Sell A Home In Springfield MO - Disclosure: What Springfield MO Home Sellers Need to Tell Buyers
If you are selling your home in Springfield MO, its your responsibility to disclose any known material fact that could affect the sale of the property for sale, especially conditions not readily apparent to a buyer. A material fact is anything that could influence a buyer’s decision to purchase a home or affect the sales price. The major cause of post-sale disputes and lawsuits involve defects and disclosure. Most of the cases could have been avoided if proper disclosures had been made.
Structural and Mechanical Issues
This includes your common items such as a leak in the roof, leak in the basement or pipes, cracked foundations, old wiring, furnace or air conditioner problems, well, septic, or other issues.
Homebuyers are becoming increasingly concerned about environmental hazards and toxic materials in houses, especially older homes built when there were fewer regulations. The most common toxic substances found in homes include lead paint, lead pipes, asbestos insulation, asbestos ceilings, asbestos siding, formaldehyde insulation and glues, and carbon monoxide or radon gases. If you are aware of any of these issues they need to be disclosed as well.
Disclosure and Property Value
The disclosure of a defect could influence the sales price of the home. It most often depends on the market, the size or significance of the defect, and the buyer. For example, in a highly desirable neighborhood sellers probably can sell the home at prevailing prices, even with a leaky roof. However, in an average neighborhood buyers probably will expect sellers to accept a lower price to cover any needed repairs.
Defects as Deal Breakers
The number one reason that buyers back out of a deal is because of problems uncovered during an inspection. To prevent this, you might consider having your home inspected before you sell it and then fixing any major issues or disclosing them. This will prevent many unwelcome surprises.
If you are going to sell a home in Springfield MO, be sure to disclose any issues to your buyers.
About The Authors: Betty Knowles is a full-time REALTOR® with Coldwell Banker Vanguard REALTORS® in Springfield, MO and proudly serves on the board of the Greater Springfield Board of REALTORS®. She also served as President of Women’s Council Of REALTORS® in Southwest Missouri. Betty’s genuine passion is helping people buy and sell homes in Springfield, Ozark, Nixa, and surrounding communities.
John Knowles is likewise a full-time REALTOR® with Coldwell Banker Vanguard and a member of the Greater Springfield Board of REALTORS®. A self-proclaimed computer geek, John is talented at developing real estate websites, videos, photography, blogs, search engine optimization and other technical skills essential to marketing and selling real estate in Springfield MO.
Together this dynamic team makes up TeamKnowles REALTORS®, Spouses Selling Houses! They are dedicated to doing what it takes to sell your home in the greater Springfield real estate market, or help you purchase a home that fits your particular needs. Give TeamKnowles a call today; you’ll be glad you did!
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