Howdy! I'm Dan Smith and I live with my wonderful family in Perth. This is my legal blog which aims to look at every part of the legal system. I should point out that i'm not a lawyer myself. However, my good friend Stan has been representing people in court for many years. I find Stan's work fascinating and I love asking him questions. I have even done a bit of my own research into the legal system. I decided to pull everything together here so I could organise my thoughts while also providing useful info for others. Thanks for checking out my blog!
You can avoid needing the services of solicitors down the road when you get sued for fraud for concealing critical information about the property you are selling. Solicitors strongly advise that you disclose to potential buyers any information that affects the value of your property.
Your real estate solicitors will advise you against willfully concealing, among other things, the following.
Deaths in the Property
Of particular interest to potential buyers would be any deaths related to violent acts in the property and those related to the condition of the property.
With violent activity, it comes down to superstition on the part of the buyer. Disclosing deaths related to the property condition will help the new owners make any necessary changes and repairs.
Hazards and Inherent Risks
Solicitors will advise that you disclose if there is asbestos on your property and any other hazardous or otherwise toxic material. You should also not conceal it if your property is, from historical records and authoritative studies, at risk of damage from, say natural disasters.
Buyers will want to know what repairs you have done in the property over the years and the reasons for these repairs. Think of any repairs that may impact the structural integrity of the property as well as plumbing and electrical repairs.
Your repair history will help the buyer to narrow down the areas to pay more attention during inspections. It is also beneficial in identifying areas that may be an issue in the future.
Nuisances In The Neighbourhood
Is there any sound or odour coming from the elsewhere in the neighbourhood outside your property that would affect the new buyers once they occupy the property? Solicitors advise that you do not neglect to disclose the same.
Be it noise from nearby commercial and industrial activity, noise from a nearby airport or odour from a nearby landfill; buyers need to know what may be in store for them.
Pest Infestation History
Have wood-destroying pests such as termites ever infested your property? Buyers will want to know of any previous termite treatments.
You should also be candid about any wood damage suffered during this infestation, the repairs done and any such repairs that may still be pending.
Depending on the laws in your area, you may not be under any legal obligation to make some of these disclosures. To avoid legal problems when there is such an obligation and as a show of good faith, solicitors advise full disclosure.Share
24 March 2020