Alex What happens if you are sold a bad home?
If the new homeowners hadn’t happened to call the same plumber, who noted he’d given the old homeowners estimates of what it would have cost to repair the water issues, though they took no action, there would have been no proof that they had been knowingly sold a problematic home.
What’s the worst mistake you can make when selling your home?
Nobody sets out to make the worst home-selling mistake, yet it happens. Don’t make this common home-selling error when you begin planning how much your home is worth. The worst mistake you can make when selling your home is choosing a real estate agent based on who suggests the highest list price.
What happens if you buy a house from someone who has a leak?
If you buy a house from someone who had a roof leak, and it was fixed, you’re under no obligation to know that because the seller doesn’t have to disclose it, Young says. The burden of proof is on you. And here is the bad news (or worse news, since the good news wasn’t great): It’s hard to prove anyone knowingly sold you a dump.
Is it bad to underprice your home when selling?
In the end, it doesn’t matter what you or your agent think your home is worth—it only matters what the eventual buyer thinks. It’s easy to overprice your home, but there’s little danger in underpricing because multiple offers and competition amongst buyers will drive the price up.
If the new homeowners hadn’t happened to call the same plumber, who noted he’d given the old homeowners estimates of what it would have cost to repair the water issues, though they took no action, there would have been no proof that they had been knowingly sold a problematic home.
Can a home sale be voided if something happened?
Keep in mind that factors such as this do not constitute a legitimate reason for voiding a home purchase if discovered after a sale is complete. Homebuyers should use all resources at their disposal to gain a full understanding of their property before moving further in the home sale.
Can a seller sue you if there is a problem with your home?
You are (probably) within your rights to sue someone who knowingly sells you a house with serious problems. “Most U.S. states have a home seller disclosure law that requires a seller to disclose defects in the home that they are aware of.
Nobody sets out to make the worst home-selling mistake, yet it happens. Don’t make this common home-selling error when you begin planning how much your home is worth. The worst mistake you can make when selling your home is choosing a real estate agent based on who suggests the highest list price.