Many real estate sales include a home inspection contingency, which details the buyer’s and seller’s options in the event that issues with the property are discovered during the home inspection. Having a thorough understanding of the inspection contingency clause and what your liability is for unfinished repairs is essential as a real estate agent.
The Most Commonly-Requested Repairs
The most commonly-requested and required repairs include:
- Structural defects
- Chimney problems (damage, creosote build-up, etc.)
- Code violations
- Safety issues
Any repair that renders the home uninhabitable or unsellable without it, including a crack in the foundation or highly-flammable creosote in the chimney, should be repaired before the sale.
As a real estate agent, risk management has to be a part of your business practice. Residential property disclosure forms are critical when it comes to limiting your liability and protecting you from having any liability for unfinished repairs. Property disclosure forms should clearly state the condition of the property and detail any information that the owner knows about the property, including things detailed by the property inspector.
Latent defects also must be disclosed. Real estate agents generally have an obligation to disclose any latent defects that they have knowledge of. They should also disclose any non-confidential facts that they are aware of, before or after inspection, that could play a strong role in whether or not a buyer decides to buy a property. For example, if you are aware of an asbestos problem in the home but it was for some reason not noted on the property disclosure form or by the home inspector, it is your duty to pass that information on to the buyer. The same thing is true for high radon levels or the presence of lead paint.
Clean Sweep Is Here to Help!
Call Clean Sweep Maryland today at 410-558-1111 for professional chimney sweep, slate roofing and duct cleaning services designed to keep all of your listed properties clean and safe for sellers and buyers. If you have a prospective home buyer or home seller in need of a slate roof inspection or repairs, we are here to help.