Some people buy homes not to live in but to renovate and resell. It’s important to know the liabilities associated with these properties in case you help a client buy or sell one.
Failure to disclose is the most common type of errors-and-omissions claim associated with flipped properties, 劳拉·普罗斯说, Director of REAP/REALAX Data Analytics at CRES, 加拉格尔公司. CRES is a 德州2021十大正规彩票app经纪人® risk management partner.
A buyer may allege that renovations were not properly constructed, 允许, 或者掩盖现有的财产损失. The buyer may sue the seller and name you in the lawsuit too.
透明是最好的防御
如果你代表卖方, Prouse recommends that your seller clients disclose in writing that they specifically bought the home to flip it. “They should let buyers know it is completely refurbished,” 她说. “可以考虑附上前后对比的照片. Ask sellers to provide all the permits and renovation receipts. Sellers can try to put themselves in the buyers’ shoes—what would the buyers want to know? 买方应该知道卖方所知道的.”
Seller clients should consider putting in writing a recommendation to get inspections and to check all permits. They can also share with buyers their own purchasing documents. “Your clients could attest that they never lived in the home,” Prouse adds. “That gives the buyer a different perspective and encourages them to do a little more investigating and inspecting.”
尽快披露
Your seller clients should disclose all relevant information related to a flipped property as well as providing the standard disclosure forms so buyers and their broker can make informed decisions.
By providing this information before going into the option period, buyers can determine if any additional inspections need to be made. “It’s about being up-front with buyers,” 她说.
如果你的客户想买翻转房
If you represent a buyer who wants to purchase a flipped home, Prouse suggests that your client ask for documentation of all renovations and request a copy of the seller’s transaction file from their purchase. 也, recommend in writing that your buyer retain third party experts to inspect the property and check permits. “A bedroom that looks like it used to be part of a garage is a big red flag,” she advises.
It is also advisable to have buyers get an appraisal if they are paying cash. 这可以防止买家支付过高的价格.
抱怨往往接踵而来
While there are fewer recent claims involving flipped properties, CRES is still seeing claims from transactions that took place a few years ago, 她说. There is often a lag between the sale and the claims.
Some claims may arise after unusual weather events such as heavy rains, she explains. A buyer may remove renovations after a hundred-year flood to discover preexisting structural damage.
Flipping can be a success for everyone involved. 透明度和文档化, the parties can feel confident in the transaction, 你可以减少你的负债.