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Real Estate Disclosures: Home Sellers: If You Don't Tell the Buyer Everything... Your Neighbors will!
Most lawsuits in real estate transactions, are the result of buyers feeling that the seller did not tell them all they knew about the house, before they bought it. Most home sellers have no idea how easy it is to land in court with their home buyer. A few steps outlined here can help, if followed properly.
When selling a home, by law, the home sellers have a very serious obligation of disclosing in writing to the home buyer any and all defects that they know about the property. Buyers look at a problem that was hidden from them as cheating them, once they get legal counsel, the nightmare begins, not only does the seller gets sued, most of the time, everybody that was involved on the transaction gets named as co-conspirator.
In court, the attorneys for the buyer will paint this picture of the seller and his agent, and the home inspector and everybody else getting together and plotting their strategy to hide problems with the house from the buyer. They will use ugly words like Deceit, Misrepresentation, Fraud, etc, to describe what you did or did not write in your disclosures. The new buyers will swear that they ... more

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