It is important to be absolutely candid with your agent and buyers about the
condition of the property when you are selling your home. If there is anything
wrong with the roof, the plumbing, the wiring or structure, it will probably not
remain a "sleeping dog". "It" will probably wake up, snarl,
growl and snap at your ankles at the precise moment your buyers feel their first
stirring of buyers' remorse.
Concealing a defect is a serious matter when you are selling a home. It is
unlikely that such defects will go undetected because most buyers get a
structural inspection before they are contractually obliged to complete the
purchase. Even if the problems do not surface before the closing, your liability
does not end after the closing for any defects that may have been concealed.
Buyers almost never accept misrepresentation graciously, but they can usually
deal with a house that is short of perfection if they know what they are getting
into from the beginning. When selling your home, your Realtor will provide you
with a seller's disclosure form.
