What Do Buyers Need to Know About Your Home Before You Sell?

English Real Estate Group Video Blog with Scott English

There are certain things that are beneficial for you to disclose to prospective buyers before you sell your house.

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When selling your home, you’ll have to disclose certain information about that home. Here are the main items that must be disclosed to your prospective buyer:

• Water damage or mold. If you’re aware of a leaky or damaged roof or any signs of dampness in the house, you need to let the buyer know.
• Lead paint. Federal law requires homeowners to disclose any lead-based paint if you’re selling a home that was built before 1978.
• Termite damage. If your home has previously been treated with termite damage, that must be disclosed.
• Repairs or insurance claims. If you know any repairs you or the previous owner made, it’s best to reveal that information, even if local regulation doesn’t require you to do so.

Most sellers are aware of the benefit of letting prospective buyers know of the positive features of their home, such as a new roof or new appliances. However, there are also benefits in disclosing defects about the home. Any issue you’ve addressed during the years in your home can provide proof that you’ve kept up with the maintenance. You may want to provide a binder with receipts and insurance claim information to verify work has been done to your home. If there’s an ongoing problem buyers will need to handle, it’s better for them to hear it from you so they can negotiate about when repairs must be made and it’s time to decide who will pay for them.

If you have any other questions about this topic or you’re thinking of buying or selling a home, feel free to reach out to me by phone or email. I look forward to hearing from you.