Money Moral Dilemma: Should we reveal hidden problems with our house?

Niv

On the day I moved in I received a text from the seller warning me not to use the toilet as it leaked, problem is she told be about 10minutes too late...


There were a number of issues not owned up to that if I had known I could have rectified easily and cheaper than discovering as I go. I did get a little cross with the seller for not telling me, but life's too short to hold a grudge I guess

NRTurner

I would suggest being honest about it. If it's the carpet, then the buyer may plan to strip the carpet out anyway.

Willbooo

I'm fairly sure there's a property mis-descriptions act the estate agents would need to follow for large defaults and neighbourhood issues and they could get in trouble if anything is untoward, which may result in you getting in trouble. Also, if these are first time buyers with very limited funds as it is - it would be completely immoral.

Anna1664

I say yes tell people - but only at the point when they've made an offer and you've accepted. If you tell people earlier they might be put off. If they are serious enough about buying that they've put in an offer that you've accepted then this shouldn't put them off and hopefully they won't lower their offer - they may have already offered you more than you min....if you are already at your min and they want to lower more just say 'no' - I doubt they will pull out of the sale because of it. It's much nicer moving into a house where you know there are the odd problem here or there than moving into one and then discovering them. Since moving in we've helped each other out - for example they told us some small issues they had had with the house and it's allowed us to keep an eye on them and know what's caused problems when they've come up. In return I managed to get about £300 to them they didn't even know they had in a bank account that they'd forgotten about.

tain

Impressions count for a hell of a lot. Every time you tell someone about a bump or whistle (which all houses have many of), it could be knocking thousands off the asking price.

I don't expect anyone to be that honest with me.

Although saying that, I'm close to buying my first home. Once everything has been exchanged and no one can back out, I will be asking for the owners for a full list of the repairs and problems, as I want to remedy them long before we move in! I'd hope at this stage they could be honest with me, and I'd be very clear that I hold no grudges for anything covered up initially.

Davesnave

Cimscate wrote: »

I meant gap, not sure what you meant, ha ha

Be assured, it's better you're unsure.:A

minicooper272

I always thought things like carpets were up for discussion for the the missives. You're not obliged to leave carpets, so if it's damaged that's not really relevant (not at viewing time anyway). If they ask for carpets to be retained as part of the missives, then you ought to tell them.


I wouldn't be in the habit of pointing out cosmetic things, a buyer expects a few DIY jobs when they move in. I think you have an obligation to point out issues like subsidence or rot though.

cloo

A hole in the carpet is a totally superficial issue - it might make a good impression of honesty to mention it, and no one's going to say 'I love everything about this house except that hole in the carpet, I'm going to have to turn you down'. Nor will they sue you if you don't tell them and they find it.


I once viewed a place where the owner was intent on pointing out the tiniest flaw, he even said he'd knocked a few grand off the price because of a handful of missing tiles in the bathroom, it really wasn't necessary!

REJP

Would you like to have a problem hidden from you when buying a house? Chances are a buyer will get new carpets anyway, so why not tell about the hole? If the information breaks the deal chances are the prospective buyers are time wasters anyway.
I was brought up to be honest and not lie. I have tried to live that way even though it has sometimes cost me promotion at work, but I can live with my conscience clear.
Caveat Emptor is a warning, not a cop out for not telling the truth.

Mickygg

I'm another for buyer beware. My last house was riddled with problems. I fixed most but not all and when I sold I was never going to highlight problems.
Highlight issues and give the buyer ammunition to lower price or walk away? No way I'll only shoot myself in the foot. My buyers had every opportunity to inspect and get professional checks done.