Survey: 94% of Sellers Don’t Disclose Property Defects
Written by Steve Springer
Survey: 94% of Sellers Don’t
Disclose Property Defects
They admit hiding a known issue with the home, which is against the law in most states. These are the 13 most common problems buyers find after closing a transaction.
“Sellers failing to disclose home damage is against the law in most states. To ensure protection, prospective home buyers should ask for a completed seller’s disclosure in addition to conducting a thorough home inspection before closing on a new home,” says Cinch spokesperson Bella Valentini.
The top three problems buyers discovered after closing involved the electrical system, fixtures and plumbing. The survey shows the majority came from unpermitted repairs and upgrades, suggesting sellers should rethink doing some DIY jobs.
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