Hey folks, I’m preparing my house for selling, and had really interesting talks with the realtor, and my friend who is an inspector.
1) Minor improvements. Both realtor and inspector say that I don’t need to mention minor improvements/fixes like wall a was repainted, kitchen faucet changed, valve cartridge changed, etc. However I have a question - in case if future owner faces a water leak, won’t I be on hook even for minor things that potentially insurance may dig out?
2) Major improvements. Realtor says that I must disclose things required by code and provide paperwork for stuff like adding hvac, adding a drywall in a closet, finishing the attic. Inspector says - from practical perspective, buyer’s inspector has to compare the house with the original plan, but such plans are very highlevel. No one will catch an extra drywall. Even if you do major replumbing work, there is nothing to compare it to. It really raised my eyebrows - how does insurance monitor all of such things?
Did you face such situations (as a seller or a buyer)? How did you deal with that?
1) Minor improvements. Both realtor and inspector say that I don’t need to mention minor improvements/fixes like wall a was repainted, kitchen faucet changed, valve cartridge changed, etc. However I have a question - in case if future owner faces a water leak, won’t I be on hook even for minor things that potentially insurance may dig out?
2) Major improvements. Realtor says that I must disclose things required by code and provide paperwork for stuff like adding hvac, adding a drywall in a closet, finishing the attic. Inspector says - from practical perspective, buyer’s inspector has to compare the house with the original plan, but such plans are very highlevel. No one will catch an extra drywall. Even if you do major replumbing work, there is nothing to compare it to. It really raised my eyebrows - how does insurance monitor all of such things?
Did you face such situations (as a seller or a buyer)? How did you deal with that?
Statistics: Posted by faanger101 — Sun Aug 04, 2024 8:44 pm — Replies 6 — Views 629