Richmond VA Real Estate: If You Know It, Disclose It
Recently I was speaking with a potential client who wants to list their Richmond VA home for sale after the New Year. As we were discussing the situation, they mentioned they would like to be pro-active and have a pre-listing home inspection. Fantastic! I love a seller who plays offense vs. defense!
Although Virginia is a buyer beware state, meaning it is up to the buyer to do their due diligence such as a home inspection, Virginia also has a Property Disclosure Statement a seller signs when listing their house for sale. This is where the seller states any knowledge of defects, such as they know of a structural issue or have information that the home has radon. Basically, if you know it, you disclose it!
In another recent example, a client of mine was purchasing a Richmond VA home for sale. During the 10 day home inspection period, it was discovered the property has mold and needs remediation. When I contacted a representative for the listing agent, they mentioned the seller had a pre-listing inspection and already had a quote for the mold. RED FLAG! The seller signed the Property Disclosure Statement saying they had no knowledge of any defects when in reality they knew they had mold - a defect! I don't believe the seller was intentionally trying to deceive the buyer, however I believe they lacked the education needed to be in compliance with the law.
If you are thinking of selling your property, be sure you select the Best Richmond VA real estate agent
who will look out for your best interest and that includes protecting you from making any false statements. There are many steps to the Richmond VA home selling process and we are here to help you round the bases SAFE! Questions? Contact your Richmond VA Realtor, Shannon Milligan at the RVA Home Team
with eXp Realty, today and win with integrity!