Buying a home is a terrific event in someone’s life. You are embarking on an adventure. You and your family feel exhilarated. You landed this great place where you and your loved ones intend to live happily for many years. Everything seems absolutely rosy.
To your dismay, however, one big catch has emerged. You suddenly noticed alarming malfunctions or damage at your new residence that should have been revealed to you by the seller. What’s your next step going to be?
Property sellers are obligated by law to disclose major home issues to buyers
People who sell their home are compelled by law to tell a buyer about significant difficulties with it. Incidental everyday wear, like a few unavoidable marks here and there on a wood floor, doesn’t rise to that level. But big consequential things like a termite infestation, faulty plumbing or holes in a roof do because they can detract from a home’s value.
How far along are you in the buying process?
This is a key question. If you are under contract to buy the home but have not yet taken possession of the title or signed all the documents to close on the deal, you do not legally possess the property yet. You still have an opportunity to discuss this matter with your real estate agent. Hopefully, the glitches will be rectified by the seller and the sale can take place.
If you now own the home and learn about problems you weren’t told about
You will probably need to figure out if the seller, their home inspector or listing agent can be held responsible if they were aware of problems with the home and did not inform you. A professional who understands the complexities of this type of situation can help you sort it all out.