“I am thinking of short selling my house. There are some problems with the house. I know that most home buyers get a home inspected before they buy it.
Do I have to tell them about the problems? Or, should I leave them for the inspector to find? Will.”
Here was our answer. Will, we would disclose everything to the home buyers. It doesn’t do you any good to hide any problems.
The inspector will probably find them. But, if any are missed, then the buyers could sue you later on for damages.
I don’t know all the legal ramifications. In my opinion, they could sue you for hiding a problem that you knew about.
Who needs more legal problems? Besides, even if the house sells for less money as a result of the problems, then your lender will take the loss.
Remember, in most cases you can’t make any money off of the short sale. And even if you do, that amount will probably not change if your home sells for a lower value.
Your lender would have to factor those problems into the price it could get if it was selling the home after a foreclosure.
When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (281) 602-8050
Thinking about a loan modification? Our Houston loan modification kit has the instructions you will need to get a loan modification approved with your bank.
Thanks for reading this, Alice Monroe.
Alice is a Real Estate Agent at Corali Realty.
Alice Monroe specializes in loan modification assistance and short sales in Houston Texas. Houston Loan Modification Help, Houston Short Sales. Houston Short Sale Realtor. Houston TX Short Sales. Houston Realtor.
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Alice Monroe, Corali Realty, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?
Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.
However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.
We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.
This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.
You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.
The views expressed here are Alice’s personal views and do not reflect the views of Corali Realty.
This information on Houston Short Sale Question: Do I Need To Disclose Anything Wrong With My House? is provided as a courtesy to our viewers to help them make informed decisions.