Jan-31-2008
Do I Disclose Problems About My Property?
Almost all litigation relating to real estate involves buyers suing sellers for undisclosed structural problems. And, when it comes to leaking roofs, plumbing disasters, heating problems, dry rot, and flooding basements—the courts usually reject the “let the buyer beware” argument.
Putting a “quirky” or flawed property up for sale may be okay if you and the Realtor® give buyers full information on the house’s defects. But, even if you have had a structural inspection and sold your home “as is”, you may not be in the clear.
You are legally obliged to disclose all defects in the property you sell. Courts are very unsympathetic to people who have lived in seriously flawed homes and sold them to others without full disclosure.
Posted under Seller
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