Memphis, Bartlett, Lakeland and Germantown real estate and homes for sale in Tennessee - Marc Scheinberg, REALTOR® REALTORŪ Logo


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Real Estate Tips

Disclosure Laws >Potential Problems

Every house has some "quirks", and some have material defects that may affect the sales agreement or the asking price. Placing a less-than-perfect house on the market is fine as long as you and your real estate agent give the buyers information on any "hidden defects".

Most litigation in real estate transactions involves the buyer suing the seller for failure to disclose a problem. Whether it is a leaky roof, dry rot, plumbing or heating problems, or a wet basement, most courts do not apply the "let the buyer beware" rule to real estate transactions. Even if the buyers had a structural inspection and you sold the property "as is," you may be held responsible for undisclosed defects.

Sellers have an obligation to disclose both obvious and hidden defects. Courts have not been sympathetic to sellers who have lived in a house and are in a position to know what works and what doesn't, but do not fully reveal the facts. This is one area where honesty is the only policy. Ask your agent for help if you are unclear about any aspects of the disclosure form.

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Real Estate Trivia

Q 
According to Feng Shui, the art of home placement, what five elements are needed in a harmonious environment?

A 
Wood, fire, earth, metal and water must be balanced to create a happy, prosperous home.
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Marc Scheinberg, REALTORŪ, real estate agent and broker for Memphis, Bartlett, Lakeland and Germantown, Tennessee home listings, property and land for sale

Marc Scheinberg
Keller Williams Realty

1255 Lynnfield Rd
Memphis, TN 38119
Cell: 901-355-9453
marcscheinberg@BestImageAgent.com

CRS ABR MLS REALTOR Equal Housing


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