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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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What is an encumbrance against a property, which may be voluntary or involuntary?
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There are many different kinds of liens: a tax lien, a judgment lien, a mortgage lien, and a mechanic's lien. |
 See More Real Estate Trivia > |
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KARI CHRIST w/ THE CHRIST TEAM
Keller Williams Realty
823 S. Austin Avenue, Georgetown, TX 78626
Phone: 512-863-2220
Direct: 512-784-8181
Fax: 512-868-6917
Email: Kari@KariChrist.com
You will love the home buying or home selling experience because we'll do it together! Real Estate is our passion and it never grows old because every client is unique, every client has different wants, different needs, different styles, different personalities. What fun!
TRUST is what we build our relationships on both in our personal lives and our professional lives. We live by the GOLDEN RULE and we want it show vividly in everything we do!
Those who have worked with us know that we listen, and what is important to YOU is important to us. We realize that little things can make a big difference.
We realize you have many choices when it comes to Real Estate Agents, and we will strive to not only meet your expectations, but to exceed them.
Give us a call or drop us an email today.
    
 
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