Thursday, November 02, 2006

Seller Obligations

What the seller must tell you: The seller of a new or existing home must disclose any hidden and dangerous defects that he or she knows about (faulty stairs, unstable supports, loose railing); the seller cannot cover up defects to prevent you from seeing them (painting over water damaged areas on a ceiling that would give away a roof leak); and if you ask any questions about the home, the seller is supposed to answer them truthfully.

At the same time, if you are buying a used home, it can be difficult to determine what the owner new about and what is exactly hidden or even dangerous. It can be hard to prove that a seller new about a truly dangerous condition, such as rotten flooring and sub-standard conditions.

In this manner, it is very important that you do all that you can to protect yourself before paying any money or signing anything. A preliminary investigation or inspection, a good, protective contract of purchase, and constant vigilance are basic requirements.

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