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Real Estate Tips
Selling Your Home >Full Disclosure

If you are about to list a home that 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 
What is considered one of the few remaining tax shelters in the 1990s?

A 
Homeownership--property taxes on a residence or vacation home are deductible up to $1 million.
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John Caussey, REALTOR®, real estate agent and broker for Wichita Falls, Burkburnett, Iowa Park and Sheppard Air Force Base, Texas home listings, property and land for sale

John Caussey
Strategic Realtors

3800 Call Field Road
Wichita Falls, TX 76308
940-322-8400
Fax: 940-696-9771
strategicrealtors@BestImageAgent.com


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