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Real Estate Tips
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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Real Estate Trivia
Q 
Over what famous building is aircraft forbidden to fly at any time?
A 
No aircraft is permitted to fly over the Taj Mahal in India.
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The Renee Team, REALTOR®, real estate agents and broker for Naples, Fort Myers and Bonita Springs, Florida home listings, property and land for sale - NUMBER1EXPERT(tm)

The Renee Team
Keller Williams Elite Realty
24851 S. Tamiami Trail
Bonita Springs, FL. 34134
Phone: 239-281-4794
Fax: 239-949-8339
Email: reneemoore@NUMBER1EXPERT.com


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