Home sellers in Kansas don’t have to disclose very specific information about their properties unlike in other states, but they are still required to be transparent about a couple of things.
Whether you plan to sell a house in Kansas City or in Wichita, real estate agents could help you comply with these necessary disclosure obligations. These normally include potential environmental risks within the property, its physical condition and defects, and certain limits on your part as a seller — like paying for home inspections.
The State’s Disclosure Laws
You don’t need to hire a professional home inspector to verify the disclosed information, as this usually falls under the responsibility of the buyer. The state law only dictates that you should be honest, particularly with certain problems or damages that you knew at the time of disclosure. It does help, however, to have an inspector’s report in some cases.
For instance, your listing could disappear from the market faster if you can support disclosed information with an expert’s findings. You can get a copy of a general disclosure form from the Kansas Association of Realtors. It’s not necessary to fill in all of the listed information, except for the one that shows the property’s material defects, but any empty field in the form could cause buyers to be skeptical.
The state’s “Deceptive Practices and Acts” protects buyers from acquiring a house with problems that were not properly disclosed during negotiations. Don’t risk being at the defendant side of a lawsuit by skipping some important information, just so you could close a sale as soon as possible.
Why Hiring an Inspector is Beneficial
The purpose of hiring an inspector allows you to remain in control of negotiations. When you wait for a buyer to do this, there could be problems that you may not know until you receive the inspection report. Hence, buyers could use this information as a bargaining chip to lower the price tag. In this case, you could be forced to sell below your initial offer.
Despite median homes being quite cheap in Kansas, buyers know that they could find other properties somewhere else even if there is a limited supply. An average property in the state costs $150,600, which is the 10th cheapest in the U.S. A house that sells for $200,000 often spans 1,580 square feet. Given these numbers, you could either give in to a buyer’s scaled-down offer or make necessary repairs.
If you choose to lower the price, do your research on the cost of repairs for certain problems. You could simply deduct the price from the property’s market value, which should be taken by the buyer as a compromise for the inconvenience of fixing the issues after they move in.
Consult a real estate agent about the best way to sell your house without any legal complications. A good property broker should not only aim to find the highest bidder, but also make sure that the transaction is done as seamless as possible.