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
Purpose Driven General Counsel 