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How Do We Sell Our Home and Protect Ourselves from Liability for Repair Work?

How Do We Sell Our Home and Protect Ourselves from Liability for Repair Work?

Full question:

We are selling an old house in need of repairs on contract. We have had notices from the city to fix or repair the home so we turned in a offer to purchase between us and the buyer. House is titled under our LLC. What forms do we need to sell this and protect our interest as they will have friends and family helping with repairs we don't want to be liable for someone getting hurt? We thought Lease option or Deed for contract but that keeps it in our name.

Category: Real Property
Subcategory: Sales
Date: 04/07/2025
State: Kentucky

Answer:

A release and waiver of liability may be used to protect a business from the foreseeable damages that may occur in the scope of being employed to perform a service. A release form will often be upheld as long as the contract for services is entered into freely and the damage isn't caused by an intentional, willful, or reckless act.

This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.

FAQs

How to sell a house that needs some repairs?

To sell a house that needs repairs, start by assessing the necessary fixes and determining which ones to address before listing. Disclose all known issues to potential buyers to avoid legal complications. Consider selling as-is, which may attract investors looking for fixer-uppers. You can also use a purchase agreement that includes a waiver of liability for repairs, protecting you from future claims related to the property's condition.

How long after buying a house can you sue the sellers?

The timeframe to sue sellers after buying a house varies by state and the nature of the claim. Generally, buyers can sue for breach of contract or misrepresentation within a few years from closing, depending on state laws. For issues related to property defects, the statute of limitations may be shorter. It's advisable to consult with a local attorney to understand your specific rights and deadlines.

What is the best way to sell a house that needs repairs?

The best way to sell a house needing repairs is to be transparent about its condition. Consider pricing it competitively to reflect the repairs needed. You might also explore options like a lease option or selling to investors who specialize in renovation projects. Providing a clear disclosure statement can help protect you from liability after the sale.

Are the sellers of a house liable for repairs after the closing?

Typically, sellers are not liable for repairs after closing unless there was a specific agreement stating otherwise. Once the sale is complete, the buyer assumes responsibility for the property, including any repairs. However, if the seller concealed known defects or misrepresented the property's condition, they could face legal action. Always disclose any known issues to mitigate liability.

What devalues a house the most?

Several factors can devalue a house significantly, including structural issues, outdated systems, and poor location. Major repairs needed, such as roof replacements or plumbing issues, can deter buyers. Additionally, neighborhood crime rates, school quality, and market trends also impact property values. Regular maintenance and timely repairs can help maintain a home's value.

What happens if the seller and buyer cannot come to terms on the buyer's requested repairs?

If the seller and buyer cannot agree on requested repairs, the buyer may choose to walk away from the deal or negotiate a lower price to account for the repairs needed. Alternatively, they could ask for a repair credit to handle the issues after closing. Clear communication and documentation of all requests and agreements are essential to avoid misunderstandings.