OK, everyone knows you must disclose material defects in a property. We also like to think of the disclosure process as an opportunity to make needed repairs and inform our sellers what codes have changed since their original purchase. This can help the property sell faster and reduce the risk of potential future legal claims. If you inherited the property you intend to sell, you might consider having a home inspection done prior to listing it with a real estate agent. This will take away many of the concerns and allow you to address issues or alert your agent of the repairs you are willing to undertake or the ones you may not be. In the real estate business we are asked to disclose the existence of: lead paint, radon gas, type of insulation, age of septic, age of roof, issues with plumbing, amps of electric service, type of windows, siding, dryness of basement, maintenance of the chimney, and any other factors effecting the property. To ignore a known defect or any issue effecting the property is likely to be seen as a misrepresentation, neglect by nondisclosure or an outright fraud.
Have you ever witnessed a defect that was obvious but not in the disclosure?
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