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

NicNicP

We didn't tell our buyer that the bath tap would swivel round when you tried to turn it on/off or that the wallpaper in the chimney alcove (covered by the tv) didn't quite meet at the bottom due to the walls not being square. Similarly, our vendors didn't tell us that most of the doors didn't shut and that the side door of the garage didn't have a key to lock it and such like. As long as they've not major issues then I'm sure most buyers expect the odd thing.

Wizzbang

matt2baker wrote: »

we looked at a property yesterday, and the people currently renting there told us more than we'd discover from the owner!! VERY useful info :T

Yes, this happened to us too when looking. Put us off buying a property with major damp issues! The tenants disclosed this to us, not the landlord aka seller!

rallp54

Cimscate wrote: »

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

Google it !

happyinflorida

I have come to learn over the years that if I'm interested in a property I will go round it with a fine toothcomb - I would flush all the toilets, run ALL the taps, ask for the heating to be turned on etc.
This is due to not trusting people anymore!
So if you want to be honest then I would tell people about all the problems if they put an offer in or when they go round the property with you.

hazyjo

Depends.


I'm selling - and won't be pointing out every fault. We have one blown window which mists up but it's behind the voile curtain in the lounge. I expect it'll be picked up on a survey, but it's one I'm ignoring as it's easy to live with and not a dealbreaker.


I know there's a short bit of drainpipe missing next to the porch as it came up on my survey, but that really is about it that I know of!


Oh, God, yes I nearly burnt the bloody house down a few months back as I left a tinned candle lit and forgot. It was right at the bottom and I could barely light it anyway, and it just went out my head (I seriously never do that!). It had obviously been burning in the tin all night. Tin was buckled (my OH told me, I was too upset to even look at it) and there's a big round black solid circle on the mantelpiece. I'm still undecided whether to tell people. I think I might, but not on a first viewing. It's hardly going to stop them buying, so might point it out later!


Jx

D.W.27

On a moral level should you tell them? Yeah, it's probably the right thing to do, but would I? Honestly, probably not. Why drive down the price of your home if you don't have to? Buyer beware.

NicNicP

hazyjo wrote: »

Depends.


I'm selling - and won't be pointing out every fault. We have one blown window which mists up but it's behind the voile curtain in the lounge. I expect it'll be picked up on a survey, but it's one I'm ignoring as it's easy to live with and not a dealbreaker.


Jx

We found one in our new house when we took down the net curtain. It wasn't picked up by the surveyor though.

Davesnave

hazyjo wrote: »

. I expect it'll be picked up on a survey, but it's one I'm ignoring as it's easy to live with and not a dealbreaker.

I'm noticing that that many of the things mentioned on this thread, including the original 'dilemma,' are not exactly deal-breakers either.

And in the final analysis, all live-in vendors can say, "What's the problem? We lived with it like that!"

crmism

It is the intending purchaser's responsibility to have your property surveyed prior to exchange of contracts. This usually takes two forms.

The first is a mortgage survey, and invariably the surveyor makes what is little more than a cursory inspection to make sure that the mortgage is adequately covered; in quite a few cases, the value of the land the property is standing on - let alone the property itself - is more than sufficient, and I dare say that some surveyors won't bother to look inside if the ratio of loan to value is small.

The other is a full structural survey. Here, the surveyor looks at everything, right down to mis-fitting door catches, chipped skirting, settlement cracks, etc, and he'd certainly want to check the condition of the flooring throughout as well as in the roof space.

You keep out of the way while a survey takes place, and you don't divulge anything.

Above all, remember that the price a buyer pays reflects the value of your property "warts and all" and if he or she discovers the hole after exchange or completion, too bad, as you are selling your home in that condition. The survey is there to protect the intending buyer and, if he or she doesn't arrange one, it's a risk they take.

lincroft1710

"Yes the house is a bit nearer the cliff edge than 10 years ago. Minor problem really, saves you having to do all that gardening"