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Disclosing Water Damage When Selling A House. It’s especially important to have a real estate expert on your team during this kind of. Some common causes of water damage include but are not.
To determine if you can sue seller several years after home sale for from www.washingtonpost.com
When selling a house with water damage, one thing to remember about disclosing this information is to be completely honest about any incidences related to water damage. Unfortunately for one brantford, on couple, a third option was exercised and that was to hide the water damage with sprayfoam insulation and drywall. Report any water damage to your insurance company immediately.
Depending On How Severe The Damage Is, You Could Be Facing Mold Repair Well In Excess Of $5,000.
Mold often follows water damage but doesn’t always have to. Top causes of water damage in the home. Some common causes of water damage include but are not.
Leaks And Flooding And Can Threaten The Structural Integrity Of The Home, And So Can Pests Like Termites.
Disclosing water damage when selling a house Sellers must disclose anything that could affect the property’s value or desirability, water damage is usually visible but often times sellers try to remedy the problem by covering/hiding the problem and don’t understand what the seller disclosure statement means when filling it out. At least, not if it’s significant structural damage.
The General Rule, Though, Is You Have To Disclose Any “Material” Or “Serious” Defects Or Problems You Know About.
But a more recent law in new york requires sellers to disclose property with water damage, including property in a flood plain. It’s especially important to have a real estate expert on your team during this kind of. Be prepared for difficulty finding buyers for your home if.
What A Seller Must Disclose To Potential Buyers Varies From State To State.
That doesn’t mean you have to disclose every single minor problem, such as creaky floors, doors that stick, and minor cracks in the walls. Disclosing water damage when selling a house is a requirement. That’s not just damaging to your.
If The Seller Didn’t Disclose Water Damage It Could Negatively Affect The Deal.
This liability extends to the listing agent. If you’re worried about either selling your house as a result of water damage or your increased insurance, here’s a few things to think about to help protect the value of your home. Real estate agents and buyers alike could easily become suspicious if you fail to mention anything about water damage that has previously occurred.
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