Archive for April 27th, 2010

Successful Sellers Disclose Home Defects Before a Sale

After a seller accepts a buyer’s offer on a property and it is considered “under agreement” there are still some hurdles involved before a deal actually closes…a common one is the home inspection. Buyers should always hire a professional home inspector to perform an inspection within a week after an offer is accepted. Sellers should always check over their home for any defects, before a property is put up for sale and marketed, and should disclose those defects to their realtor or prospective buyers in advance. While it is ideal to fix leaky plumbing and touch up peeling paint, there are some major repairs a seller might not be able to do…and that is okay. If a foundation needs additional support, a roof is older, bricks need pointing, or a basement has asbestos, there is nothing wrong with placing a house up for sale as long as those defects are revealed in advance. It is much better to present a property as older with some imperfections and to sell it “as is” than to say nothing and have a buyer discover those defects at a home inspection resulting in a buyer informing the SELLER of a property’s defects. When unknown issues are discovered in a home inspection, it is not unusual for a buyer to request a seller to either fix them or give fair monetary compensation towards necessary repairs. Similarly, if a seller is marketing a property as “totally renovated” or “brand new,” it is important a seller respond cooperatively and be willing to make repairs for any minor imperfections discovered during a home inspection such as a leaky faucet, a broken appliance, or poorly installed cabinetry. Only after a home inspection process is over and all issues have been resolved, can a buyer and seller then proceed with their deal.

Please check back as we continue to update you on East Boston real estate happenings.  To see all our listings, or to search MLS properties, head to the Tony’s Realty Website.

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