From a fresh coat of paint to furniture staging, home sellers will do everything they can to present their home in its best condition. However, once you’ve made an offer, they’re legally obligated to reveal any issues with the property. As a buyer, you might not know about mold growth and structural problems until you see the real estate disclosure report. If you’re wondering how this document works and when you should find an attorney, take a look at the guide below.

What Does the Report Include?

A real estate disclosure report will spell out any issues with the property you’re about to purchase. This document ensures that it’s not a surprise when the ceiling starts to leak a month after the sale, and the seller is safe from liability.

The report may mention regular loud noises in the neighborhood, termite infestations, plumbing or gas issues, and if the previous owner had pets. It may also touch on past remodeling efforts that may have altered the original blueprints.

In Georgia, buyers are still responsible for judging a property’s condition, and sellers are only required to disclose “latent defects.” This term refers to undesirable traits that a standard home inspection wouldn’t uncover and that a reasonable buyer would have to consider before moving forward.

However, if the seller is unaware of the issue, they aren’t required to disclose it. As a buyer, it’s essential to schedule a comprehensive home inspection of your own.

What Happens If They Fail to Disclose an Issue

If a seller fails to disclose any latent defects, they may be accused of attempting to trick the buyer. If you bought the property and found a defect after, you would have cause to find an attorney and bring a lawsuit against the seller. You could sue them for fraud or for breaching their contract.

In some cases, you may be able to annul or rescind the contract and receive your money back. If you’d like to keep the property, you could have the seller cover the cost of repairs and the depreciation of the property. 

Before you close on a home, it’s crucial to find an attorney. Prospective homeowners in Hinesville, GA, turn to Arnold & Stafford when they need a professional to look out for their best interests. With over 60 years of combined experience, they have a wide range of knowledge in real estate law. Learn more about their practice areas online, or call (912) 369-4529 to find an attorney.