@Home Realty Network Realty

You will be required to disclose everything you know about your property and neighborhood as a condition of the buyer purchasing your home. However, you can calm your fears. Disclosing something does not mean you have to fix it. Buyers will not turn and run when you disclose facts that affect the value of your home. On the contrary, buyers are smart and know if your home was built years ago, it will not be in tip-top, like- new condition. Buyers expect the home to show signs of aging and if you tell them that there has never been any problems with your home or that your home is like new, they'll think you're hiding something.

Of course the disclosure benefits the buyer, but more importantly, disclosures protect you. An honest, written disclosure will keep buyers from dragging you into court when they discover a defect. If you told the buyer before the sale everything you know, the buyer's suit won't hold water, even if the basement does.

Your agent will have a standard disclosure form authorized by the Attorney General. Make sure you include the following in your disclosure to the buyer:

· Your complete knowledge of the condition of the roof. Your roof s age; if the roof has ever leaked during your ownership; if any portion of the roof has been replaced or repaired; any problems with the rain gutters; information about the roof s warranty

· Any information you have about termites, dryrot or pests. If any part of your house has been damaged by the terrible trio, tell the buyer. Also tell the buyer about any warranties or coverage by pest control companies.

· Information about additions, remodels or alterations to the house. The buyer needs to know if you obtained all the necessary permits and received final approvals on the work. Also, let the buyer know of any structural changes made by the former owners.

· Information about the structural condition of the house. Disclose to the buyer what you know of past and present movement, shifting, deterioration or other problems with the walls, foundation, walkways, driveways, patios, decks or retaining walls on the property; also, tell the buyer about any repairs to any of the problems.

· The condition of all appliances that are included in the sale, such as the dishwasher, refrigerator, TV antenna and trash compactor. Are these appliances working? Are they new? Are they still under warranty?

· The condition of the electrical system. Include the working condition of everything on the electrical system – the garage door, ceiling fan, smoke alarm, telephone units, switches/outlets, etc.

· The condition of the heating and cooling systems. Do they work? How well?

· The condition of the water systems. Include the plumbing, sprinklers, the water heater and any system using water, including, if applicable, the pool. Also, inform the buyer of the water rights or permits needed if the house is on a private well or septic system.

· The condition of the basement or crawl space. If you know of any water leakage, accumulation, dampness or flooding let the buyer know. Also, tell the buyer of any attempts to repair the problem.

· The condition of the land. Tell the buyer of any potential hazards – flooding, earthquakes, compaction as well as any possible violations of building codes or boundary line disputes. And very importantly, tell the buyer of any existing hazards on the property such as methane gas, lead paint, radon gas, asbestos or any mine shafts or landfills on or near the property.

This list is not all-inclusive and you know the condition of your property better than anyone. Think about what you would want to know if you were buying the house for the first time. Think about what would cause you to sue the seller if you didn't know about it beforehand. If there isn't anything else, you'll probably okay, but if you're still worried, you might want to consult with a real estate lawyer.