Houston, We (Could) Have a Problem
At Oakington Realty we constantly deal with problems, challenges, and odd situations related to real estate. Today we want to bring attention to some of these overlooked issues that sellers may forget to disclose, and that as a buyer is important to ask about.
Now, these disclosures are often mandated by the state, however, depending on the state, these may differ.
Here are some interesting disclosures sellers should be making:
Whether or not you as a seller can expect to run into a ghost at midnight - aka did anybody die in this house? In Texas, sellers don’t have to disclose this as long as it’s not related to the property, but it may be nice to know as a buyer regardless. While we like the movie Casper, we don’t necessarily want to be making his acquaintance anytime soon!
Has your property been damaged in a natural disaster? In Texas, sellers must disclose if the property is close to any toxic waste or other hazardous materials or if it floods!
What repairs have been done to the property? Texas law states that any structural damage repaired must be disclosed. This is helpful for a buyer to know since it gives them a better idea of how much money they may have to invest initially for repairs or down the road for maintenance.
How does this apply to you? Well, as a buyer you can feel confident that (outside of possibly pulling out your Ghostbuster costume) you’re well taken care of and that anything important legally must be disclosed regarding the property.
As a seller, it means that it’s helpful to engage a realtor so you can ensure that you are listing your property correctly and in accordance with laws and regulations regarding disclosures. When in doubt, disclose, disclose, disclose!
No worries though, we are here to help you through the process whether you are selling, buying, or both!