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Real Estate Agents questions, answered by experts

Yes, a seller is legally required to disclose any known fire damage when selling a house, including damages that were repaired. That includes damages to structural components and all major systems, as well as water damage, chemical damage, and smoke damage related to the fire. Sellers use a property disclosure statement, which is regulated by each state individually, to disclose fire damage.

Yes, home additions almost always increase a home's value and can be a good investment by enhancing both its utility and square footage. The actual return depends on several factors, including the type of addition, quality of work, and local market conditions. Key additions like extra bedrooms, bathrooms, and larger kitchens tend to offer the highest returns. For example, adding a primary suite might result in a 63% return on investment, while a sunroom may yield around a 49% return. For the best results, additions should be well-planned to integrate seamlessly with the existing structure.

Yes, a tile roof will increase the value of your home more than an asphalt shingle roof. Not only do tile roofs look nicer and add more to your curb appeal, but buyers will understand that roof tiles last longer than most other materials, so they can expect minimal maintenance and a long roof lifespan after closing, which often means they’ll be willing to pay more for a home with this roof option.

The age of the well, installation methods, and maintenance logs can affect your home insurance premiums and any potential future claim. Mortgage companies can request proof of water quality before they approve the loan. Review all well information, including the Shared Well Agreement, before you make an offer to purchase.

Both conventional loans and FHA loans are types of mortgages, but they have a few key differences. Conventional loans are backed by private lenders without any government backing, and FHA loans are guaranteed by a government agency. FHA loans are designed to be easier for borrowers with low credit scores or income to qualify for.

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