Selling your home is tough (well, not in this market!) but it’s something that’s done every day. The emotional part of selling your home can be really tough. It’s your home, you have everything just how you like it, and now you have to explain it to the buyers? It’s called a Property Disclosure, and while it may be painful to discuss what’s wrong with your house, it can save you a lawsuit to be up front. Here’s what to include in a property disclosure when selling your home.
For a federal disclosure, it’s pretty straightforward: do you have lead paint or not? Unless the place was built after 1978, you must have the house checked and tested to ensure that it does not contain lead paint. In the case of those homes, you also have to file a disclosure with the results.
For the state, it can vary wildly. Your real estate agents (ahem, right here, guys) can help you through the transaction and keep you abreast of what you need to know. That’s where having a top real estate agent really helps, as we know our stuff.
Now, this is not a comprehensive list, you still need to check with your state regulations when crafting your property disclosure, but always include water damage/mold, lead paint, any hazardous conditions, like danger of wildfires, earthquakes and floods that can pop up, and any repairs and insurance claims on the home.
While you have been spending the better part of the sale process telling prospective buyers how awesome your house is (and it is!) it’s tough to change gears and start telling them what’s wrong. It helps to have a binder or prepared folder with all of the receipts and insurance claims that you have filed over the years to give them a complete picture, and to keep yourself from having to list it out for everyone.
If you are ready to buy or sell your home, call Rick and Tracy Ellis of Keller-Williams Realty today to get the best deal! We have 20 years of experience buying and selling homes in the St. Louis area, and nobody will get you a better deal on your home. Call us at (636) 299-3702, email Tracy at firstname.lastname@example.org or Rick at email@example.com or visit www.tracyellis.com to learn more. You can also listen to us every weekend on FM News Talk 97.1, Saturdays at 4 p.m. and Sundays at 10 a.m.