Disclosure Issue

[bryan45419]

What is the name of your state? Ohio

My wife and I are selling our home (by owner) which experienced sewer back-up flooding this past spring under extremely heavy storm conditions. The previous owners did not fully disclose the issue (and we can document that they DID know about it), which definitely rubbed us the wrong way, and we do not wish to repeat this deception for the next owners.

We have spent a substantial sum to repair this problem. We have had the main sewer line and water supply line (which our plumber accidentally damaged while digging up our front yard) completely replaced, from our house out to the street. We also installed a back flow valve which should close off the main line should any back-up pressure build under a heavy rain.

The finished basement has been professionally, chemically treated for bacteria since the sewage back-up incident occurred, and we have sealed/painted the walls and installed new carpeting and padding. We have had professionals verify for us that the basement is clean and free of mold. Humidity measures near our walls are below average, indicating a "dry" basement.

We have had no sewage back-up issues since the one occurrence in the Spring.

Anyways, while we are going to fully disclose the flooding and the repairs on our disclosure sheet, I am wondering what we are ethically obligated to tell prospective buyers as they tour our home. While I want to be as honest and upfront as possible, I am concerned that if I say too much (even if positive) it may unnecessarily scare buyers away.

I would greatly appreciate anyone's advice on how to balance the need to be upfront with potential buyers along with our desire to sell the home. For example, do I need to proactively bring the subject up when a buyer tours the home, or should I stay silent and let the Disclosure form serve its purpose on its own?

Thanks very much for any insight you can provide.

[Souix]

Originally posted by bryan45419
What is the name of your state? Ohio

My wife and I are selling our home (by owner) which experienced sewer back-up flooding this past spring under extremely heavy storm conditions. The previous owners did not fully disclose the issue (and we can document that they DID know about it), which definitely rubbed us the wrong way, and we do not wish to repeat this deception for the next owners.

We have spent a substantial sum to repair this problem. We have had the main sewer line and water supply line (which our plumber accidentally damaged while digging up our front yard) completely replaced, from our house out to the street. We also installed a back flow valve which should close off the main line should any back-up pressure build under a heavy rain.

The finished basement has been professionally, chemically treated for bacteria since the sewage back-up incident occurred, and we have sealed/painted the walls and installed new carpeting and padding. We have had professionals verify for us that the basement is clean and free of mold. Humidity measures near our walls are below average, indicating a "dry" basement.

We have had no sewage back-up issues since the one occurrence in the Spring.

Anyways, while we are going to fully disclose the flooding and the repairs on our disclosure sheet, I am wondering what we are ethically obligated to tell prospective buyers as they tour our home. While I want to be as honest and upfront as possible, I am concerned that if I say too much (even if positive) it may unnecessarily scare buyers away.

I would greatly appreciate anyone's advice on how to balance the need to be upfront with potential buyers along with our desire to sell the home. For example, do I need to proactively bring the subject up when a buyer tours the home, or should I stay silent and let the Disclosure form serve its purpose on its own?

Thanks very much for any insight you can provide.

***You need to disclose every detail of the problem on a separate sheet of paper, just as you described above and give the buyer a copy of it. Do not feel that you will scare potential buyers away. If the buyer really loves the house they will buy it regardless of the problem. Buyers tend to get suspicious when sellers only sign a Disclaimer instead of a full disclosure, especially a For Sale by Owner. So its best to say more than less. Good Luck!***

[HomeGuru]

Clarification: disclose all even if it's a book. Include copies of contracts, paid invoices, inspections etc.

[bryan45419]

Just wanted to follow-up. You were right...even though we disclosed the backflow problem and the repairs made, we found buyers who loved the house and were able to make the sale! Many of our friends recommended against full disclosure, but I'm definitely glad we went forward with it.

Thanks for your advice!!!

[HomeGuru]

Originally posted by bryan45419
Just wanted to follow-up. You were right...even though we disclosed the backflow problem and the repairs made, we found buyers who loved the house and were able to make the sale! Many of our friends recommended against full disclosure, but I'm definitely glad we went forward with it.

Thanks for your advice!!!

**A: and thank you for your follow-up. Telling the truth pays dividends.
The Bible tells you so.