What should a seller disclose to potential buyers/selling agent?
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SA, Raymond Terrace
WHEN selling a home, it is important that you disclose defects that you are aware of in your home or property. As a buyer there is nothing worse than moving in & finding items that are faulty, leading to unknown expense on top of the purchase price. It could leave your buyer with a sour feeling, after what should be an incredibly exciting time. If you are aware of any building or appliance defects, you’re always going to be better off being honest and upfront.
Whenever possible, fixing these items before going on the market is best. It’s a great idea to have a pest & building inspection completed yourself, to identify any issues that you, as the sellers, aren’t aware of. That way you can amend anything that may possibly hold back your sale and avoid giving potential buyers reason to try to deduct the unknown cost of repair from your asking price. If the defect is something that you do not wish to repair, then at least disclose it to your selling agent for transparency. This avoids arguments and ill feelings after the sale.
Hope this helps,