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Mistakes to avoid when selling your home

On Behalf of | Jan 12, 2025 | Real Estate

At some point, you may wish to sell your home. This is one of the most significant financial decisions you’ll ever make, so getting everything right is extremely important.

Some sellers rush into the process and neglect key legal considerations. Outlined below are some common mistakes to avoid when selling your home.

Failing to disclose defects

One area that many sellers get wrong is disclosing defects. Sellers are required by law to disclose material defects. Material defects include things like mold, structural issues, electrical problems and flooding concerns.

Failing to disclose defects can jeopardize the deal. If the deal goes through with defects that were not disclosed, the seller could face serious legal challenges or financial consequences.

Failing to read contracts properly

A home sale involves numerous contracts. Sellers must read these carefully to protect their rights. Contracts include key details like deadlines, contingencies, and other crucial information.

Another important contract is the purchase agreement. Sellers must review this carefully to ensure that the deal is in their best interests. Failing to review contracts can result in unnecessary delays, financial penalties, and even legal disputes.

Not addressing minor issues

Minor issues are less serious than material defects, but it’s still important to address them. For example, if there are leaks or outdated systems, it can benefit the seller to fix these before the deal goes through. Not remedying minor defects could result in prolonged negotiations, a reduction in the sale price, or even the loss of a potential buyer.

A home sale is a major decision that shouldn’t be rushed. As you negotiate terms, it will help to have experienced legal guidance.