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Real Estate Tips
Disclosure Laws >Defects Must Be Revealed

Disclosure laws make it important to reveal all material defects when you are selling a home. It is important to be absolutely candid with your agent and all buyers about the condition of the property. If there is anything wrong with the roof, the plumbing, the wiring or structure, it will probably not remain a "sleeping dog". The problem will probably wake up, snarl, growl and snap at your ankles at the precise moment your buyers feel their first stirring of buyers' remorse.

It is unlikely that defects will go undetected, because most buyers get a home inspection before they are contractually obliged to complete the purchase. Even if the problems do not surface before the closing, your liability does not end after the closing for any defects you may have forgotten to report. Buyers almost never accept misrepresentation graciously, but they can usually deal with a house that is short of perfection if they know what they are getting into from the beginning. When selling your home, your real estate agent will provide you with a seller's disclosure form. Protect yourself by clearly describing any material defects prior to the sale.

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Real Estate Trivia
Q 
What does the abbreviation PITI stand for?

A 
Principal, Interest, Taxes and Insurance are the four major items included in a monthly mortgage payment.
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Robertson-O'Sullivan Team, REALTOR®, real estate agent and broker for Greenville, Winterville and Ayden, North Carolina home listings, property and land for sale - NUMBER1EXPERT(tm)

Robertson-O'Sullivan Team
Aldridge & Southerland Realtors

226 Commerce Street
Greenville, NC 27858
252-531-4116
patrickrobertson@NUMBER1EXPERT.com


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