Buyer Tips | Seller Tips | General Tips | Real Estate Glossary
Every house has some "quirks", and some defects that go a lot
further than that. Placing a less-than-perfect house on the market is fine if
you and your Realtor give the buyers information on any "hidden
defects".
Most litigation in real estate transactions involves buyers suing sellers for
failure to disclose something. 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 the property was sold "as is", you may not
get off the hook. 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. This is one area
where honesty is the only policy.
Contact Anita Kay
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