When a house is listed for sale a sellers’ disclosure must be completed. Homeowners are obligated to disclose certain details, like wet basement issues, about the home to prospective buyers. If you think the house may be haunted that doesn't have to be disclosed because it’s subjective to your own personal ghost belief system. Whether or not the basement has ever leaked is black and white.
Actual New Jersey Seller’s Disclosure
ATTIC, BASEMENTS AND CRAWL SPACES (Complete only if applicable)
Yes No
8. Does the property have one or more sump pumps?
8a. Are there any problems with the operation of any sump pump?
9. Are you aware of any water leakage, accumulation or dampness within the basement or crawl spaces or any other areas within any of the structures on the property?
9a. Are you aware of the presence of mold or similar natural substance within the basement or crawl spaces or any other areas within any of the structures on the property?
10. Are you aware of any repairs or other attempts to control any water or dampness problem in the basement or crawl space? If “yes”, describe the location, nature and date of the repairs:
“My basement only leaks if there is a hurricane”
There is no designated area on the Seller’s Disclosure for stories. It is much more efficient to fix basement issues rather than disclosing them and trying to explain them away. Nearly all buyers hire a home inspector to examine their new house before closing.
If you want the house to be easier to show and thus easier to sell, the homeowner should have the basement made dry and healthy before the house is shown to prospective buyers. You can speed things along by analyzing the condition of your home and making necessary repairs now before the house is shown to prospective buyers.
What does the home inspector look at?
A home inspector will look at everything in the basement. Things you don’t want him to find are:
Efflorescence The white flaky stuff called efflorescence can show as a water line on walls and doors. Efflorescence is proof positive that water has been present.
Mold & Mildew Mildew is the odor that you smell when mold is present. Basement odors scare buyers. The chances are you won't even get an acceptable offer if mold and mildew are present. Mildew odors signal that a basement is too moist. Remediate the mold and fix the problem behind it before showing the house.
Dampness of Basements Buyers and home inspectors will look closely at the walls and floors for signs of dampness. The inspector might use a moisture meter to determine how much moisture is present.
Exposed Crawl Spaces Exposed earth in basements and crawl spaces can let moisture levels and radon levels increase past tolerable limits.
Cracks in Walls & Floors As I always say, no crack is a good crack. Therefore all cracks should be fixed immediately. Wall and floor cracks can let moisture levels and radon levels increase past tolerable limits.