Five Things A Property Seller Should Disclose To Potential Buyers

If you are buying a property, it is your right to understand every defect it may have. That way you can make an informed decision on whether to buy the house or not. This means the seller is obligated to reveal all the defects they know about at the time of the sale. Here are some of the areas that these disclosures should cover:

Structural Issues

Structural problems are those that affect the actual physical structure of the house. This includes the foundation, walls, and roof. Damages to any of these parts would interfere with the stability of the house. For example, if the foundation is sinking or the roof is leaking, the seller should tell you about it.

Plumbing and Electrical Issues

The plumbing and electrical systems are some of the most important in the house, so you should know if they are defective in a way. For example, you should know if the water pressure is not as high as it should be or if you suspect hidden water leak in the house.

Hazardous Materials

Some houses have been constructed with hazardous materials that make them dangerous to live in. This is usually the case with old houses that were constructed when builders were still ignorant about the dangers of building materials used in the house. For example, some houses were constructed with lead, which has since been deemed as poisonous.  The seller should inform you if there are any such hazardous materials in the house.

Flood Danger

Flooding is a serious risk that threatens not only your property but also your life, especially if you aren't prepared for it. Also, flood damage may remain hidden for a long time or cause long-term consequences. This is why the seller should tell you if your house is constructed in a flood zone or whether the house has suffered previous flood damage.

Water Issues

The fact that there is a well in your house doesn't mean you have ready water for your domestic use. Also, the fact that your house is sitting next to a lake or by the river doesn't mean that you can use the water in any way you like. For example, you may not be allowed to fish in the river and the water in the well may be contaminated. This is why the seller should disclose all the issues affecting the water on the property as well as your water rights should you choose to buy the property.

Contact local real estate companies for more information and assistance.