WebMay 6, 2024 · The most common disclosures you’ll find in a purchase agreement include lead-based paint hazard, asbestos, environmental hazards like high levels of radon, and natural hazards. Natural hazards (also known as material defects) include, but aren’t limited to: Roofing problems. Electrical and wiring issues. Water damage. WebFeb 21, 2024 · If the agreed repairs are not complete then the Seller should follow through with making the agreed repairs prior to closing. Your agent should have …
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WebMar 31, 2024 · Unknown Defects Couldn't Possibly Be Disclosed By Home Seller There could be situations where not even the seller knew about the defect. If, for example, an … WebNov 6, 2024 · A home seller might potentially do the following if the buyer decides not to go through with the purchase: retain the initial earnest money payment and terminate the … refrigeration electrician
How to Deal with Home Problems Found During the …
WebJun 22, 2024 · If the repairs are not mandatory, the seller can always walk away from your deal and accept one from another buyer. What you can do is assess the value of the … WebOct 30, 2024 · The short answer is yes, a buyer may have a cause of action for fraudulent concealment. But these cases can be difficult because of the proof required to win. the defect presents a danger to the property, health, or life of the buyer; the defect would not be disclosed by a careful, reasonable inspection by the buyer. WebNov 6, 2024 · Seller Keeps Earnest Money Payment. When the seller is ready, willing, and able to sell the property and the buyer refuses to close on the sale for a reason not excused by a contingency, the seller has the right to terminate the contract and keep the earnest money payment (called a downpayment in New York, but not to be confused with the … refrigeration employment