I’m here today to answer the question, “Can I sell my home as-is?” Long answer short: You can. However, there is a common misunderstanding you should know about. Here’s a hypothetical situation you could run into:
Let’s say there’s a Brian from Illinois who calls me and says, “Hey Dave, I’m the successor trustee of a property. My parents have passed away in Southern California and their property has a lot of wear and tear on it. I’m out of state and don’t want to deal with it, so I want to sell it as-is.”
“You have to disclose what you know.”
Brian is well within his rights to do this, but there is a common misunderstanding we need to clear up. Most people think that they don’t have to disclose material facts that affect the value or desirability, but that’s not true. Even if you’re a successor trustee or a bank, you’re going to have to fill out disclosures about anything that is wrong with the property that you know about.
It is your responsibility to disclose any material facts that could affect the desirability of any property. You may have a lot of knowledge or you may not have any. It’s still required that you disclose what you know and you’ll have to pass those along to the buyer.
The best thing to do is over-disclose because you don’t want any lawsuits coming back to you. If you have any questions about this topic or anything else relating to real estate, don’t hesitate to give me a call or send me an email. I would love to hear from you.