What Home Sellers Don’t Tell Buyers

January 14, 2010

in News

What Home Sellers Don't Tell Buyers

As buyers ease back into the battered real-estate market, they’re often hitting a stumbling block: fibbing by home sellers. Eager to unload their abodes, some sellers exaggerate the size of their lots or their houses. Others minimize their property-tax or utility bills, conveniently forget about pests, or play down flooding problems or noise. Real-estate experts say that while such misrepresentations aren’t new, the tough market of the past few years has made buyers more wary, partly because they can’t expect rising home prices to bail them out of costly mistakes. Buyers need to do their own due diligence and not rely exclusively on what sellers and agents say. Here are some of the common misrepresentations and white lies that buyers may hear as they shop for a house, according to real-estate experts and state regulators. [Read this article]

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