5 Things Sellers are Legally Required to Disclose About a Property

Posted On Monday, 27 September 2021 13:15

Property is one of the biggest investments that someone can make in their lifetime. As a result, it's important for buyers to know everything they can about the property before making an offer. 

Sellers are required by law to disclose any information that may affect the value of the property or increase risks associated with buying it.

  1. 1. Neighborhood Nuisance

A nuisance in a home setting is anything that makes the occupants of the property have some discomfort. It could be that noise coming from a nearby busy road or construction site. Or even odor from a nearby junkyard.

When selling the house, make the buyer know about the potential factors which act as a downside of being at the place.

The state laws, however, differ when it comes to the information sellers should provide. There are some states which need more comprehensive details. For instance, in Pennsylvania, you need to include even the agricultural nuisance around.

  1. 2. Pest Problems

Pests infestation can make a living at a place unbearable. Take bed bugs, for instance, and the night attacks compromise the quality of life. Whenever the property seller fails to disclose information on the pests around, the new house occupant has the right to sue.

Finding real estate advocates is the best thing as they understand the principles around real estate transactions. This means that they quickly identify the seller's missing information in the disclosure, which makes the case viable.

The advice from a lawyer is crucial in making you see how the seller knew everything regarding the real estate conditions, including the pests. In case any members of the family develop some medical problems due to the pest infestation, you may need to file for some compensation.

  1. 3. Hazards

Hazards are sometimes present at a property and come in different forms. One of them could be natural disasters such as strong winds in the area. There could also be potential environmental contamination of the soil due to the previous mining activities decades ago.

Sometimes, it could be the asbestos roofing that is producing some fine elements. If the surfaces have lead-containing paint, the seller needs to make it clear in this.

The same case should happen if there is urea-formaldehyde insulation. Knowing this as a buyer makes you sure of whether you want to proceed with the purchasing or not.

  1. 4. Water Damages

Water is only safe and helpful when in the proper channels. Each time it finds its way to places not required, damages are likely to occur. Even worse, the house structure tends to lose its strength which is risky for the whole house.

Therefore, a seller should elaborate on the past or recent water damages resulting from the leaks. However, it is a great thing to look for a home inspector who will check for evidence of water damages. They do checks on the plumbing systems, roofing, and basement.

  1. 5. Missing Items

The various systems at a building work when all the components are available. For instance, when it comes to lighting fixtures, a discord to the bulbs will mean not light into the rooms after switching on. It calls for a property seller to give information on the different accessories lacking at the home systems. If something is lacking in the plumbing fixtures, such details ought to be present during the disclosure.

A good real estate transaction displays transparency. A seller on one side has a lot to do by providing a clear description of the property's condition. This makes the buyer sure of what he or she is buying. Some things to include in the disclosure document are hazards, pest problems, nuisance, water damages, and missing items.

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