
The
last thing you want or expect is for legal problems to surface after
the closing. Seller liability is serious business - so it's important
to protect yourself every way you can. |

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Inspections
What if the boiler fails a month after the closing? Even
if you knew nothing about the problem chances are the buyer
will think you did - and even the most diligent seller is going
to have a hard time countering this accusation. A pre-sale home
inspection can help. Problems discovered by the inspector can
be repaired or disclosed - and it is very believable that the
seller was unaware of any problems that a qualified inspector
was unable to find. |
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Seller's
Disclosure Checklist
Sellers are legally required to disclose any
known deficiency to the buyers. Unfortunately, not
all parties will agree on exactly what constitutes a deficiency, so your
safest bet is to disclose everything that may be considered a flaw.
While it is by no means a complete listing of potential problem areas,
this checklist provides a good starting point for identifying possible
liability problems in your home.
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General
Information .
Disclose the age of the house and any major problems you've experienced
(including any you believe have been corrected). Provide a complete
list of all known repairs and improvement projects that have been
completed. Specify any variances or other zoning actions affecting
the property. |
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Mechancial
systems.
Disclose any known problems with the home's heating, plumbing, electrical,
and air conditioning systems. List the ages of all furnaces, air-conditioning
units, and water heaters. Provide copies of the service records on
all systems.
Disclose any known problems with alarm systems (fire, smoke, and security)
and intercoms. |
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Roofing,
siding, and windows.
Disclose any known problems or leaks. Specify age of roof, siding,
and windows, if known. |
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Well
and septic systems.
Disclose any known problems with these systems. Provide all service
records. Make sure that purchaser acknowledges any special factors
(e.g. pump septic system). |
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Appliances.
Disclose any known problems. Specify age of each item and provide
service records, if available. |
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Code
violations.
Disclose any and all known violations of current building code standards.
Consider all house systems and structural components. |
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Sub-standard
system performance.
Disclose any household systems that perform in an inadequate manner.
Examples - poor availability of hot water or water pressure, air conditioning
inadequate to properly cool the house, etc. |
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Environmental
issues.
Report any and all known environmental issues, including, but not
limited to, underground tanks, abandoned septic systems, lead paint,
tainted water table, asbestos insulation (usually around pipes), and
radon. |
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