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Mike Narlis
All agents are NOT alike! Find out why I am a top real estate expert. Call me: 757-373-5934.

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"He was adept and innovative."
"He helped us understand what we were looking for and find it. He was cognizant, adept, and innovative. He rates a 10."
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"He was there for us, every step."

"Mike was great. I would use him over and over. He was there for us, every step. He gives 110% at his job!" 

Phillip C and Jennifer A. White-Bisek

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Real Estate Tips
Disclosure Laws >Potential Problems

Every house has some "quirks", and some have material defects that may affect the sales agreement or the asking price. Placing a less-than-perfect house on the market is fine as long as you and your real estate agent give the buyers information on any "hidden defects".

Most litigation in real estate transactions involves the buyer suing the seller for failure to disclose a problem. Whether it is a leaky roof, dry rot, plumbing or heating problems, or a wet basement, most courts do not apply the "let the buyer beware" rule to real estate transactions. Even if the buyers had a structural inspection and you sold the property "as is," you may be held responsible for undisclosed defects.

Sellers have an obligation to disclose both obvious and hidden defects. Courts have not been sympathetic to sellers who have lived in a house and are in a position to know what works and what doesn't, but do not fully reveal the facts. This is one area where honesty is the only policy. Ask your agent for help if you are unclear about any aspects of the disclosure form.

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Real Estate Trivia
Q 
What information does nearly every state in America require the seller of a home to reveal to the buyer?

A 
Most states require disclosure of any existing problems or conditions that could affect the value of the house.
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Mike Narlis, REALTOR®, real estate agent and broker for Chesapeake, Virginia Beach and Norfolk, Virginia home listings, property and land for sale - NUMBER1EXPERT(tm)

Mike Narlis
William E. Wood & Assoc.

128 Battlefield Blvd. North
Chesapeake, VA 23320
757-373-5934
Fax: 757-410-3475
mikenarlis@NUMBER1EXPERT.com


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