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Required disclosures and defects in a newly purchased home

On Behalf of | Aug 13, 2021 | Real estate transactions |

Buying a home is one of the most important legal and financial decisions a Tennessee adult will make in his or her life. These are significant transactions that can have a major impact if something goes wrong, which is why sellers are required to disclose information they have regarding known defects in the home. Defects discovered after purchase or later in the purchase process can lead to complex, expensive disputes.

What does a seller have to tell a buyer?

A seller is required to inform a potential buyer of known defects in the home. There is also usually an inspection that will reveal problems in the home of which the buyer should be aware. There are times when buyers don’t disclose everything they should, and the new owners may discover issues they will have to address after they are already living in the home.

It can be hard to know if the inspector missed something or if the previous owner intentionally hid important information. This is one reason why it is beneficial to negotiate the inclusion of a home warranty with a home purchase. Discovering problems after purchase is especially common for those who bought an older home.

Protecting the interests of buyers

When buying a home in Tennessee, it is helpful to work an experienced real estate attorney. This support and guidance can help one avoid expensive and potentially complex issues during the process after the purchase is final. A buyer does not have to navigate matters related to defects and required disclosures alone.