It can be a conundrum. Buyers want (and deserve to have) a full picture of the house they’re buying and the condition it is in. However, disclosing a previous home repair may actually turn off a potential buyer. A foundation that’s had repairs for leaks several times over in recent years, for example, may signal to the buyer that they could have a major water problem on their hands. Both legal and ethical considerations come into play when you’re debating whether or not to ‘fess up to a previous repair. So let’s dig in!
What do you have to disclose to the seller?
Federal seller disclosure laws require sellers to be open and honest about the existence of lead-based paint in a home, but most laws regarding what a seller must share with a buyer are made at the state level.