When you are looking to sell your home there are a few things that should be disclosed to potential buyers. While some may not be enforced legally, fully disclosing all known home defects is the best way to avoid any potential issues or lawsuits. Here are 7 things we’d recommend sellers disclose about their home in New York State.
1. Lead Paint
While many disclosure issues are handled at the state level, the topic of lead paint is regulated federally. There is a possibility that a home may contain lead paint if it was built before 1978. If this is the case, it is mandatory that a disclosure is completed.
Environmental issues such as whether or not the property is located in a floodplain, wetlands, agricultural district, or if is located near a landfill, should be disclosed. It is also important to make sure the buyer is aware of whether or not the property contains lead pipes, asbestos, fuel storage tanks or if it has been tested for radon.
3. Mold or water damage
Buyers should be aware of a previously damaged roof, leaky basement or any other signs of dampness in the home. Any property drainage issues, which could lead to mold and potential water damage should also be disclosed, even if it was previously fixed. It can be beneficial to provide documentation, either receipts or insurance claims, so buyers can see how the issues were resolved.
Any sort of pest infestation should be disclosed, whether it be termites, snakes, mice or bats. Disclosing that your home was previously treated for termite damage could protect you from having to pay for another termite inspection in the future.
5. Hazardous conditions
It is important to make sure the buyer is aware of any petroleum products or hazardous/toxic substances have been leaked, spilled or somehow released on or from the home. Documentation of proper clean up is very important.
6. Boundary issues or disputes with neighbors
It is useful to disclose any issues with neighbors or boundary issues that may be present on the property. While you and your current neighbor may have a mutual understanding about a crossed property line, it may pose an issue for the future homeowner.