California law is well developed surrounding issues of failure to disclose and hidden defects in San Diego real estate transactions. The seller is required by law to make full disclosure of all issues they are aware of, as well as those that are necessary to avoid “fraud, misconception or deceit.” These issues are noted on the Real Estate “Transfer Disclosure Statement” or TDS, and this document must be provided to the “buyer(s)” as soon as possible before the closing of the transaction.
The over-riding purpose of the law is for the seller of real estate in San Diego and across the State of California to provide “meaningful disclosures” about the condition of the property that is being sold. The problems with failure to disclose and hidden defects don’t have to relate simply to the structure itself, or to the physical land where it is located. The seller must disclose anything that would affect the “value or desirability” of the property as well.
Things such as odors in the air, loud noises from a neighbor’s workshop, and even the constant barking from a neighborhood dog are prudent to disclose. Some sellers attempt to provide minimal disclosures or consider these matters as a gray area in the law to help the property to sell and maximize profit. However, listing a property “as-is”, hiring a home inspector or providing a seller’s warranty does not fully protect the seller from all liability under the law, and it is important to discuss any concerns or questions you might have as a seller regarding failure to disclose and hidden defects prior to providing the TDS.
If you have purchased commercial or residential real estate in San Diego and believe there was a failure to disclose and hidden defects on the part of the seller we invite you to review the strong recommendations of our clients and contact the Watkins Firm or call 858-535-1511 for a complimentary consultation today. We will review all that has happened, and help to protect your interests and hold the seller(s) accountable.