After selling your home in Philadelphia, there are issues you must take responsibility for even though you’re no more the owner of the house. It’s natural for you to think that you’re free of any responsibilities that concern your old house, but in the real estate industry, it is not so. As a homeowner, you’re still responsible for your home even after you’ve sold it for a specific period.
You may be wondering how long you have to be responsible for any problem that arises even after you’ve sold your house. This article will explain what you need to know in subsequent paragraphs:
How Long Are You Liable After Selling A House?
You’re still liable for any issue regarding your house even after you’ve closed the sale for at least six years. To be clear, you’re only accountable for any that was misinterpreted by the buyer during closing. According to the Misinterpretation Act of 1967, the seller must take responsibility for any complaint the buyer may have, especially when he wasn’t aware of such a problem.
This means that as a seller, you’re liable for any problems the buyer notices for the first six years after buying the house. After six years, you’re no longer obligated to take responsibility for any problem in the house.
How Can You Reduce Liability?
It’s not fun to be held accountable for problems that arise in your old house. So what must you do to be free of liability or at least reduce liability?
You can achieve this by giving out as much information as you can about your home to the buyer before closing the sale of your house. The more information you share, the better. Do not try to hide any detail about the house just so you can sell it for a good price.
Also, when giving out information about your house to the buyer, go through the appropriate channel like the TA6 Seller’s Property Information Form. Going through this channel serves as a form of evidence In case the buyer wants to deny that he wasn’t informed about certain problems.
The Best Way To Sell Your House
If you want to sell your house without having to bother about being liable, you must sell to a reliable cash home buyer in Philadelphia.
At Home Cash Guys, we buy houses from our customers at the best market price. Selling to a cash house buyer is a fast and cost-effective way to sell my house fast Philadelphia in record time.
As cash house buyers, we buy houses Philadelphia in any condition meaning you don’t have to make repairs or renovations before selling to us. Instead, we will offer the best price for your home and cover the expenses of renovations if any.
Looking for how to sell my house Philadelphia? Look no further because we at Home Cash Guys have got you covered.
Contact us today to learn more about our services.
