How Long Are You Liable After Selling a House?

Chattanooga Property Solutions finds that many property owners are asking, “Can I sell my house fast in Chattanooga?” while also voicing concerns about having long-term legal exposure for liability for defects or problems with the property.

How Long Are You Liable After Selling A House

How long are you liable after selling a house? While future liability is often a problem for sellers of distressed property, a sale to a cash buyer can eliminate the hassle and stress of complaints down the road.

Does the Risk of Liability Extend Past a Closing Date?

In each state, a statute of limitations generally governs how long a buyer has to bring a legal claim against a seller for claims of undisclosed defects with property. These limitations can depend on the terms of a written disclosure often required by law during a sale. 

Sometimes sellers provide specific written warranties or guarantees about property conditions. The bottom line is that the written contracts and agreements between the parties usually govern how long the potential for future claims exists as long as they comply with the law. 

Under standard listing arrangements with realtors and sales to ordinary buyers who take advantage of all disclosure requirements, sellers can face exposure long into the future for some types of claims regarding property defects. 

However, there are secure ways to avoid the risk of future claims about the title to property or the condition of the structures or land. 

What You Can Do To Avoid Long-Term Liability

Under Tennessee law, purchasers can waive the right to receive a seller’s disclosure statement, which is typically required.

The experts at Chattanooga Property Solutions evaluate the circumstances involved with your property when making a fair cash offer. They waive a formal disclosure, accepting the property in an “as is” condition. You will receive the written waiver of disclosure and warranty claims before signing closing documents.

Chattanooga Property Solutions also accepts responsibility for insuring the title as the purchaser of the property and will consider any title issues before making a cash offer for your property. 

The transaction is structured to fully and finally wrap up the seller’s legal obligations at closing. 

Let Chattanooga Property Solutions Work With You To Avoid Future Liability from a House Sale

If you sell a property in Chattanooga or East Tennessee, there are often risks that remain after closing regarding defects in the house. Chattanooga Property Solutions helps sellers by making cash offers for properties in “as is” condition. 

Let us help structure a cash sale that can remove concerns about how long you are liable after selling a house. We will evaluate the circumstances with the property you want to sell and make a fair cash offer and a closing date of your choice. 

How long are you liable after selling a house? Contact the experts at Chattanooga Property Solutions today at (423) 454-3070 to learn how to make a clean break while selling a house that needs repairs. Achieve peace of mind with cash in hand!

You may also like

How Soon Can You Sell a House After Buying It?

How Soon Can You Sell a House After Buying It?

How Much Do You Lose Selling a House As Is?

How Much Do You Lose Selling a House As Is?

How to Sell a House Without a Realtor

How to Sell a House Without a Realtor

Turn your house into cash today

It's fast, easy & stress-free.

We’d love to find out if we can provide a solution to your real estate problem. There are never any obligations and it only takes a few minutes to get started. Simply click the button above, or call us now at the number below.