For real estate transactions, you are legally required to follow federal, state, and local disclosure regulations, identifying any structural faults or other significant details you are aware of that could affect the property’s value in Jacksonville. Furthermore, you should consult with an experienced specialist about even minor issues that could affect the property’s overall use, value, or enjoyment. One reason you should keep meticulous records of all work done is due to disclosure rules. To protect yourself, keep the disclosure form in your possession for three years after the closing.
Aside from structural or other difficulties with the residence, misrepresenting the property is another way to fail to disclose. For example, you make a showing appointment for potential out-of-town buyers, hoping to conceal the noise factor of a nearby airport or the time of day that aromas from a neighbouring factory are flooding into the windows, and you don’t say anything. Read on to learn the implications of failing to disclose issues with your home before selling in Jacksonville, so you don’t have to learn the hard way.
Legal Action
Legal action is one of the implications of failing to disclose problems with your home before selling in Jacksonville. When selling a home, failing to disclose material facts regarding the property should be avoided because buyers are very likely to pursue legal action against what is considered real estate fraud. If the problems with your home have you concerned, a direct sale of the property as-is may be your solution. Like those at Synergy Buys Houses Jacksonville, a direct buyer will detail the amount your home is likely to garner on the traditional MLS vs. every figure used to calculate an offer for a direct sale. At Synergy Buys Houses Jacksonville, our goal is to help you earn the highest possible profit on the deal, even if it isn’t with us.
Legal Judgement and Court Costs
Another one of the consequences of not disclosing problems with your house before selling in Jacksonville, in addition to the time, energy, and stress you will expend dealing with the aftermath, you could end up with a judgment against you in the tens of thousands or more.
Paying for Repairs or Damages Suffered
After the sale, you are still financially responsible for any consequences incurred by the buyers as a result of your failure to disclose concerns with your home before selling in Jacksonville. If a repair is required, such as due to the discovery of unpermitted work you performed, you’ll likely have to pay for the tear-out and replacement, as well as the permitting fees you were trying to avoid. Similarly, if medical treatment is required due to a health threat, the hospital bills will be your responsibility as well.
The experienced direct buyers at Synergy Buys Houses Jacksonville can help you with what you should and should not disclose to help you avoid the consequences of not disclosing problems with your house before selling in Jacksonville. At Synergy Buys Houses Jacksonville, we understand the importance of communication; our direct buyers stop and listen to your questions or concerns, with no pressure or obligation to work with Synergy Buys Houses Jacksonville. Why not save money and time by selling your house directly to Synergy Buys Houses Jacksonville and avoid the prep work, repairs, showings, and paying high commissions or other fees at closing. When you make a direct sale to Synergy Buys Houses Jacksonville, we want you to agree that the cash offer for your house is fair because we want you to feel good about working with us long after the sale. Contact Synergy Buys Houses Jacksonville today at (904) 867-8673 to learn more.