Tips For Selling Your Not-So-Perfect Home
You most likely know your home inside and out, including every little structural flaw and all. You may know that the home's heating system if faulty, the foundation is cracked, or about the termites chewing away at the wood. These and other problems can affect how readily your home will sell and the price you get for it. So, it's important to follow a few tips to selling a not-so-perfect home.
Minor Problems: Weighing Your Options
When your selling a not-so-perfect home, with structural defects or other problems, you have several options. If you have the money and the time, you can fix the problems before you put the house on the market. If not, you can be upfront about any problems with potential buyers and offer to reduce your asking price if needed. These are the honest things to do.
While it's not recommended, there is also the option of not disclosing the information and hope the buyer does not discover it until after the sale is final. The problem is now the new owner's issue. If your state has laws requiring you to disclose this information, it can lead to legal problems down the road. You need to know what your state laws are concerning voluntarily disclosing defects or other problems your home may have.
Major Problems: What's Your Options?
If you home has serious problems, like severe structural damage or other problems that are likely to turn up during an inspection and will most likely reduce the value of your home, your a state most likely requires you to disclose this information. Depending on your state, you may have to complete a disclosure form and provide it to each potential buyer.
Your state may also require you to provide each potential buyer with information about any environmental hazards your home may have, including asbestos or lead-based paints.
A safe option or selling a home with problems is to do so through a real estate agent. He or she is aware of your state's disclosure requirements and can help make sure you are complying with them. If you are sued for for selling a damaged home, the laws tend to favor the buyers, so you want to be careful.
If you are sued by the home buyer over a problem with your home after closing, the real estate agent may be sued too and held liable for nondisclosure, so you can trust that the agent will follow the law to the letter, while still seeking out the best buyer for your home. For more infrmation, contact a professional like Brian Adamski, REALTOR® to learn more.