Even newly constructed homes can have
hidden defects which will cost you money in the long run - hiring a trained professional to inspect your home before purchase can save you money and headaches down the road.
Not exact matches
A certificate of title — issued by a title company that did the title search — offers no protection against any
hidden defects in the title
which an examination of the records could not reveal.
Agents need to be mindful that if they have knowledge of a
defect, patent (obvious) or latent (
hidden), this information needs to be «disclosed» in the actual listing; the listing agent needs to draw to the attention of his seller, making the seller aware that his agent «knows,» whatever he knows, or surmises, has seen with his own eyes, or has been made aware by his seller — sometimes surreptitiously, (by agent's putting the information confirmation in writing and has advised the seller the need for disclosing), directing his seller to get «fix - it» quotes, repair before going to market, or offer a rebate to his buyer for the dollar amount involved, and advise the seller that this information if known by his agent, or by the seller, «must» be disclosed in some manner, in writing, so as to prevent the seller and all the agents involved (including «team members), both buying and selling sides, from lawsuits, or possible resultant non-closing of transactions, not just even non-removal of conditions, (failing
which clauses, conditional clauses — condition precedent, not condition subsequent — self destruct) during
which lag time the subject property is theoretically off the market wasting valuable market time,
which could prove especially financially disastrous in any sort of turbulent down - turning market.
Inherent Vice:
Hidden defect (or the very nature) of a good or property
which of itself is the cause of (or contributes to) its deterioration, damage, or wastage.
(2) Goods are of acceptable quality if they are as: (a) fit for all the purposes for
which goods of that kind are commonly supplied; and (b) acceptable in appearance and finish; and (c) free from
defects; and (d) safe; and (e) durable; as a reasonable consumer fully acquainted with the state and condition of the goods (including any
hidden defects of the goods), would regard as acceptable having regard to the matters in subsection (3).
Agents need to be mindful that if they have knowledge of a
defect, patent (obvious) or latent (
hidden), this information needs to be «disclosed» in the actual listing; the listing agent needs to draw to the attention of his seller, making the seller aware that his agent «knows,» whatever he knows, or surmises, has seen with his own eyes, or has been made aware by his seller — sometimes surreptitiously, (by agent's putting the information confirmation in writing and has advised the seller the need for disclosing), directing his seller to get «fix - it» quotes, repair before going to market, or offer a rebate to his buyer for the dollar amount involved, and advise the seller that this information if known by his agent, or by the seller, «must» be disclosed in some manner, in writing, so as to prevent the seller and all the agents involved (including «team members), both buying and selling sides, from lawsuits, or possible resultant non-closing of transactions, not just even non-removal of conditions, (failing
which clauses, conditional clauses — condition precedent, not condition subsequent — self destruct) during
which lag time the subject property is theoretically off the market wasting valuable market time,
which could prove especially financially disastrous in any sort of turbulent down - turning market.