What Defects Must You Disclose?

As a seller, you are responsible for informing a buyer of your home’s problems or defects. If you decide to not to inform a buyer of serious defects, you leave yourself open to be sued later. Even if you sell your house “as-is” you still have to tell the buyer about serious problems with the property..

While it is not necessary to give potential buyers a list of every possible defect in your home, there are some major issues that you must disclose. One of the best litmus tests for disclosures (outside of those things that are required by state and federal law) is to ask yourself if this is something you would want to know about a property you are considering. You can also ask seek the advice of a qualified real estate professional. In fact, some real estate companies will ask you to fill out a disclosure form before they agree to represent you.

One thing you really cannot keep from potential buyers is the possibility of a toxic substance. You need to be honest if the following are present in your home:

Lead
Radon
Carbon Monoxide
Formaldehyde