“What do I need to disclose about the house I’m selling?

Isn't it the buyers responsibility to get an inspection and find out what's wrong?

The days of buyer beware in real estate are long gone. Today’s consumer-oriented laws put more responsibility on the seller. Failing to disclose problems with the home can have serious consequences.

If a buyer discovers a major problem with the home after they’ve moved in, they can demand a rescission of the deal. That means the seller has to pay back the money and take back the house. While such an action is not that common, sellers can avoid legal problems by disclosing anything wrong with the property up front.

But it gets trickier—you must disclose all defects in the property, whether you’re aware of them or not. How can you disclose what you don’t know? Conduct a thorough inspection yourself or hire an inspector.

Most agents will help you complete a disclosure sheet, which lists defects or problem areas in the house. This list is presented to potential buyers when, or sometimes before, they make an offer.

Your agent should also be able to help you find a qualified inspector. Be sure to get the inspector’s report in writing—never accept a verbal report of “Everything’s okay.” That doesn’t protect you if a problem arises later.

Free Information for Home-Sellers
Now, a free report shows you a charted path on getting the most for your home quickly.

It tells you what buyers look for when they come through your home. What repairs do you need to make? How can you make your home stand out from all others on the market? You’ll also learn how to choose the right REALTOR.

How to Get Your Free Report
A new, special report, the Ten-Step System for a Successful Home Sale, is available now to home-sellers as a public service. To get your FREE copy, call The Colorado Success Team at 303-901-6558 today.