What You Must Know About Disclosures Before Selling Your Home

12 Jan

What You Must Know About Disclosures Before Selling Your Home

Selling your home can be a very exciting time.  You have enjoyed the time you have spent in your home and you will probably be somewhat sad when moving day comes.  But don’t make things worse by not knowing everything there is to know about giving a full disclosure about your home.

Your realtor will probably pound this in like a prosecutor; but there is a very good reason for giving full disclosure about your home.  So what does “full disclosure” mean and why does my realtor keep warning me about this?  Well, that is because your realtor is trying to keep you out of legal trouble.
What!  Legal Trouble?  How can my telling a little white lie get me into legal trouble?   Well the fact of the matter is –  it is the law –  you must give full disclosure when selling your home.  You must disclose anything and everything that might be wrong  with your home before you sell it.

You have probably lived in your home for years and you know that is has some “quirks”.  No home is perfect, they all have something wrong with them; maybe just a few small things or maybe some really big things.  It doesn’t matter how big or small the issues are they must be disclosed before the sale.

So what exactly do you mean “everything”?  Well, you know that little drip in the bathroom faucet, and the little fact that your dishwasher stops up from time to time, or perhaps the fact that your basement floods or your roof leaks but only when you get a heavy rain.  Yep, that’s the stuff I am talking about.  When I say everything must be disclosed, I mean everything!

When it comes time to sell your home you have some options.  You can make the repairs at your expense  or you can let the buyers know up front what the problems are and let the buyers decide if they want them fixed.  Just remember, if you don’t get these items fixed before putting your home on the market, your buyers will probably come back with an offer on your home minus the cost of the repairs.

Most buyers will have a home inspection done; however, even if they don’t, it is your responsibility to disclose any defects that you know about.  A concealed problem may come back to haunt you after your closing.  There have been many lawsuits that involve undisclosed defects.  So it is in your best interest to disclose, disclose, disclose.  Otherwise, the settlement of a lawsuit will make the cost of those repairs or price concession look like a real bargain!

Talk to your realtor and they will be able to assist you with the disclosure agreement.  Your realtor will be your best friend throughout this entire process and beyond and is the best person to help keep you out of legal trouble.

Having the right real estate agent means having an agent who is committed to helping you buy, sell or rent  your home with the highest level of expertise in your local market. This commitment level has helped me build a remarkable track record of delivering results.

Nothing is more exciting to me than the gratifying feeling I get from helping people meet their real estate needs. You can count on me to always do what’s in your best interest. I pride myself on being honest, trustworthy, and knowledgeable in the real estate market. I know how important it is to find your dream home. Therefore I will make it my responsibility to help you achieve those goals.

Whether you are an experienced investor or a first time buyer, I can help you in finding the property of your dreams. Please feel free to browse my website or let me guide you every step of the way by calling or e-mailing me to set up an appointment today.

About the Author:  Millie Gil has been a successful Licensed Real Estate agent for over 25 years in Florida.  Millie is Vice President of Bold Real Estate Group, a boutique agency committed to concierge personalized service for discerning buyers, sellers and renters of residential and commercial properties.  For more information please forward your request to communityinfo@comcast.net

Serving Locally and Globally.  View thousands of new and resale homes:  www.Northeast-Florida-Relocation.comwww.BoldRealEstateGroup.com,  www.NewYork-Florida-RealEstate.com, www.PGAVillage-Homes.com a Golf Style Private Community,  www.TheCascadesAtStLucieWest.com  a 55+ Resort Lifestyle Community, www.HealthcareRelocationServices.com

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