Why You Should Disclose These Issues When Selling Your Home When Most Sellers Don't

It is quite likely that a skilled home inspector will not identify any defects in your home. Consequently, it is not inconceivable that you may be unaware of a defect. Nevertheless, given that you reside there unless there is anything absolutely hidden under the surface that only a trained eye could detect, it is likely that you are aware of at least one or two issues with your home. And if you do, you should inform prospective purchasers about the issues. 94% of homeowners do not disclose known concerns with their house in hopes that purchasers would not notice. 90% of purchasers questioned reported discovering problems with the house after closing, such as Electrical, Fixtures, Plumbing, Exterior structures, Leaks, Basement, Water damage, Heating and conditioning, Exterior facade, Mold or termites, Major appliances, Roof, and Foundation

Even if it's something you've accepted for many years a typical excuse used by sellers, the buyer of your property should not be expected to find it out and be comfortable with it after living there for some time. While purchasers should do their due diligence and their house inspection should identify any faults and might be held accountable for missing anything, the seller is still responsible for disclosing any known problems

You may be liable if you fail to declare! Even if the buyer was unaware of a problem prior to closing on the acquisition of your home, they may still sue you for failing to disclose the issue. It is not only the proper thing to do but also your legal obligation, to inform prospective purchasers about any defects in your home. Because "everyone else does it" and you could get away with it, it is not an acceptable justification to disregard safety. In addition, disclosing a problem does not imply that it must be resolved. This is always negotiable, and the buyer should consider it before making an offer. It may have no impact on the amount they are prepared to give for your home. But if you attempt to conceal it and they discover it, you risk losing a business agreement. 

Planning to buy, sell, or invest in any property type in Florida? Here at LPT Realty , we pride ourselves on giving our customers the best experience and we know how to navigate this challenging market. I'm Miriam Puccio, your local Real Estate Expert, and here for anything you need so let's connect & I look forward to hearing from you.