When a home seller sells a property the seller must disclose hidden facts. Seller disclosure can include previous damage, homeowners association fees, or any number of other things. Look here for more information about what is required in seller disclosure.
When you buy a home the seller is supposed to tell you certain things under seller disclosure - items that may not be visible to the naked eye. Does this include a home's proclivity to water damage? Whether seller disclosure requires a seller to discuss water damage depends on the state where the home is located. Each state has different seller disclosure laws.
A buyer asks about a condominium sale. She purchased the condominium because the living room had a partition in it. Before the condominium sale is finalized, the condo board wants the seller to remove the partition. The buyer no longer wants to go through with the condominium sale. The changes to the unit may have violated zoning laws or homeowners association regulations. What are her rights?
A home owner asks about who should pay for repairing his home's foundation. He discovers his home needs foundation repair five years after buying it. Whether to sue the seller depends on the cost of the foundation repair and the extent of the foundation's damage.
When you're a first time home buyer one of the choices you need to make is what kind of real estate agent you want to work with. If a real estate agent represents both the buyers and the sellers that person is called a dual agent. In addition, the sellers are obligated to tell you about any unusual about the home as part of seller disclosure. If they omit something, such as a septic system that's off the property, you may have to contact a real estate attorney.
Hiring a professional home inspector and conducting a final walk-through before closing on a house will protect you from surprises in case the seller fails to disclose problems with the house. Most states have seller disclosure laws, but hiring a home inspector will further protect the home buyer from any surprises. The home inspector will walk-through the entire home and make sure the seller has disclosed every bit of damage and give an estimate on repairs, so the buyer knows what to expect before closing the sale.
A home buyer lives in a duplex next to a noisy neighbor. He wonders if the seller should have told him about the noisy neighbor. The buyer spoke to the neighbor but it did not help.
A home buyer discovers his air conditioning unit that he thought was new is now broken and wants to hold the seller accountable for not disclosing it. If the buyer can prove the seller intentionally didn't disclose the age of the air conditioner, he may be able to sue the seller for damages. To win a seller disclosure case, you must prove that the seller knew, or should have known, about a particular problem.
Seller's property disclosure statement is supposed to list all known problems. If you buy a home and discover problems that weren't mentioned in the seller disclosure you may decide to sue the seller. Seller disclosure cases are tough to win because you have to have proof that the seller knew of the problem in order to win the lawsuit.
A home buyer purchased a home that turned out to have major septic problems that weren't disclosed at the time of the purchase. The septic field should never have been approved by the health department. In some states, if you have to sue the seller for a failure to disclose a material issue that should have been disclosed to you, you may also be entitled to recover your costs of suing the seller for a recovery.
A home buyer is in the process of purchasing a property that has a potential septic problem. A septic specialist will help determine how much repairs will cost so the buyer can include the repair in their real estate contract. With so many homes on the market, a buyer should not feel like he needs to negotiate with the seller on the cost of repairs.