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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.

See All Tips In The "Disclosure Laws" Category >
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Real Estate Trivia
Q 
What is the longest construction time for a private residence?

A 
The Winchester House in San Jose, CA, was under construction for over 38 years.
See More Real Estate Trivia >


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Peg Maloney, REALTOR®, real estate agent and broker for Omaha, Nebraska home listings, property and land for sale - NUMBER1EXPERT

Peg Maloney
RE/MAX Real Estate Group

9805 Giles Rd
Omaha
Ne 68128
402-598-3965
800-248-6647
402-594-2000
Fax: 402-593-0454
peg@maloney.com

Licensed to sell real estate since 1982, Peg has been selling the entire Omaha metro area, including Papillion, Millard, Bellevue, Ralston, and Offutt Air Force Base. With a proven track record, and references from many satisfied buyers and sellers, Peg gives extraordinary service to families coming to or leaving Omaha. She has become a Certified Distressed Property Expert, a Certified Relocation Specialist, an Accredited Buyer Representative, a Certified Luxury Homes Marketing Specialist, a 203K Rehab Loan Specialist, a member of the Real Estate Cyberspace Society and a Seniors Real Estate Specialist. You'll enjoy the process of buying or selling because Peg makes it so easy and fun!

ABR CLHMS CRS Equal Housing GRI MLS REALTOR SRES



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