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Disclosure Laws >Potential Problems

Every house has some "quirks", and some have material defects that may affect the sales agreement or the asking price. Placing a less-than-perfect house on the market is fine as long as you and your real estate agent give the buyers information on any "hidden defects".

Most litigation in real estate transactions involves the buyer suing the seller for failure to disclose a problem. Whether it is a leaky roof, dry rot, plumbing or heating problems, or a wet basement, most courts do not apply the "let the buyer beware" rule to real estate transactions. Even if the buyers had a structural inspection and you sold the property "as is," you may be held responsible for undisclosed defects.

Sellers have an obligation to disclose both obvious and hidden defects. Courts have not been sympathetic to sellers who have lived in a house and are in a position to know what works and what doesn't, but do not fully reveal the facts. This is one area where honesty is the only policy. Ask your agent for help if you are unclear about any aspects of the disclosure form.

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Q	At the doors of what famous temple do you find yourself when you climb the 'Stairway to Heaven'?
A	The Temple of Heaven in Beijing, China, attracts the local faithful and tourists.
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Suzanne Grace & Associates, REALTOR®, real estate agents and broker for Thousand Oaks, Newbury Park and Simi Valley, California home listings, property and land for sale - NUMBER1EXPERT(tm)

Suzanne Grace & Associates
Prudential Calfornia Realty
2860 Thousand Oaks Blvd
Thousand Oaks CA 91362
Phone: 805-341-4644
Fax: 805-496-0099
Text Message: 805-341-4644
Email: suzannegrace@NUMBER1EXPERT.com
Email: csgrace@verizon.net
MOVE with Grace! Suzanne Grace & Associates is a collaborative team of highly professional agents with unique skills designed to help you realize your dreams and goals as you build a future in real estate.

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