There are countless details to stay on top of when you’re trying put your home on the market, and the last thing you need is to deal with legal action. Here’s how to avoid lawsuits of any kind on your journey to sell your house.
Provide the proper disclosures
You’ll need to provide the disclosure documents after you’ve accepted a buyer’s offer—they will have the opportunity to review them and can back out of the offer without losing their earnest money deposit if there’s something that they find unsatisfactory. The key here is integrity. Being honest and upfront will ultimately benefit everyone in a real estate transaction, and avoid potential trouble later on. By providing thorough disclosure on the home you’re selling, you’ll give buyers the peace of mind and possibly even sell more quickly than if you were to provide vague or incomplete information.
This might just be the most common cause of real estate lawsuits. It’s imperative that you provide buyers with accurate, complete information about the property before they make a purchase. That means making them aware of any defects in writing—like leaking windows, if any renovation was done without permits, neighborhood odor problems, or anything else that may become a problem for new owner of the home. By disclosing all relevant information about the property, you’re protecting yourself from potential future legal action. Give as many details as you can, especially with issues such as a death on the premises or multiple liens on the property!
Get it in writing
There’s a huge difference between telling a potential buyer about a water stain on the wood flooring and providing them with a written document that they must acknowledge by signing before closing the deal. Let your real estate agent do the talking, and don’t make promises you can’t fulfill to buyers—you’ll definitely end up regretting it.