The sale of real estate involves many details, and both buyers and sellers have important responsibilities. Sellers must provide accurate information about the property’s condition. Sometimes, sellers do not reveal certain problems or defects. This failure to disclose can lead to serious legal issues.
What are Undisclosed Property Defects?
Undisclosed property defects are problems with a property that the seller knows about but does not tell the buyer. These defects can include a range of issues. Examples are a leaky roof, a cracked foundation, or problems with the plumbing or electrical systems. Other issues, like pest infestations or mold growth, can also be considered defects.
Legal Duties of Sellers
Sellers have a legal duty to disclose important information known by the seller about the property they are selling. This duty exists to protect buyers. Generally, sellers must tell buyers about any “material defects.” A material defect is a problem that would significantly affect the property’s value or a buyer’s decision to purchase it. According to legal sources, a seller’s failure to disclose material defects can be considered fraudulent misrepresentation.
Buyer’s Actions
Buyers can take steps to protect themselves. A thorough inspection of the property is essential. Buyers often hire professional home inspectors. These inspectors can identify problems that might not be obvious. Buyers may also want to ask the seller direct questions about the property’s condition and request documentation.
Sellers may face legal consequences if they fail to disclose known defects. Buyers who discover undisclosed defects after the purchase may file a lawsuit. A court may require the seller to pay for repairs. In some cases, the buyer may be able to cancel the sale.
