If you don't disclose problems, the inspector will likely find them and then you may be faced with making the repairs, renegotiating the contract or losing the deal. Go ahead and air the dirty laundry. Unless the house is brand new, we expect that you've fixed something. A 25 year old home that has never had a repair invites suspicion. Often we can tell that work has been done on a house, but the seller hasn't listed it on any of their disclosures.
So list the plumbing, roof, ac, ... repairs. List previous termite treatments, water damage, foundation issues. If it isn't visible to the average person walking through your house, then you need to ensure you've disclosed it in writing.
Full disclosure can actually help a buyer feel more comfortable about what they're buying. And you'd be surprised how often the neighbors will let the new buyers know about the regular visits from the plumbing company or the previous flood.
What do you need to disclose so that you don't blow a sale or invite a lawsuit? Disclose anything you know about that could affect the value of the property. That includes:
- Completing a standard seller's disclosure form.
- Relay all repairs done to the property.
- Share information about any current or ongoing defects.
- If you know the age of the systems (including the roof), then disclose them.