3 Items You Must Disclose When Selling Your Home

It is a tale as old as can be that selling your home can get daunting, emotional, anxiety-provoking, and exciting. These are just some of the feelings associated with this tedious process. If this process is slightly less complicated, you should take that approach as long as it is right.

One of the strategies when selling your home is full disclosure. As the seller, you are duty-bound to disclose certain aspects of the house to prospective buyers that may help them decide if they want to proceed. Of course, that might not work in your favor, but it just might.

I strongly emphasize that “transparency is an essential step in building trust with buyers.”

Disclosing The Reality When Selling Your Home

Now, there can be a hundred things about your home that you may want to disclose, but you cannot make a mountain out of a molehill.

Jon explains to sellers, “When finding ways to sell your home fast, you should be realistic.”

One of our detail-oriented clients wanted to reveal that the breeze comes into the living room of his house from the southwest direction, hence the French windows. But think about it. Is this information relevant?

NOT REALLY. The topics of disclosure surrounding your house should focus on the big picture. And I’ll highlight three of them.

Past Repairs

Disclosing past repairs is a keystone of honesty with the buyer. Buyers have the right to know about significant repairs that were necessary and how you undertook them. Knowledge about past repairs is a strong deciding factor for the buyer. A prospective buyer may not want to buy a home that has undergone major system-related repairs. Conversely, another prospective buyer may appreciate this information.

Past repairs matter because they can cause potential vulnerabilities in the home. For instance, any repairs to the foundation or roof are necessary conversation topics. David, a realtor friend, states that “by disclosing these repairs upfront, the seller and the real estate agent demonstrate honesty and help potential buyers feel confident about their purchase.”

As a seller, you could disclose past repairs in the following way:

• I always ask clients to provide documentation from licensed contractors to serious buyers. This helps establish reliable communication. – Steve (Broker)
• The seller’s disclosure statement should include specific details about the repair. This includes information related to the kind of repairs that were undertaken. – Rick (Listing Agent)

Neighborhood Disputes

When selling your house, disclosing disputes with a neighbor is essential. These disputes are especially serious if related to property lines, complaints, or shared responsibilities.

• I chose to remove myself from a sale because the seller withheld information about a conflict over the boundary with his next-door neighbor. – Marcus (Agent)
• The seller should disclose if the neighbors are noisy. – Rita (Agent)

We choose to disclose neighborhood disputes by stating the extension of the dispute and the measures that have been taken to resolve the problem. Then it is the buyer’s decision.

Presence of Pets

This might seem like a strange disclosure, but it is much more significant than many sellers realize. Buyers may have allergies or personal preferences that make this information crucial.

• Persistent pet odors can be challenging to remove.
• Pet hair can trigger allergic reactions even after a thorough cleaning.

Why Is Full Disclosure Critical?

Jon states that “if a seller desires a smooth transaction, full disclosure is critical.”

• Buyers could sue for damages if they discover undisclosed issues after the sale. I am aware of a case where both parties spent years in litigation.
• In some scenarios, sellers may be required to cover the costs of repairs or other expenses resulting from non-disclosure.

Final Thoughts

If you’re considering selling your home, you have something to think about. What do you need to disclose about your house?