Failure to Disclose
Buying a home is an important investment. If you move in and encounter problems that cost you hundreds or thousands of dollars in repairs that you didn't know about at the time of purchase, you should contact Tony Malley, Attorney at Law.
Section 5.008 of the Property Code as written by the Texas State legislature requires the seller to complete a disclosure of problems with the property. The only recourse a buyer has if the seller fails to disclose problems, is to terminate the contract.
What Must be Disclosed?
If someone died or was injured on the property as the result of a crime, this must be disclosed by the seller. If the death was from natural causes, disclosure is not necessary.
Problems with the structure of the house, its appliances, termites, mold, and dozens of other faults of the property must also be disclosed by the seller and the buyer's agent involved in the sale of property in Texas. Examples include:
- Issues with the plumbing and/or water pressure
- Leaky roofs, previous flooding
- Cracked or shifting slab foundation
- Lead-based paint, mold or asbestos
- Defective air conditioner and/or heat furnace
If the seller does not know the answer to a question on the form, leaving the answer blank is not an option. The seller must state they do not know the answer.
Buying property is a complicated matter. Every day seller's, seller's agents and buyer's agents withhold information from buyers so they can close the deal. In many cases, the information is insignificant and will not make a difference for the buyer. But, in cases where the homeowner has to pay hundreds or thousands of dollars in repairs, failure to disclose can be devastating.
The rights of the buyer and the obligations of the owner are described in the law regarding a contract to sell a home or other property. And, although it seems only fair that the seller reimburse you for the damages, it doesn't always happen that way. You should hire an attorney with experience in Texas real estate law who will fight to protect your property interests.
To schedule a consultation, contact real estate lawyer Mr. Malley today.