MarketWise
We have inspections ready to go to sell our home in an “asis” sale. Do we have to disclose problems with our house even if it’s an “as-is” sale with current inspections?
Absolutely. A prominent real estate attorney looked up the oldest legal case in California of an “as-is” sale. It was the sale of a gold mine over one hundred years ago. The judge ruled in favor of the buyer because the seller knew or should have known that the so-called gold mine lacked actual gold. “As-is” indicates the property will be bought and sold in its present condition without seller repairs, improvements or upgrades. It has nothing to do with sellers disclosing all known conditions about a property that may adversely affect the desirability or value of the property.
Our listing description notes that our townhouse will have key safes on the grounds to accommodate agents’ showings. I work from home and can show our home anytime. We don’t like the idea of having a key outside of our possession. Are these lockboxes necessary?
Sellers who are homebound and will not be leaving morning, noon and night can successfully handle a no lockbox situation. However, stayat-home sellers need to greet visitors with a smile, wait on the patio reading magazines and let buyers and agents conduct the home tour. Buyers and their agent will visit a property more often and longer if no one is home. Otherwise, they feel like they are invading your privacy, which will produce limited and hurried showings.
Our real estate agent states our listing has become stale and needs to be relisted. That seems to mean taking the house off the market for a week or two. Does this strategy work?
Yes and no. Your agent must have a plan to change the look and feel of the listing. Some sellers will replace the carpet, paint or landscaping. Some home sellers might decide to hire inspectors and make repairs while others just lower the list price. Your agent’s strategy only works in concert with meaningful changes to the listing itself.
Silicon Valley Broker Pat Kapowich is a full-service Realtor. He can be reached at Pat@ SiliconValleyBroker.com or (408) 245-7700.