Buying a house is a major investment, which is why you should know about any defects before completing the transaction. To prevent legal disputes later, sellers are required to disclose certain issues that could influence a person’s decision to buy. The information is included in a written statement, which you should go over carefully with a lawyer. Disclosure requirements vary by state, so here’s what you should know about the process when buying a house in Missouri.

The Types of Information Included in the Report

Before buying a house, you should be aware of any repairs you might need to make down the line. Problems that impact home safety, comfort, and efficiency should be disclosed in the report. This includes roof and structural damage, pest infestations, window leaks, plumbing issues, and electrical malfunctions.

If renovations and repairs were performed, the document should include whether the work was done with a permit or not. As the surroundings can influence your comfort in the home, the report should also include whether a major construction project is happening nearby, disputes with other residents, and any other general information about the neighborhood. Bank liens and other financial concerns should be disclosed, too.

Understanding Missouri Requirements & Penalties

Although it’s in a buyer’s best interest to find out everything they can about the property to make informed decisions, Missouri law limits how much information a seller is legally required to disclose. As a caveat emptor state, home buyers in Missouri won’t be compensated for damages found after purchase. Sellers can only be found liable if they actively prohibited a potential buyer from conducting a home inspection or taking other steps to unearth any issues with the property.

Sellers do, however, have to disclose whether the house was the site of methamphetamine production or where the welfare of a child was endangered. If a seller works with a real estate agent, they will not intentionally lie about any property concerns for fear of losing their license. 

If a Missouri home seller or licensed real estate agent does not fulfill the requirements, you could still take legal action. Even if there was a caveat emptor clause, you could still file a civil lawsuit for breach of contract. Because of Missouri statutes, you run the risk of the case being thrown out. To prevent a legal battle, ask the seller to fill out The Missouri Association of Realtors’ disclosure forms. You can go over the completed documents with a lawyer, as they will help you cross-check the information with city records. 

If you plan to complete a real estate transaction in Saint Charles County, contact O’Fallon-based lawyer David Schmidt at Woodlawn Law Offices. For over two decades, home buyers and sellers have relied on him to protect their best interests. The skilled lawyer can also assist with estate planning and disability cases. To schedule a consultation, call (636) 240-6667. Visit the practice online to learn more about the attorney’s qualifications.