When you are selling your home you may be bound to disclose problems that could affect the property value . In most states, now in present scenario, it is illicit to frequently hide major physical defects that are there in the property. Sellers should take proper actions and may be required to give it in writing about the condition of the property. You are responsible for disclosing information related to only personal knowledge. You must tell everything fairly and deal in a fair way. It will increase the buyer’s confidence that you are dealing fairly. Secondly it will help to prevent you from legal problems later. And it is not at all important that if you have disclosed the reality related to problems, you have to repair it. The buyers have interest in closing the deal as well and later on these discrepancies can become a major tool for negotiation between both the parties. Some sellers also hire inspectors to deal with it. It would be also beneficial for you as all the loopholes will be in front of both parties and you need not to lie and you are not liable afterwards as you have been fair to them at every point of time. The common rule is that you have to disclose something that you also know. It means it should be something that you know without inspection. For instance acts related to leakage, paint dates, your neighborhoods etc. Such issues should be disclosed to buyers. For more information you want to know about what secrets about your house should be revealed, you can directly talk to property dealers. Sometimes toxic substances and materials related to environmental hazards, especially in older homes may be there. So for these substances have your home tested beforehand. Many buyers are requesting to have these tests done. May be either they will ask you to repair it or expect you to offer a lower price. If you think that the price is too high given any problems listed on the disclosure, or in case if the seller will not be repairing and you are unwilling to do them yourself, then the option is that you can search for a new home.
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