These 5 Things Can Kill Your Home Sale

You’ve read all the articles about getting your home ready to sell, and you have followed the advice and suggestions they offer. Your yard and entryway are attractive, the house has great curb appeal, you have painted where needed, and removed clutter and excess from every room. Your home looks great, and you have found a top-notch real estate broker. But is something lurking that can prevent your home from selling?

Mandatory Disclosure Laws

Although each state has disclosure laws that mandate homeowners to disclose any problems that exist with the property being sold, many sellers are not aware of some defects that exist in their homes. The issues could have existed long before the current owners purchased the property, or they may be the inadvertent result of home alterations. When problems are eventually recognized by the new buyers, lawsuits are the usual result. Regulations affecting disclosure can differ in each state. Did you know that, in spite of all your hard work, one or more of the following conditions can kill a home sale?

Sale Killers

Paying a few hundred dollars for a home inspection can catch some problems and save money down the road, but even the best inspectors are restricted in what they can see. Quite often a home inspector is not able to check under the home. If you suspect your home has one or more of the following problems, it would be worth it to pay for a thorough and more expensive inspection.

•   Lead Paint – 1978 was the year that lead paint became banned for residential use. If your home was built prior to that year, it is very likely some older layers of paint contain lead. As the lead paint deteriorates it creates lead-contaminated dust in the home. Federal law requires the seller of any home built before 1978 to comply with notifications and disclosure obligations regarding lead paint. 

•   Asbestos – For many years asbestos was a major component in a variety of home construction products. Asbestos was used in siding, insulation in ducts and attics, vinyl floors, and a variety of glues. Asbestos is a scary substance and very costly to have removed. If the item that contains the asbestos is in excellent condition and will remain undisturbed, the seller is not obligated to remove it. If buyers suspect asbestos is present, they may walk away from the sale. 

•   Mold – One of the scariest environmental problems a home can have is black mold. Homebuyers are repulsed by any signs of mold. Dampness in walls, ceilings, and floors indicates mold of some kind is present and growing. Some mold causes allergic reactions, and some types are very toxic. You can have a mold inspection performed and receive a documented form showing the home is free of the toxin. This is a big plus if you live in an area where mold is prevalent. 

•   Radon Gas – Minnesota State Law requires sellers disclose radon information to buyers. Simply put, it makes financial sense for a seller to have radon testing performed before listing the home for sale, or at least prepare for the buyer to perform a test at the time of inspection.

•   Cracks In Foundation – When a house settles, it can cause cracks in the foundation. Signs of settling include doors that won’t close properly, visible small cracks in walls or floor tiles, and windows that stick. You will need to consult with a structural engineer to determine if a foundation crack is responsible. The repair may be expensive if the problem has been neglected for a long time, and the home may be difficult to sell, until the repair is made.

When you get your home ready to put on the market, remember these five problems that could kill a sale in minutes. Have your home checked, and take care of any issues before you list your home. It’s better to invest some money on repairs than to lose a sale. 

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