How To Sell A Home With A Property Line Dispute
If you’re looking to sell your house, two things will help you out for sure – mortgage rates that are at their lowest and home prices that are through the roof. With these on your side, you might think that it’s impossible not to get a good deal. But, a legal problem with your neighbors could slam the door on your opportunity. You probably don’t want that to happen. So, in this article, we’ll teach you how to sell a home with a property line dispute.
Now, we all know that this is one of the most common causes of real estate litigation. And there’s no surprise there. However, it shouldn’t be a surprise for your buyers either. It might be tempting to keep it to yourself. But as a seller, you’re legally obligated to disclose some information about your home to potential buyers. And this certainly is one of them.
Luckily, things aren’t as grim as they may seem. In this article, we’ll take a look at all the different types of property disputes. We’ll also explain what you need to tell your buyer, and we’ll give you a tip or two that will improve your chances of making the sale. So, let’s dive right into it.
What is a Property Dispute?
There is a whole range of potential property disputes that you might be dealing with. However, the most common among them are conflicts about boundary lines and different lifestyles. Here are some examples that you may or may not find familiar.
• Noisy neighbors. Most often, these are people who play loud music in uncanny hours. They shout a lot and disturb the neighborhood. Chances are, you’re not the only one having a problem with them.
• Overgrown trees or vegetation overstepping into neighbor’s property. Here, we’re talking about trees that are blocking the sun or the view from your backyard.
• Shared items in need of repair. If you and your neighbors use the same fence or steps, there might be a problem with who should fix it if it breaks.
• An urgent need to access the neighbor’s property. In this scenario, problems occur if a leak or something similar appears, and you need to enter your neighbor’s yard to fix it. If they refuse access, you’ve got a dispute on your hands.
This list clearly isn’t too long. But, any type of property dispute can bring challenges to selling your house. On the other hand, you shouldn’t be worried sick about it either. We wouldn’t write about how to sell a home with a property line dispute if it wasn’t possible, would we? So, let’s see what you need to know.
What Do You Have to Disclose to a Buyer?
There’s an enormous burden on a buyer to ensure that the property they’re buying suits their needs and expectations. It’s a thing called Caveat Emptor or buyer beware. However, before you hop onto bestlongdistancemovers.com and start looking for the best moving deals out there, you must give the buyer certain information. And this is especially true if they can’t learn about these things any other way.
Now, as you already know, there’s a ton of paperwork you need to fill out when selling your home. And among all of those, there’s a thing called a disclosure form or statement. It’s a vital part of the selling process. With it, you let buyers know that you’re not aware of any material defects with the property or other red flags. Property line issues are a part of it. So, if there are some problems, you’ll have to note them.
And if you want to sell your house, you shouldn’t try to hide anything. Doing this will probably shoot back in your face as soon as it’s discovered. However, if you’re honest from the start, things are far more likely to go your way.
What Can You Do About it?
The best path you could follow is resolving the dispute before you even start the selling process. This might not be the easiest thing to do, but it’s more than possible. Here are some things you can consider and that can help you do it.
Seek Expert Advice
If you’re not sure what to do, seeking professional advice is always your best bet. So, schedule yourself a consultation with an attorney, and see what they have to tell you. Maybe you’re stressing over nothing, or perhaps you need to act fast. If your neighbor files a lawsuit, you could get a notice of pending actions against your property. And that’s not a good thing if you want to sell.
Look For a Survey
If you still have all the original purchase documents, go through them. You should find a survey when you bought your home. There, you’ll see a description of your property’s measurements and a survey plan in which you can find your boundaries.
However, if you can’t find that information, you can appoint a land surveyor. They will measure your land and mark out your boundaries clearly. The cost will depend on the size, but it can be more than worth it.
Speak to Your Neighbors
The best possible way of resolving the issue is for both you and your neighbors to recognize the problem and agree to solve it. Show them your boundary proof and see if you can make a deal about it. You’ll need to make a lot line agreement and sign it. However, make sure that the attorney checks it so you can be certain there are no legal problems you should know about. The last thing you need is falling into a deep debt hole because you wanted to cheap out on legal advice.
As you can see, there are quite a few paths you could go if you want to learn how to sell a home with a property line dispute. However, all of them consist of honesty and truth. If you want things to work out in your favor, don’t try to hide anything. Be straightforward with your buyers, and they’ll understand. However, if you think you can solve everything before it’s time to close the deal, it’s a thing worth pursuing. Not only will you be able to sell quicker, but you’ll also get a better price. And that’s all that matters.