problems, the more relaxed they will become about buying your house. If you see something, say something. Most states don’t compel you to discuss issues, if you have no knowledge of them. I do feel it is a good idea to have a pre-sale inspection of the home by a professional home inspector. But, don’t run out and hire an inspector to nit-pick every little detail of your home and find problems that might not even affect property value. The problems you must report are the ones that are obvious: leaky pipes, rotting wood, basement flooding—basically anything about your property that has bothered you and that you know will bother the new residents. However, you can’t be cavalier about the unknown issues. In some scenarios, turning a blind eye could get you in hot water. Depending on the state in which you’re selling your house, you could be held responsible for not discovering unknown potential problems. Let me share with you an actual experience I had when I lived in Michigan. My next door neighbor decided to place his house for sale by owner. It was a very nice home on a beautiful lake. It sold quickly. The buyer moved in, and within one month we had a very heavy rain storm. The next day after the storm, I was in my front yard and my new neighbor approached me and asked a question. "Dick, did the old neighbor ever have a problem with water in his basement? Oh yes, I said. Everytime we had a strong rainstorm, his basement would fill with water!" Now, my new neighbor was not a happy camper. Evidently, the old neighbor had not disclosed that the basement had a problem! A court case insued and the court found the old neighbor at
120
Powered by FlippingBook