In any residential commercial transaction, a seller has a duty to disclose any material defect with the property. What is a material defect? Material defects are anything which would impact the value or desirability of the home. This is judged from the buyer’s perspective. A buyer who would not have purchased the property if they knew about the defect would be entitled to a claim for damages. For example, if you were sold a house and the seller failed to disclose that mold exists on the property, and you would not have bought the house if you had known about the mold, then you would be entitled to damages.
In California, the seller is required to provide the buyer with a comprehensive document known as the Real Estate “Transfer Disclosure Statement” or “TDS.” Sellers and their real estate agents must make a full disclosure in the TDS to avoid allegations of “fraud, misrepresentation or deceit.” The TDS covers a broad range of subjects from issues with the plumbing to cracks in the foundation and a host of other typical property issues.
Here is a list of the different types of non-disclosure issues.
- Non disclosure of leaky roof
- Seller non disclosure of toxic mold
- Seller non disclosure of past flooding
- Seller non disclosure of structural defects
These are only a small sample of the different non-disclosure issues. To know more about your rights feel free to contact our offices for a confidential evaluation.
- Death in the Home
- Neighborhood Nuisances
- HOA Information
- Water Damage
- Missing Items
- Remodels with Missing Permits or Violating Building Codes
- Other Possible Disclosures