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Real Estate Tips

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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Real Estate Trivia

Q	Where would you go to visit the largest ancient castle in the world?
A	You would travel to Prague, Czech Republic, to see the Prague Castle, built in the 9th century, with a total surface area of 18 acres.
See More Real Estate Trivia >

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Rhonda Mortensen Long & Foster Real Estate Inc. Bethesda Gateway Office 4650 East West Highway Bethesda, Maryland 20814 Office: 301-907-7600 Home: 301-585-1180 Toll Free: 800-762-0294 Fax: 301-907-6610 Email: rhondamortensen@NUMBER1EXPERT.com Email: rhondamortensen1@gmail.com Together we will work as a team to buy the perfect house or sell your current home. My role is to listen and understand your needs, wants, requirements and timelines with 100% clarity. Then, with my market expertise, we will develop a solid plan of action. Rest assured, I will be in contact with you daily with new leads so that we can move swiftly against timelines. I will be available to you at all times via phone, email or in-person – whichever style of communication you prefer. Contact me now!

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