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Real Estate Tips
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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Real Estate Trivia
Q 
Exactly how many islands are included in the group called the 1000 Islands?

A 
There are actually 1,864 islands in the 80-mile stretch in the St. Lawrence River, between Ontario, Canada and New York State.
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Jim Wolfe, REALTOR®, real estate agent and broker for Northville, Novi and Canton, Michigan home listings, property and land for sale - NUMBER1EXPERT(tm)

Jim Wolfe
Coldwell Banker Weir Manuel

41860 Six Mile Road
Northville, MI 48168
Office: (248) 347-3050
Direct: (248) 675-1242
Cell: (248) 705-0508
Fax: (248) 347-67914
JimWolfe@NUMBER1EXPERT.com

I am happy to help you with all of your real estate needs. Please feel free to contact me if you have a home to sell, if you are looking for a home, or if you have any questions regarding today's real estate market.

ABR ePro MLS REALTOR RELO


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