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There aren't any statistics on the subject, but it's my belief (from years of experience) that most home sellers do not disclose all the defects they're aware of. That's not to say that some sellers are being outright deceptive, but instead, many are simply unaware of the importance of providing a buyer with a thorough disclosure about their house or property. The awareness of this problem will help buyers avoid a lemon of a home.
What complicates the house purchase risk is that a large percentage of home buyers will hire an inspector who costs the least, without regard to the inspector's qualifications. Buyers assume and perhaps hope, that all home inspectors are about the same. And that just hiring an inspector is adequate enough. The potential future costs that occur from unqualified inspections, are greater than one might think!
In order to make a sound financial decision about any property, you must weigh the overall cost of buying that house.
You must also recognize that the disclosures provided by the seller only share limited insight into the property. Even homes and properties that appear flawless, have unseen problems. Every home does!
To protect yourself from the expenses of buying a bad house, I've prepared a special article entitled "Avoid A Lemon Of A Home." With it, you can be more prepared to side step these costly mistakes, and any serious setbacks to your budget. To get a free copy, just call Mike @ (303) 514-4000. Or submit the easy form below.
Image Attribution: lemon - stock.xchng
Michael Dagner is an expert in Denver-Area home sales.
Call today, (303) 514-4000, for help with your home sale or purchase.
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The Michael Dagner Group, Brokers Guild Cherry Creek Ltd, 7995 E. Hampden Ave, Ste 100, Denver, CO 80231 Map
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