13 Sep 2013
A Property24 reader asks:
I am selling my house and I have a leak in the roof that you can only see in winter, but I have no money to do the repair. Should I tell the potential buyers about this? What if no one then wants to buy my home?
Francois Venter, Director of Jawitz Properties advises:
You may think that admitting to faults on the property could mean putting a buyer off, or that you won’t get offers if you don’t have the leak fixed, but some buyers may be open to negotiating with you. Perhaps they will ask if you will accept a slightly lower offer in return for you not having to fix the leak before they move in.
You must also realise that some interested buyers may bring in professionals to do their own inspections, so the leak will be discovered one way or another.
A buyer may accept this, but as you live in the house and are aware of the leak, the kinder thing to do would be to tell buyers about it. The buyer who ends up with your home may be more than happy to fix the leak after moving in.
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