Search results
Results from the WOW.Com Content Network
According to the ACL, property sellers and agents must disclose any defects in a property, which a buyer is planning to buy. Lying by omission would lead to breach of contract . This law does not mean that the property dealer guarantees the good title of the property but that he/she has not done anything, or is not aware of anything, which ...
In construction contracting, a latent defect is defined as a defect which exists at the time of acceptance but cannot be discovered by a reasonable inspection. [2]In the 1864 US case of Dermott v Jones, the latent defect lay in the soil on which a property had been built, giving rise to problems which subsequently made the house "uninhabitable and dangerous".
The seller disclosure notice or statement is anecdotal and does not serve as a substitute for any inspections or warranties the purchaser may wish to obtain. It also does not serve as a warranty of any kind. [1] Deliberate misrepresentation in the statement can result in liability. [2] Seller disclosure statements are not compulsory in New ...
Finding out the buyer failed to secure funding: If the buyer can’t get a mortgage, the seller is typically not required to continue the sale. You have the right to be paid the agreed-upon price ...
If you're in the market for purchasing a home, you've likely done plenty of research on everything from mortgage options to negotiation tips on trying to close a property. There's plenty of time...
The modern trend in the U.S. is that the implied warranty of fitness for a particular purpose applies in the real-estate context to only the sale of new residential housing by a builder-seller and that the caveat emptor rule applies to all other real-estate sale situations (e.g. homeowner to buyer). [3]
Tip No. 1: We love "CSI" -- on TV.But we don't want to actually live at a crime scene. And if a crime did happen in your home, this is a really bad way to make light of it. The "Caution: Do Not ...
A warranty deed is a type of deed where the grantor (seller) guarantees that they hold clear title to a piece of real estate and has a right to sell it to the grantee (buyer), in contrast to a quitclaim deed, where the seller does not guarantee that they hold title to a piece of real estate.