We just went through an insane period of real estate transactions. There was a buyer frenzy. It was common for a seller to have a dozen offers for a property, many of them over asking price. Some buyers were desperate to compete and come away with the coveted prize. One of the things that people did to make their offer more competitive was to offer to waive home inspections. This is a scary proposition.
So what if you ended up with a house with some major problems – roof needs replacing, mold behind walls, rotting floors? That depends. Is it possible that the seller misrepresented the property?
In Real Estate Law, misrepresentation deals directly with misstating or hiding some material or feature of the property that is being sold or purchased. The failure to disclose certain information like damages, past incidents, foundation problems or concerns and other details that a homeowner has the right to know is against the law.
The most common feature that sellers hide from their buyers is structural or foundational features. These are the most expensive to fix and may not always be as noticeable to the average home buyer.
The law requires you, to disclose all information you know about the property.
Do you think you have a case? Come in and talk to Ben Winter.
Ben Winter, P.A. focuses its practice in the areas of real estate law, Social Security Disability and Workers Compensation in St Petersburg, Florida. For more information, go to our web site www.benwinterlaw.com or call (727) 822-0100.