Basics of Property Management: Screening Potential Tenants
Resolving Residential Real Estate Non-Disclosure Problems
Jesse Obrien
If you recently purchased a home that has a major defect that was not disclosed to you by the home's sellers, then it is vital that you understand your legal rights and how to resolve the issue to your satisfaction.
Residential Real Estate Mandatory Disclosures
All sellers of residential real estate in the United States are required by law to disclose any known major defects of the property. Commonly disclosed issues include
- failed septic systems
- dry or contaminated water wells
- leaking roofs
In essence, any major problem is required to be disclosed. Simple issues like a leaking faucet or broken toilet are not necessary to disclose, but major issues like foundation cracks are required to be disclosed.
Undisclosed Residental Real Estate Defects
Since the seller of your new home did not disclose a defect to you, you have the right to
- ask the seller to pay to fix the home's defect
- hire a residential real estate attorney to contact the sellers on your behalf
- retain an attorney to file a civil lawsuit to recover your damages
It is always a smart move to pick up the phone and call the sellers to talk about the issue. Some sellers will be willing to work with you to resolve the problem.
If your seller will not respond to your request for a fix, then it is time for your real estate lawyer to step in and send a demand letter on your behalf. Sometimes this simple action will compel the sellers to remedy the problem.
If the seller still does not agree to fix the property's defect, then it is time for your attorney to file a lawsuit in your local civil court. This process can be lengthy and a bit expensive, so it is always best to see if you and the seller can work out your issue without involving the court system.
Recouping Your Legal Fees for Non-Disclosure
In a real estate non-disclosure lawsuit, you can appeal to the court to recover all of your legal costs from the property's seller as well. After all, you would not have any legal costs if the seller had just disclosed the defect with your property like they were legally required to do so.
Conclusion
Residential real estate problems are never fun to deal with. The good news is that you can easily retain a local residential real estate attorney like to fight to recover your damages. For more information, talk to a real state professional like Chris Calhoon Real Estate.
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For the last several years, I've used a property management firm to help with my rental properties. One of the tasks that they handle for me is screening applicants who would like to move into one of my vacant units. Their expertise has helped me lower my tenant turnover and find people who want to stay with me for years. Part of the process is a tenant screening credit check. Before any further contact takes place, my manager orders credit reports from at least two agencies. That is enough to tell us if an applicant is a good financial risk. Assuming the references work out, I meet the candidate and make the final decision. If you own rental properties, let me tell you more about the benefits of having a property manager. I'm betting you'll find this type of arrangement will work for you too.