The real estate buying and selling process can be complicated for a wide range of reasons in Los Angeles. One common reason for a real estate dispute is a seller’s failure to disclose a defect in his or her property. A seller is obligated to disclose any potential problem to prospective purchasers that may impact the property’s value.
Property owners generally must complete disclosures for any problems of which they are aware. Concealing major defects is deemed illegal. The state of California is particularly detailed about its disclosure requirements.
Because home sellers do not always know about all of the defects their properties might have, it may behoove the potential buyer of a property to have a professional inspect this property. Sometimes the seller may have his or her own inspection done to find out the status of his or her property. If the seller’s inspector brings to his or her attention a problem, the seller must be prepared to disclose it if it has the potential to impact the home’s value.
Sometimes sellers fail to adhere to laws requiring them to disclose serious issues with their homes. In these situations, it is within the right of a person who ends up buying a problem property to seek to hold the seller accountable through the civil court system. An understanding of what facts have to be proved in this type of real estate dispute will likely be essential to succeed in such a court case in Los Angeles and elsewhere in the state of California.
Source: findlaw.com, “Required Real Estate Disclosures When Selling Property“, Accessed on Jan. 12, 2017