A Tip for Buyers and Sellers in Missouri
If you're buying or selling a home in Missouri, understanding property disclosures is crucial. Missouri follows a "caveat emptor" (buyer beware) approach, meaning sellers aren’t required to disclose all property defects upfront unless asked. However, state law does require disclosure of specific known issues, such as:
- Flood Zone & Water Damage: Missouri has many flood-prone areas, so sellers must disclose if the property has been affected by flooding or water damage.
- Termite & Pest Damage: Missouri homes, especially older ones, are susceptible to termites. Sellers must disclose any known infestations or damage.
- Structural Issues: If there are known foundation cracks or past repairs, they should be noted.
- Environmental Hazards: If the home has lead-based paint (common in homes built before 1978) or asbestos, it must be disclosed.
Tip for Buyers:
Request a Seller’s Disclosure Statement and carefully review it. Also, hire a licensed home inspector to check for hidden issues that might not be included in the disclosure.
Tip for Sellers:
Even though Missouri doesn’t require full disclosure, honesty is the best policy. Providing clear information can prevent legal issues down the road and build trust with buyers.
Buying or selling in Missouri? Knowing these disclosure rules will help you avoid surprises! For more information, give Results Realty and Auction a call at (573) 341-8200.