Thursday, August 29, 2013

Should minor problems be disclosed?


Some should and others should not. First keep in mind that what is minor to you may not be minor to a cash-strapped buyer. I think to stay out of trouble you need to think like the poorest buyer who might want to buy your home. Of course if the buyer is rich and has the money to make your life miserable, then rich or poor your frame of mind should be cautious.

Second, consider if the issue is active, has been repaired by you or a professional and whether you understand how to repair the problem. Is there any chance what you say you "fixed" is just a patch job? If a patch job disclose it. If fixed I would disclose it but that's a judgment call on the sellers' part. 

Situation: The kitchen sink drain occasionally backs up; we get the pipes cleaned out by the local plumber and its fine till next year. Do we need to disclose anything to potential buyers?

What is your answer?

My Answer: Hire us and I’ll help you to protect yourselves from being challenged later by the buyers with buyer’s remorse.

This area of the law is a mine field – so don’t be the one who steps on a landmine. Call us, contact the Lombardi Law Firm and ask for either Steve Lombardi or Katrina Schaefer.

HOW TO CONTACT US

5000 Westown Parkway, Suite 440
West Des Moines, Iowa 50266
Telephone: 515-222-1110
Fax: 515-222-0718
Write to Steve or Katrina



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