Home > Uncategorized > Lesson From Real Estate Litigation: Disclose, Disclose, Disclose!

Lesson From Real Estate Litigation: Disclose, Disclose, Disclose!

Currently I have a handful of real estate disputes that involve these common facts:

1. parties enter into a real estate transaction;

2. After the contract is executed;

3. the Buyer finds some condition in the Property that:

a. was not, in buyer’s opinion, properly made known to them, and

                    b. if it would have been disclosed they would not have purchased the property.

 

I think the important take away from these basic facts are this:

any party to a real estate transaction, whether its a developer, private investor, prospective homeowner, real estate broker, sales agent, etc… could find themselves on one side or the other of a dispute!

Here are a few quick take-away points:

 Buyers:

Do your due diligence! don’t simply rely on the representation of the seller or agent. Get a professional opinion in the form of inspections, surveys, environmental assessments, title searches, whatever is appropriate for the specific transaction.

Sellers (and Agents):

Disclose, Disclose, Disclose!  Even if you think an issue can be “glossed over” or isn’t that material to your transaction, you may have a buyer who feels quite the contrary after the fact. The benefit of avoiding the possibility of a lawsuit certainly outweighs the possibility of losing a prospective buyer.

I can tell you for certain that my current clients embroiled in litigation over these scenarios would certainly agree .

Questions? Comments?

Contact me! Email: Jeshua@dwlawpc.com  Ph: (616) 454-3883

 

Advertisements
Categories: Uncategorized
  1. No comments yet.
  1. No trackbacks yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: