Monday, February 14, 2011
How much should you worry about lawsuits when you sell a home? Does hiring an agent protect you from getting sued?
These questions are in most buyers minds and the subject of a nifty article by our friends over at Inman yesterday.
Just remember: disclosure is essential. Hiring and agent will not protect you if you fail to disclose specific inspection reports or if you hide specific issues that you know about the house that could cause them trouble.
Most sellers think that part of staging and selling is putting a rosy glow on all your home's features. But if an earlier inspection report indicates a foundation needs repair and you choose not to share this report you open yourself up to possible risk, with or without an agent.
A few years ago, then the market was hot buyers were happier to sign "As Is" clauses in the purchase agreement, but no longer. Sure some buyers my choose to pass on a house that needs a new roof, but some will not. Either way you don't what to open yourself up to any risk.
How to disclose? That's the easy part, get a disclosure form and make sure you walk through you house and note down everything, if you have any questions - disclose. Then make sure to have your paperwork is reviewed before you submit it for final sale. Getting your paperwork reviewed by a legal professional or agent is easy and costs thousands less then hiring an full service agent.
To order disclosure forms or contract review to an Owners.com listing, simply call one of our selling experts at (800) 475-7738. They can explain your options and customize your listing to include worry free paperwork review - by a professional and send you all the forms you need for proper disclosure.
Posted by OwnersBlog at 3:12 PM