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Patrick Dearborn LLC is one of The Top Selling Real Estate Experts Find Out More > |
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“Patrick has been a pleasure to work with."
“Patrick Dearborn has been a pleasure to work with. He knew so much about Marbella Lakes and GL Homes that it made the entire process easy. We built a new home in Marbella Lakes and really feel that Patrick worked very hard to ensure our home was perfect. He was there for our walk thru and with us EVERY step of the way! We would HIGHLY recommend Patrick Dearborn with John R Wood Realtors to everyone.”
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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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| Q |
Where can you find the world's largest residential palace?
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| A |
The Istana Nurul Iman, palace of the Sultan of Brunei, includes 2,152,782 square feet, 1,788 rooms, 257 bathrooms and a 110-car garage. |
See More Real Estate Trivia > |
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