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Defects Must Be Revealed

Disclosure laws make it important to reveal all material defects when you are selling a home. It is important to be absolutely candid with your agent and all buyers about the condition of the property. If there is anything wrong with the roof, the plumbing, the wiring or structure, it will probably not remain a "sleeping dog". The problem will probably wake up, snarl, growl and snap at your ankles at the precise moment your buyers feel their first stirring of buyers' remorse.

It is unlikely that defects will go undetected, because most buyers get a home 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 you may have forgotten to report. 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 real estate agent will provide you with a seller's disclosure form. Protect yourself by clearly describing any material defects prior to the sale.

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Real Estate Tips

Making An Offer >How Much To Offer

When you make an offer on a house, your biggest decision is how much to offer. Although you don't want to pay more than you have to, it is sometimes hard to predict how much is "enough" for the seller.

Some sellers price their homes at their bottom line and may be unwilling to negotiate, unless the house has been on the market for a long time. Others build in a little room for negotiation. Some sellers are more motivated than others to get their homes sold. Whatever your situation, it is hard to know what sellers will do until they are presented with an offer.

If your offer is very low, your finances might look shaky, and asking the sellers to pick up closing costs might just result in a refusal of your offer. If your original proposal is unacceptable, the seller will usually make a counter offer. While sellers like to get their asking prices, good listing agents prepare them for the possibility of receiving offers that involve some compromises.

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Real Estate Trivia

Q	What is the most unusual maintenance project done once each year in the United States?
A	The Niagara Falls is shut down for maintenance every year in the fall by diverting the flow of water for 24 hours using a massive series of pipes constructed in 1837.
See More Real Estate Trivia >

Fawn Brents, REALTORŽ, real estate agent and broker for Lee's Summit, Raymore and Kansas City, Missouri home listings, property and land for sale - NUMBER1EXPERT

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