Failure to Disclose Issues
Hard work and due diligence on both sides of a real estate transaction go into a successful purchase and sale. An office building, apartment or land for real estate development purposes represents a significant investment. With the bond of trust that exists between buyers and sellers, both sides must be forthcoming on any present or future issues.
For more than 20 years, the lawyers at Bennett, Weston, LaJone & Turner, P.C., in Dallas, Texas, have resolved complex and contentious disclosure cases through negotiation or litigation.
Resolving Real Estate Disputes With Efficiency And Care
Finding defects on commercial property after the transaction is completed goes beyond breaking a bond of trust. Allegations of misconduct or fraud arise when a seller or broker fails to disclose vital information that may include:
- Structural damage
- Infestation of termites and other insects
- Lead-based paint
- Roof damage
- Electrical issues that include faulty wiring
- Malfunctioning water heaters, septic tanks and other appliances
Sellers of real estate in Texas must thoroughly inspect their property to find and document defects or damages that affect the property’s value or could cause harm to an occupant. From there, they provide the buyer with a Seller’s Disclosure of Property Condition form listing any problems. Failure to disclose issues can not only void the transaction and require expensive property repairs, but also result in lawsuits.