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1) Avoiding liability: If an undisclosed defect (one that you were unaware of for the past 30 years) is discovered after the close of escrow, you could be sued for nondisclosure. The fact that you were unaware of the problem would be for you to prove in court.

2) Avoiding repair costs: Disclosing defects at the outset of a purchase transaction enables you to do an as-is sale. When defects are discovered by the buyers' home inspector, the buyers are more likely to insist on repairs.

3) Building trust: Providing a home inspection report to buyers is a good way to build trust in a transaction by demonstrating that you, the seller, have nothing to hide.

As a seller, it's better to provide disclosure than waiting for disclosure to happen to you.

Posted by Diane Ragsdale on April 27th, 2011 11:54 AMPost a Comment (0)

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