Sometimes sellers believe if they just put on a good face, no will know what's going on behind the scenes. These days, it's a crime to lie about things that are wrong with your home. While the buyer still has to prove you knew or should have known about these items, the damages (not to mention the defense) can be costly.
In the paperwork you receive from your realtor when you list your home, you are asked to fill out a seller's disclosure. This is a form which asks about the current condition, past problems, repairs and improvements that have been made to the home over time. Your are asked to check yes, no or unknown. Sometimes your response requires and explanation and if you don't know the answer (what year was the roof replaced) unknown is a perfectly acceptable response. This form should be filled out as completely and honestly as you are able. It will be signed by the seller and the buyer and is a part of the real estate contract. This disclosure relieves the seller of responsibility if a problem arises and it is addressed in the disclosure. If the buyer has knowledge of a problem and purchases the home anyone he is accepting the conditon of the home.
If you're honest and upfront about past problems and steps you've taken to correct them, your seller disclosures will be a whole lot easier. If the house has current issues, tell the broker and the buyer what you're doing to correct them. Or, make it clear that the purchase price reflects these problems. Either way, honesty pays.
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