By Mark Lemmons I July 20, 2022
If you’re selling your home, you’re probably wondering how to handle disclosing unfavorable information. Sometimes, it’s difficult to know what you need to divulge about your home and its history! In Texas, there are several things that sellers are legally required to disclose prior to selling. This is done in a Seller’s Disclosure Statement.
Here are 5 common issues you are legally required to disclose. Be sure to read to the end to find out what you are not required to disclose!
If you have had any structural repairs on your home, you are required to disclose that to a potential buyer. These items may consist of repairs to your:
● Columns and beams
● Load-bearing walls
● Columns and joists
work done on these items should be disclosed so that a potential buyer can make
an informed decision about the structural integrity of the home. If you are
aware of any previous repairs in any of these areas, you need to include that
on your Seller’s Disclosure.
You also must disclose any water damage that you are aware of, even if the issue has been resolved. Oftentimes, water damage is caused by:
● Leaking toilets
● Rusty pipes
● Old water heaters
● Poor roofing
● Bad landscape drainage around the foundation
● Water/sewer issues
● Backflow and cross-connection issues
If you’ve had any water damage, you will be asked to disclose that. Water damage is often a sign that there is a deeper problem going on, and a potential buyer has the right to know about it and make sure that the underlying cause has been addressed.
Those are the most common issues that come up on Seller’s Disclosures. There’s a good reason why each of these items must be disclosed to a potential buyer. Less common items that must also be disclosed include:
● Hazardous or toxic waste
● Asbestos components
● Urea-formaldehyde insulation
● Radon gas
● Aluminum wiring
● Unplatted easements
● Previous use of premises for manufacture of methamphetamine
● Fence or sidewalk issues
● Driveway defects
● Electrical system issues
● Flooring problems
● Windows defects
● Lighting fixture issues
● Intercom system failures
If you have any small issues that can be addressed, it’s best to take care of them prior to filling out the Seller’s Disclosure. It does not look good to a buyer when small items like smoke detectors or electrical wiring are marked as defective in addition to larger items. It’s best to take care of the small problems and leave room for any larger items that you must report regardless of the present condition of the home (like the 5 items we covered).
If you need any help navigating your Seller’s Disclosure or listing your home, reach out! Our team is here to help.
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