Posted by Eric Scroggin on Friday, August 27, 2021 at 5:28 PMBy Eric Scroggin / August 27, 2021Comment
We get this question from time to time, and I always tell my clients the same thing: Yes. Basically, if you aren't sure, disclose it. Disclose, disclose, disclose.
For one, it's the right thing to do. Really, that's enough said.
But other than that, it's unlikely that you'll get away with not disclosing something. When the buyers apply for homeowner's insurance, that insurance company will pull a report that is very much like a Car Fax, showing any claims made against that property in the past. If something is on that report that isn't on the seller's disclosure, much of the trust needed for a successful transaction will be eroded.
However, even if undisclosed damage stays hidden throughout the entire transaction, the buyers are going to literally live in this home, so they will soon become intimately familiar with every nook and cranny, and there are...
Posted by Eric Scroggin on Monday, April 23, 2018 at 3:00 PMBy Eric Scroggin / April 23, 2018Comment
When most families decide to sell their home, their first step in the process is contacting an agent, though seldom without first sparing a thought to listing without one. In 2016 and 2017, for-sale-by-owners (FSBO’s) accounted for 8% and 7% of home sales, respectively. Though only a small piece of the proverbial pie, when you factor in the ~5.5 million existing-home sales in the U.S. each year between 2015 and 2018, that 7-8% begins to look fairly significant—roughly 300k to 400k homes per year. I understand their decision to list their homes without an agent. Sellers decide to take this road less traveled for a variety of distinct reasons, and for me to dismiss them as without merit (as many agents will do) would be both condescending and,...
Posted by Eric Scroggin on Wednesday, January 18, 2017 at 8:00 AMBy Eric Scroggin / January 18, 2017Comment
A recent study of more than 7 million home sales over the past four years revealed that the season in which a home is listed may be able to shed some light on the likelihood that the home will sell for more than asking price, as well as how quickly the sale will close.
It’s no surprise that listing a home for sale during the spring saw the largest return, as the spring is traditionally the busiest month for real estate. What is surprising, though, is that listing during the winter came in second!
“Among spring listings, 18.7 percent of homes fetched above...