When preparing to purchase or sell a property, many individuals may consider it vital to take steps to protect their interests through every stage of the process. While individuals in Pennsylvania who are facing a similar situation may hope that this transaction will go as smoothly as possible, there are some scenarios in which conflict may arise. Failure to disclose damage or defects remains a common cause of real estate disputes and similar issues can prove hotly contested matters.
Possible defects
Experts indicate that there are various types of property issues to include when filling out a disclosure form prior to selling a property. Defects or leaks in a property’s roof are common examples of issues to address and failure to disclose such information could prompt intense disputes. Water leaks or damage on any part of a property and issues such as cracks in a building’s foundation are also issues that one might be required to include on a disclosure form.
Addressing damage and defects might not be the only thing required, as including information on issues such as property line disputes may also be necessary. In some cases, sellers may also be required to inform potential buyers of unsafe conditions such as the presence of lead paints or asbestos. While disclosure forms are intended to protect the interests of both parties, there may still be some scenarios in which conflict may occur, especially if allegations of failure to disclose defects arise.
Disclosure disputes
Real estate disputes that stem from allegations of failure to disclose defects can be complex matters and the outcome of the situation could take a significant toll on all parties involved. Those who encounter similar issues might find it helpful to speak with an attorney as soon as possible for guidance in making informed choices about their available options. An attorney can evaluate the situation a client is facing, provide insight on the best course of action to take, and assist in preparing a strategy with which to safeguard his or her future interests.
