Home sellers must be aware that they should disclose any material issues with the property. A potential buyer needs to know exactly what they are purchasing.
This includes things like home renovations, upgrades and even additions to the property. Maybe a homeowner decided to renovate their kitchen on their own, so they did not get any permits, but just did the work on the weekends. Another homeowner may have had an addition added to their house, putting on a sunroom or an attached garage. They did pull the permits and hired a company to build the addition.
In both of these cases, those renovations likely need to be disclosed at the time of the sale. This helps buyers understand what work has been done on the property, how much that real estate is worth and what potential issues they may run into.
Were there any related defects?
Another thing to keep in mind is that sellers need to disclose any material defects, both past and present.
For example, perhaps the kitchen renovation was carried out because there were significant water issues, leading the ceiling to collapse. The buyer needs to know that there were plumbing issues or roof leaks in the past, that those defects damaged the home, and that the renovations were done to repair the property after the fact.
Addressing disclosures during real estate transactions is important, as is keeping records during construction projects, home renovations and the like. Those who are going through these parts of a real estate transaction need to know what legal steps to take and what obligations both parties have.
