Real Estate Non Disclosure
Real estate sales is a highly regulated industry. The sellers, their agents, and their brokers all have disclosure duties to a buyer of real estate in California. One of the top disputes between real estate buyers and sellers is the seller’s failure to disclose defects or material information that may have affected the buyer’s decision to purchase the property or the price they would pay. The purpose of pre-sale disclosures is to allow the buyer to make informed decisions when purchasing the property. California law mandates that the seller formally disclose anything that adversely affects the value or desirability of the property.
Non-disclosure involves a situation where the seller of real estate doesn’t disclose the property's true condition. Seller could end up being liable for non-disclosure even if he or she didn’t intentionally conceal anything from the buyer. The mistake of not knowing the law is not a defense, especially when the seller is required to disclose a fact. Sellers, real estate agents, and brokers could end up being liable for actual fraud, constructive fraud, deceit, intentional misrepresentation, negligent misrepresentation, concealment, breach of contract and breach of fiduciary duty which could have serious consequences. However, the buyer will not be able to sue the seller if the buyer also had constructive knowledge of the defect in the property related to the seller’s non-disclosure.
Gomez Law, APC attorneys in Los Angeles successfully represented a real estate buyer and conducted mediation in Los Angeles County against the seller, seller’s broker, buyer’s broker and inspector. The seller didn’t disclose the death in the subject property although the seller was statutorily required to do so.
Hire us as your agent in buying or selling real property. We have licensed attorneys, licensed real estate agents, paralegals, on-site notaries to assist you as a one-stop shop. If you are buying or selling real estate, you should hire a real estate attorney to navigate you through the difficult process. Real estate agents and brokers are not allowed to provide you with any sort of legal advice. With that in mind, we work extra hard to provide insightful information to our clients. If you are in need of experienced and knowledgeable real estate attorneys, contact us today to schedule a free, 30-minute consultation. We are located in Los Angeles, California, but proudly serve clients throughout the surrounding areas of Culver City, Venice, Ontario, and Glendale, California.
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