Do I Have to Inspect my Property for Unknown Defects before Selling It?
Generally, a seller only has to disclose defects that are within the seller¿s personal knowledge. Sometimes state law will have a list of potential defects that a buyer must be aware of before selling her property, so it is best to check your state¿s property and real estate laws before selling your house. A seller is not required to bring in a general contractor to look for defects, but may choose to do so to become aware of all defects and potential cost of repairs. A general contractor can help you prepare any required disclosures. How Do I Make the Disclosures to a Buyer?
Disclosures of defects by the seller to the buyer must be made in writing. Generally, states have individual forms that a seller must fill out for disclosure of defects as well as sign and date on the bottom. As a seller, you should make sure the buyer acknowledges receiving these forms by signing their name and dating the forms. What Should I Do if I Am a Seller Who is Accused of Failing to Disclose?
You will probably want to consult a real estate attorney. In most states it is considered fraud not to disclose all material defects when you are selling your house. An experienced real property lawyer can advise you of your rights and any potential defenses you might have. What Should I Do if I Bought a House and Discovered Undisclosed Defects?
You may want to consult an attorney. In a lawsuit against the seller you may be entitled to compensation for any necessary repairs. An experienced real property lawyer can advise you of your rights and represent you in court. |
