to mind while selling your home, ask yourself if you’d want to know about it before purchasing a home. If the answer is yes, let the buyers know. In the end, you’ll rest easier knowing you were honest and passed your home off to buyers who will be happy living in it, flaws and all.
Stress is one of the largest concerns when selling a home. Staging, managing finances and documents, and simultaneously juggling the rest of your life can be completely draining. However, one thing is certain about selling your home: it’s a lot easier when you have a solid real estate agent to handle it. Remember, No-One Works Harder to Sell your Home more than Joe! Contact Joe today by calling 813-908-7293 or visit https://josephlewkowicz.com/