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Disclosure Laws >Full Disclosure
You are about to list your home. Since you have lived there for many years, you know that it is not perfect. For example, there might be a leak in the basement that is noticeable only after a heavy rain. Your garage door might stick, and the dishwasher may be prone to work stoppages.
Every home has a few quirks. When it is time to sell your home, you have a choice of either making the necessary repairs or letting the buyers know about the problems. Material defects must be fully disclosed.
Some buyers will order a structural inspection in order to learn exactly what they will be getting. Even if the buyers don't ask for an expert to look at the house, it is the seller's responsibility to disclose any known defects in the property. The seller's agent will provide the disclosure form, wherein the seller may itemize any problems. Sellers may avoid any real estate lawsuits over undisclosed defects by making repairs before the sale or agreeing to a price adjustment during the transaction if defects are discovered.
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| Q |
Which home is #1 on the Top 10 list for most-visited Historic Home in the United States?
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| A |
Graceland, the palatial home of Elvis Presley in Memphis, TN, attracts 600,000 visitors a year. |
See More Real Estate Trivia > |
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Team Pepka Keller Williams On The Water 908 Riverside Dr. #280 Palmetto, FL 34221 941-708-3555 Fax: 941-708-3455 TeamPepka@NUMBER1EXPERT.com
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