Are Sellers Liable for Repairs after closing?
Home sellers and home buyers who make purchase agreements with each other are generally bound by their contracts’ terms. Many real estate purchase agreements contain language detailing just what repairs home sellers are responsible for completing before home sales close. Also, homebuyers sometimes have home inspectors or contractors check out the homes they’re buying to ensure completeness of any agreed-upon repairs. Home seller liability for repairs after a home’s sale closing is complicated, though, and liability may or may not exist. Says a particular website named homeguides.sfgate.com in addition there are so many outcomes that can possibly happen if the seller or buyer don’t stay aware of everything going on. Home sellers are generally liable for completing repairs they’ve agreed to make listed in the real estate purchase contracts they’ve executed with buyers. With that being said the home searchers are liable for making sure they catch everything in the house that needs a touch up or an adjustment. Also making sure for the seller the importance of hiring a legit home inspector, and termite inspector. Home sellers are required to give truthful information about home defects they know or should have known about. Also should be obligated of showing any repairs or additions that may have been done within the past years. It’s common in real estate for home buyers to demand their sellers cover repairs discovered after closing. Typically, buyers will demand their sellers cover repairs they believe their sellers should have known were needed prior to sale closing. However it is not mandatory for the seller to fix up the repairs that the specific buyer wants d0ne to the home. All kinds of important matters would have to take place into the sellers mind for example the amount of days they have had their home on market. A real estate purchase contract’s language is always examined whenever disputes about post-sale closing repairs arise between sellers and buyers. Real estate contracts containing no repair contingencies may free sellers from post sale-closing liability except in cases of possible fraud. It may sound a bit absurd, but it is not uncommon for situations and problems to arise in the closing that will end up as claiming fraud to the individuals wanting their repairs done. However, fraud or liability of home sellers for post-sale repairs is normally best handled by attorneys. Seek legal advice if you believe your home’s seller deliberately misrepresented its condition on disclosure forms or knew about defects and didn’t perform necessary repairs. Seller and buyers can usually be the third parties in the transaction due to the realtors representing them being in charge of what goes on the contract, and not only being in charge of writing or typing the contracts out. It is important sellers and buyers review the writings or typing’s formally even though they may seem lengthy at times. The importance of the contract should defeat the purpose of it feeling lengthy however most people do try to avoid them to just make the deal happen.