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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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Q	Where is the world's largest art gallery?
A	At the Winter Palace and Hermitage in St. Petersburg, Russia, visitors would have to walk 15 miles to see the 322 galleries which house almost 3 million works of art.
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Mary Charters & Associates, REALTOR®, real estate agents and broker for Gaithersburg, North Potomac and Darnestown, Maryland home listings, property and land for sale - NUMBER1EXPERT(tm)

Mary Charters & Associates
Mary Charters & Associates / Keller Williams Team Realty
301 Inspiration Lane
Gaithersburg, MD. 20878
Phone: 301-590-5500
Fax: 301-330-3772
Email: info@marychartersandassociates.com
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