Suing Seller for Non Disclosure
Discovering defects in a property you have just purchased is never good. Read on to learn more.
Property Defect Definition
The International Association of Certified Home Inspectors says a defect is any issue on a residential property with the potential to cause a “significant, adverse impact” on the value of the property, or a defect causing a risk to be considered unreasonable. In Arizona, Realtors must assist clients by disclosing nay defects prior to the sale of the property through the Seller’s Property Disclosure Statement (SPDS.) When this is not done, the Realtor may lose their license. These disclosures must include damage caused by, mold, lawsuits, leaks, fires and floods. When this is not disclosed, the buyer may sue the realtor and the client.
Property Disclosure Reasons
In most states material defects must be disclosed for a valid sale of the home to go through. The seller has to create a notice of all the property defects. Although new properties do not have the list we just mentioned as a buyer you can try to rescind the purchase when you have never received a disclosure. Alternatively, you may not have a case against the buyer but instead against the inspector. Generally, when the defect existed before the purchase of the home and errors have not been disclosed and monetary damages may result.
Craig Cherney is a trusted client advisor and a sought after real estate lawyer and expert witness who is hired by the nation’s top Real Estate Litigation Attorneys to help resolve their litigated real property matters. Craig has appeared as a testifying expert witness before judges and juries in California, Arizona, Nevada and other jurisdictions across the country. Craig Cherney, Esq. Expert Witness Real Estate. 480-399-2342. If you are litigating an easement case, Craig Cherney might be able to help you advance and win your case.