Non-Disclosure Issues- Potential Litigation?
Posted in Real Estate Legal Discussion By Jim W Hildreth Real Estate Mediator, Tuesday, April 1, 2008.This Old House by Jim W Hildreth April 1 2008
The Old House sits at the top of the hill, affording good views of the Mother Lode Community of Sonora, CA a Gold Rush City.
The home is for sale and access to the home is parking on the city street and climbing rows of stairs.
A potential buyer made an appointment to preview the home with a Buyers Broker.
The first words from the buyer was "the
retaining wall that supports the parcel of land is slipping"
Upon further inspection the wall extended 8" from its original support and is sloping towards the city street.
With potential heavy rains, the potential for a wall collapse is evident.
The buyers Broker asked the listing Broker of any disclosures and the response was the agent had never noticed the buckled wall.
California civil code 2079 make it very clear that on one to four residential property include a
visual inspection to observe conditions which might affect the market value of the property and then entering those observations on a Property (Transfer) Disclosure Statement.
The Buyers Broker would have the same obligations.
If the agents missed these disclosures, a future disaster for liability exposure would go beyond the potential collapsed retaining wall.
It is the wise agent, who will make a visual inspection and disclose.
Jim W Hildreth Real Estate Mediator
www.RealEstateMedaition.org
JimHildreth@RealEstateMedation.org
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Submitted by Michael Wallender on April 2, 2008 - 3:04am.
This is a situation comparable to the classic disclosure case: Easton v. Straussburger, 152 Cal. App.3d 90 (1984), which spawned the utilization of seller property condition disclosure laws.
Submitted by Michael Wallender on April 2, 2008 - 3:04am.
This is a situation comparable to the classic disclosure case: Easton v. Straussburger, 152 Cal. App.3d 90 (1984), which spawned the utilization of seller property condition disclosure laws.
Submitted by Elizabeth Jones, SRES,RSPS on June 11, 2008 - 1:32pm.
New Jersey, has a seller's disclosure but it is not required. When representing buyers I always ask for it. When representing sellers I always tell them to answer what they know, just the facts. The problem I have with all this is I am not an expert HOME INSPECTOR nor is my client, if the client makes a mistake on the form both of us can be held liable. I think that's why we have the INSPECTIONS. I would never buy a home or other property without knowing what I am getting my self into.
Elizabeth H Jones,SRES,RSPS
Real Estate Agent
Diane Turton, Realtors
Wall Office
2383 Hwy 34 South
Manasquan, NJ 08736
ejones@dianeturton.com
http://www.dianeturton.com/elizabethjones
http://elizabethhjones.homesandland.com