Helena Talbot's blog - What You Must Know About Disclosures Before Selling Your Home

Selling your home can be a very exciting time.  You have enjoyed the time you have spent in your home and you will probably be somewhat sad when moving day comes.  But don't make things worse by not knowing everything there is to know about giving a full disclosure about your home.

     

Your realtor will probably pound this in like a prosecutor; but there is a very good reason for giving full disclosure about your home.  So what does "full disclosure" mean and why does my realtor keep warning me about this?  Well, that is because your realtor is trying to keep you out of legal trouble.

What!  Legal Trouble?  How can my telling a little white lie get me into legal trouble?   Well the fact of the matter is -  it is the law -  you must give full disclosure when selling your home.  You must disclose anything and everything that might be wrong  with your home before you sell it.  

You have probably lived in your home for years and you know that is has some "quirks".  No home is perfect, they all have something wrong with them; maybe just a few small things or maybe some really big things.  It doesn't matter how big or small the issues are they must be disclosed before the sale. 

So what exactly do you mean "everything"?  Well, you know that little drip in the bathroom faucet, and the little fact that your dishwasher stops up from time to time, or perhaps the fact that your basement floods or your roof leaks but only when you get a heavy rain.  Yep, that's the stuff I am talking about.  When I say everything must be disclosed, I mean everything!

When it comes time to sell your home you have some options.  You can make the repairs at your expense  or you can let the buyers know up front what the problems are and let the buyers decide if they want them fixed.  Just remember, if you don't get these items fixed before putting your home on the market, your buyers will probably come back with an offer on your home minus the cost of the repairs.

Most buyers will have a home inspection done; however, even if they don't, it is your responsibility to disclose any defects that you know about.  A concealed problem may come back to haunt you after your closing.  There have been many lawsuits that involve undisclosed defects.  So it is in your best interest to disclose, disclose, disclose.  Otherwise, the settlement of a lawsuit will make the cost of those repairs or price concession look like a real bargain!

Talk to your realtor and they will be able to assist you with the disclosure agreement.  Your realtor will be your best friend throughout this entire process and beyond and is the best person to help keep you out of legal trouble.

I specialize in helping buyers and sellers invest in real estate in Loudoun County and Northern Virginia. 

I have over 25 years experience in the real estate industry.  As a Broker/Owner with Exit Realty Talbot and Company, I bring special tools and solutions that enable me to exceed the expectations of my clientele.  If you are considering listing your property in Loudoun County or the nearby areas, ask me about our latest internet marketing systems.  I would appreciate the opportunity to earn your business.  I am experienced in listing and selling short sales.  For information on the short sale process, please visit  www.LoudounShortSaleSolutions.com.

My past awards and designations include – 2003 President of the Dulles Association of Realtors, 2003 Dulles Area Assoc Realtor of the Year, Salesperson of the year 2000 Dulles Area Assoc of Realtors,  Top Producer awards from both the Dulles Area Association and the Northern Virginia Association of Realtors.  I am a member of the Top 5 in Real Estate Network.

I have lived in Loudoun County since 1979.  I am married with two grown children and two grandchildren.  My son in law is my business partner in real estate.  I love to jog in the mornings and spend time relaxing on my Trawler during the summer months.

Loudoun County and Northern Virginia Real Estate Sales and Solutions – Helena Talbot, Broker. I specialize in helping buyers and sellers invest in real estate in the Northern Virginia area to include Loudoun County and surrounding areas including Fairfax, Clarke, Fauquier, Prince William  Counties.  Our local neighborhoods include Leesburg, Ashburn, Sterling, Potomac Falls, Brambleton, Broadlands, Lansdowne, River Creek, Belmont Country Club, Beacon Hill, Shenstone, Waterford, Lovettsville, Purcellville, Hamilton, Round Hill and Bluemont.                        Cell 703.727.9885    Office 703.574.3800   www.facebook.com/LoudounCountyConnect  www.twitter.com/ExitAshburn  www.Linkedin.com/in/HelenaTalbot