Real Estate Failure to Disclose
Our law firm routinely pursues sellers of real property and their real estate agents and brokers who fail to disclose known dangerous or defective conditions in the properties they sell to innocent buyers. These actions seek recovery of repair costs, diminshed value of the home, and statutory penalties from:
- Sellers of Real Property
- House Flippers
- Sellers' Realtors
- Buyers' Realtors
- Real Estate Brokers
- Home Inspection Companies
- Title Companies
A seller's failure to disclose known defects in a home can be as varied as the nature of defects that may exist in a home. Oftentimes, a seller knowingly withholds information about the home's current or historical water damage and mold, or other defects, all in an attempt to capture from you, the buyer, more money than you would otherwise pay for the home. In some circumstances, had the seller made proper and truthful disclosures of known defects in the home, the buyer would never have bought the home in the first place.
Under Nevada law, your right to have a home inspection prior to purchase does not replace the seller's duty to disclose known defects in the home. In Nevada, even banks selling foreclosed homes must disclose to buyers defects in the property of which the bank is aware. A seller's willingness to "fudge" for his own benefit on the Seller's Real Property Disclosure Form may end up costing you, the buyer, tens of thousands and may even threaten your health.
Review an exemplar of Nevada's Real Property Disclosure Form below and consider how a seller's unwillingness to disclose known defects and conditions in the property has affected you. Is it fair that you got stuck with the bill? Of course not.
Also, watch out for self-dealing real estate agents and brokers out for a commission at your expense. Realtors have a duty to disclose to all parties in the transaction, including you, any material and relevant facts, data or information which the realtor knows, or in the exercise of resonable care and diligence should have known, relating to the property you bought. This duty is especially important where the realtor previously served as the property manager for the home if it was a rental before you bought it. Under Nevada law, brokers are responsible for the acts of their real estate agents.
We hold sellers accountable to the full extent of the law for their untruthfulness to you, the buyer. Click HERE now for help. You want us on YOUR side.
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