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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 
What kind of home construction is considered to be the safest in seismic areas?

A 
Straw-bale homes in seismic zones have proven resilient enough to withstand the shock of earthquakes.
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Barbara Mann, REALTOR®, real estate agents and broker for Greensboro, Summerfield and Oak Ridge North Carolina home listings, property and land for sale - NUMBER1EXPERT(tm)

Barbara Mann
RE/MAX Realty Consultants
2731 Horse Pen Creek Rd.
Greensboro, NC 27410
Tel: 336-217-9302
Fax: 336-217-9301
Email: BarbaraMann@Number1Expert.com

My number 1 priority is providing superior service to my clients in every real estate transaction I am involved in.

CRS Equal Housing GRI MLS REALTOR RELO


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