What you need to disclose when selling your house as-is in Christchurch

When it comes to selling a house in Christchurch, many people give serious consideration to how they want to sell it? Are you one of them? If yes, do you want to do a pre-listing home inspection and get the repairs done first? Or is it merely handing over your property as-is at a price without considering what you are selling out?

Let’s take a closer look at exploring what selling a house as-is consists of.

There are certainly some times when selling your home will make sense. It depends on your property’s condition after an unfortunate event like an earthquake, your situation, and the story behind why you are selling your home.

Real estate is so much more than a simple transaction. It’s really about what’s important to you, why you are selling your home, and then assessing it.

Sometimes it is financial distress position the seller is going through. Sometimes they don’t have time because they are getting ready to move on job relocation or move out of the area.

If you say- I don’t want to do repairs, It merely means to sell a home as-is. It means that you are selling the property in its current state with an understanding that no repairs will be made and that the house will come with all of its existing faults and issues that as-is term itself is a legal definition in which the buyer will probably have to sign some paperwork acknowledging that he or she understands that they are buying the property in its current condition with no repairs to be made whether it’s good bad or indifferent.

It’s all on them moving forward. So now that you know what it is selling an as-is house means, let us take a look at what selling a home as-is does not mean. Unfortunately, many sellers think that they are entirely off the hook whenever they say that they are selling their house as-is.

Christchurch and Canterbury as a whole have suffered many earthquakes and aftershocks from the 2010 earthquakes. To be a fair seller, if the seller has lodged claim(s) with the EQC and the sellers’ private insurer in respect of damage caused to the property in the earthquakes, upon settlement, the seller must do all things required to assign any remaining benefit in the claims to the buyer.

It is essential to understand that you still need to go through the appropriate course of making your full disclosures when you sell a home as-is.

Even when you have an agent representing the buyer, you should disclose that these agents have a fiduciary duty to their clients to make sure that they are disclosing anything they observed as a real estate practitioner that should be reasonably discerned from a real estate practitioner’s point of view.

Some of those items could include:

• Evidence of a structural defect like a significant crack in the foundation and subfloor.
• The appearance of mold or termite damaging the roof that has leaks or any kind of water damage.
• The next thing is if they know a Methamphetamine level in the home is higher than the acceptable level.
• Any major known plumbing or electrical issues, any significant external matters such as obnoxious noise levels
• Any known legal issues such as a caveat on the title, liens, or judgment against the property, or if the property is pending litigation need to be disclosed by the real estate agent to the prospective buyer.

Just because you are selling a home as-is doesn’t take you entirely off nor does it negate your responsibilities as a house seller.

WeBuyProperty.co.nz are private house buyers and can buy your house as-is with no comeback and no liability.