How do you handle disclosing any known defects to your home without losing a buyer?

Question

1. have an inspector check your house and provide a report to each prospective buyer
2.fill out a seller's disclosure form to the best of your knowledge and provide it to the prospective purchaser
3.ask a realtor to fill out a disclosure form, they are more experienced to handle the problem.
4. you dont have to worry about it, the buyer is responsible for finding any defects

Answer 1

2

You are required by law to report defects to prospective buyers.

Answer 2

You may want to talk to your lawyer before you answer the seller's disclosure form. Only 20% of attorney recommended the seller complete the SDF. The others simply paid $500. By paying the $500 doesn't mean you're off the hook if there are defects to the house; however, the court usually sides with the seller as the buyer are strongly ecourage to have a certified home inspector inspect the house before the buyer sign the purchase contract.

Answer 3

#1 helps the seller because they now have a professional opinion and can address any issues that the inspector finds.

#2 while it isn't necessarily required, it does show a buyer the seller is forthright. Providing a copy of any inspection is a good idea too.

#3 The Realtor by law can not fill out the reports.

#4 you could sell your home "as is", but it makes the buyer think, "what's wrong with the house" and rather than spending money to have it inspected, it's easier to walk away.

So Mr. Seller you choose.

Answer 4

Answer: 2

1 - you can get a home inspector to evaluate your property, but a buyer may be likely to get their own home inspection done anyways, so you may as well save yourself the $300-$500 up front.

3 - any REALTOR in their right mind would never fill out a property disclosure to a property they have no first-hand knowledge of. Also, liability shifts onto them if there were something not disclosed on the form. This wouldn't happen.

4 - if you know of a defect, either latent or patent, you must disclose it... period! It's better to disclose it, than to be faced with a lawsuit later on. Beyond your due dilligence, it is a Buyer Beware situation.

Answer 5

If I was looking to buy a house, I would prefer to see the option in number 1.

Number 2 is what I think we got when we bought our house. Personally, I would trust and inspector's report more.

Number 3...the Realtor never lived in your house, so what do they know about it? Again, I would still prefer number 1.

4, definitely not. I don't know if it's always true, but I think our house came with some type of warranty. I think the thing was if we found anything that wasn't disclosed wrong with it within a certain period of time, we could have the seller pay for the repairs. (I'm going by memory here.)

If you want to disclose defects and not lose a buyer you could offer to take the cost of repairs off the cost of the house, or have them fixed before selling.

Answer 6

You are responsible , Not the Realtor , not the buyer .
Sellers who have tried to shuffle it off , have been sued by buyers , and the court costs far outweigh their gains on the sale .
Being cheezy on this can come back to bite you .

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Answer 7

4 is illegal you have to tell them. 1 is too expensive but if the buyers are close on days after the inspection then a copy can be provided. 2 or 3 are your better bets but 3 is by far the safer route out of the two.

Answer 8

3

Are you studying to become a real estate agent?

Answer 9

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