Gone are the days of caveat emptor or buyer beware. The United States has imposed a new regulation that requires buyers and sellers to provide a disclosure of their for sale items or properties for the knowledge of both parties.
This new bylaw limits issues and impediments after the transfer. Moreover, buyers can retract from any transaction made once they find out that the sellers are concealing any known facts from their awareness.
So if you are selling a house in Washington DC, vet on the details required by your state so you won’t face a lawsuit after.
To help you, below are the general rules and information you should disclose when selling a house in Washington DC.
Your disclosure should not only present your house’s current physical damages and defects. But it should also provide details of latest upgrades and updates you have completed in your house and the reasons behind the repairs.
These details help the buyers and their home inspector to check and focus on other major issues your house has and the possible damages it may incur overtime.
Repair history like a landfill, roof, electrical, and plumbing repairs, wall malfunctions, new house paint are only a few of the several key information to reveal in the document.
Plumbing related issues like roof leaks, flood, and water in the basement must be divulged for the knowledge of possible buyers.
These problems can obviously weaken your property’s structural value, may damage possessions and properties, and could likely cause poor health to the next homeowner.
So these concerns must not be taken lightly but once denied in the disclosure could cost you charges when discovered. Therefore, reveal them in the papers before your buyer ascertains.
Your house might be made of lead paints or asbestos and other toxic waste that may cause a health hazard. If this is the case, make your prospects aware of it before it’s too late as these are noxious and can severely affect your wellbeing.
Moreover, you should also tell them about any environmental contamination caused by the presence of underground pits nearby, mine subsidence, and damages from natural disaster.
Does your house a witness of death or murder? If yes, this matter should be made known to all.
Some states require this circumstance to be disclosed while others don’t. Regardless if it is a requirement or not, it is best to tell your house’s history and the incident that had happened.
Most buyers believe in superstitions so the ideal option is to tell the backstory. Otherwise, someone from the neighborhood will reveal it for you.
Although it could turn a possible sale around, it is the best you can do.
Furthermore, even if you fix the cause of death, for instance, someone was drowned in the pool due to a damaged safety fence; the death should still be unveiled in the disclosure.
You may also want to tell your buyers about possible nuisances that may brazen out within the area. Nuisances such as smoke, stinky smell, and noise pollution may not be favorable and aggravate next occupants.
Also, make sure to disclose military, industrial, and commercial sources within the vicinity so buyer won’t get surprised about these annoyances by the time they relocate.
Other Disclosures in Selling Your House in Washington DC
6. Insect Infestations
7. Location Issue
8. Property Title Problems
9. Sewage Issues
10. Roof Defects and more
A successful sale happens if both buyers and sellers are transparent and honest in making a deal. Besides, buyers will also do a house inspection so they will still know the defects and damages you are trying to keep.
Hence, whether you are obliged to disclose known facts or not based on your federal regulations, listing small details from a damaged door knob to a major incident like a murder scene can make or break a sale.
However, if you don’t know precisely the house condition because it is just an inheritance from your parents, then you can just detail whatever you know.
But if you want to sell your house in Washington DC as is and don’t want to get bothered by house inspection, repairs, and anything in between, contact The Home Buyers and they will buy your house without concerning about your property’s history and condition.
We Buy Houses in Washington DC, Maryland, and Delaware
We can turn wrecked and old houses into a newly built and beautiful property. If you are in Washington DC, Delaware, and Maryland, and have a house for sale, tell us and we will buy it. While we still want to know the facts about your home, we do not necessarily rely on those details for our purchase.
Regardless of your property’s condition, history, and age, we are always open for collaboration and buy your house in Washington DC in 7 days.