Having your property listed means that you are putting it into the market with the intention of selling it. However, most people prefer renovating their property before listing it so that the property increases in value. Some buyers prefer buying houses in their original state. You can still list your property without having to renovate it. Here are some of the things you need to know when listing your house in New Jersey.
Dos and Don’ts When Selling a House as It is
Selling your house in a bad condition can be a very dauting task. Not many people would want to buy a run-down house. You should first consider having your property under a local cash home buyer. Most of them will buy your house in the condition they are in. Do not lie about your house condition since this will be fraud. Your buyer should know exactly what they are buying. Do not put your house in an open market. Why? If a potential buyer reads that the property is in its original condition, he or she will automatically think it is riddled with problems.
Disclosures
This is a very important thing to do for property sellers. You need to disclose some information to your buyer before the actual transaction. The information should detail on the condition of the property especially that which affects negatively the value of the property. Intentional failure to do so will be considered as fraud and you could face criminal charges. Some of the disclosures include:
- Hazards. In case your property is at a state of increased risk of damage from disasters, you may need to disclose that to your buyer. This also applies to property that is potentially environmental contaminated.
- Death in the Home. Some buyers are superstitious and they may need to know whether somebody died in the house. This law varies from state to state so you will need to know whether your state requires this. For example, in Texas, death related to a natural disaster, you do not need to disclose that.
- Neighborhood Nuisances. This is noise or odor from a source outside the property. For many states you are required to disclose this. For example, in North Carolina, you are required to do so. Michigan and Pennsylvania too.
- Homeowners’ Association Information. You should tell your buyer whether the property is governed by a homeowners’ association (HOA). It is only fair for your buyer to know whether his or her house has somebody else looking after it.
- Repairs. Buyers need to know what kind of repairs were made to the property so that they could pay attention to them. In Texas, for example, you do need to tell the buyer whether roof repairs and structural repairs have been done.
- Missing Items. Buying a houseis a mind consuming process to buyers. It’s not surprising that they may not notice a missing essential part of the house. In some states you will need to disclose about missing stuff. This includes central air conditioning and some kitchen appliances.
- Water Damage. Water can cause a lot of damage to property especially if it gets into contact with electrical appliances. Buyers need to know if the house is in good condition when it comes to plumbing conditions. In Michigan, you should let your buyer know whether there is water in the basement and crawl spaces.
If you are based in New Jersey and looking to sell your property, you need to get a professional real estate agent to help you with the process. An experienced realtor is well versed with all the regulations that need to be followed when listing a property. This will save you a lot of research time and allow you to sell your property as soon as possible.
