You may not know exactly how much to tell the potential buyer of your home about the property. Disclosure to potential home buyers about problems and issues has been a much debated subject. Many areas actually have laws that require certain disclosures to be made at the time the real estate contract is entered into.
Personally, I tell all. Everything from the once or twice the wind blew down the chimney the wrong way one windy spring to the small little hole in the guest room window screen. Nothing is too small and nothing is to large.
Caveat Emptor — “let the buyer beware” — used to be the law when it came to real estate transactions. Unless the buyer specifically asked about the defect, the seller didn’t need to disclose any problems.
But over the years, the Courts noticed that this was unfair. Car buyers get to test drive cars, so why should home buyers be so blind? If a seller knows about a problem in the home, the problem should be corrected or disclosed to a potential buyer.
Modern consumer protection acts have led to disclosure requirements for sellers.
Although the laws vary from place to place, the...
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