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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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Q	What four states in the Southwest are noted for having boundaries that touch.
A	New Mexico, Arizona, Utah and Colorado, referred to as the "Four Corners", have adjoining boundaries.
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Russell Phillips, REALTOR®, real estate agent and broker for Round Rock, Austin and Georgetown Texas home listings, property and land for sale - NUMBER1EXPERT(tm)

Russell Phillips
Moreland Properties
823 S. Austin Avenue
Georgetown, TX. 78626
512-698-RUSS (7877)
512-868-1771 x182
Fax: 512-233-2250
Email: russ@moreland.com
In his first year as a residential real estate agent, he was awarded the prestigious title of “Rookie Realtor of the Year” from both Moreland Properties AND his Board of Realtors. The very next year, he came up just shy of being the Top-Producer in his office! His background also includes development, with a beautiful lakefront project. In addition, he currently serves as a Planning and Zoning Commissioner. Russell attributes his success to a solid work ethic, an understanding of the market, and the care and concern he holds for each client in a very personal transaction.

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