Problems With The House? Yeah, Go Ahead And Disclose

By
Real Estate Agent with Keller Williams Realty Louisville East (502) 664-7827

Dear Seller,

Disclose!!!

Did the basement leak? And you know it? Disclose!!!

Is the fireplace missing a flue damper? Is the chimney missing a cap? And you know it? And you got a bid to fix it? Last year? And you're not disclosing it now? Disclose!!!

Is there termite damage? And you know it? And you're not disclosing it? Disclose!!!

The seller disclosure is there for a reason. Read the preamble to the seller disclosure form. You are obligated to disclose. Don't try to outsmart the system. It will backfire.

The buyer's home inspector will find these defects and you'll lose everyone's trust. You'll end up fixing or lowering the price. The buyer may terminate the agreement and then you'll have to disclose everything to the next buyers, including whatever the home inspection report uncovered.  If the inspection report was shared with you, and there were defects you didn't even know about, you'll have to disclose those, too. Like it or not, you will have to disclose.

If the house closed and the buyer found out later that you purposely omitted information about defects you knew about, then most likely you're looking at some legal problems you didn't expect to have. You may end up with legal expenses and repair expenses that you'll have to pay with money you may not have.

Just disclose. Like it or not, you have to. You're selling real estate, not "buyer beware" junk on craigslist. There are rules in real estate.  Follow the rules. Your Realtor knows the rules. Ask your Realtor. Do the right thing.

 

Posted by

 

 

Dave Halpern, Realtor

The Dave Halpern Real Estate Group

Keller Williams Realty Louisville East

Website David.DavidHalpernRealtor.com

(502) 664-7827

 

 

View Dave Halpern's profile on LinkedIndave_halpern twitterhalperndave_facebookDave Halpern QR CodeLouisville Foreclosure Realtors Dave Halpern

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Topic:
Home Selling
Location:
Kentucky Jefferson County
Groups:
Club Chaos
Diary of a Realtor
Voice of Reason
Tags:
realtor
louisville
seller disclosure
dave halpern

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Rainer
439,480
John Dotson
Preferred Properties of Highlands, Inc. - Highlands, NC - Highlands, NC
The experience to get you to the other side!

Dave,  you are dead on the money.  If you know it, tell it!

Apr 14, 2017 06:09 PM #1
Rainmaker
1,483,171
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • Green • GRI • HAFA • PSC Calabasas CA

It does not matter how many times we advise our clients to disclosure all known material facts, they still manage to forget something....It is better safe than sorry, disclosure, disclosure, disclosure! 

Jun 10, 2017 07:32 PM #2
Rainmaker
1,161,662
Jane Peters
Home Jane Realty - Los Angeles, CA
Los Angeles real estate concierge services

You cannot be sued for something you disclosed for the buyer. If in any doubt whatsoever, disclose.

Jun 14, 2017 03:04 PM #3
Anonymous
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Feb 11, 2019 02:59 AM #6
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Dave Halpern

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