What happens if the seller fails to disclose a problem to the buyer in San Diego real estate transactions? In California, and here in San Diego Sellers and their agents are under substantial legal obligation to fully disclose all known issues, defects, problems, neighborhood issues, mold, noises, or other factors that would reduce your enjoyment of or the perceived value of the property being offered. The California “Transfer Disclosure Statement” or TDS as well as the “Seller Property Questionnaire” are intended to provide all known defects or issues with a property that is offered for sale.
These must be provided to the buyer in a timely manner immediately following the execution of a contract on the property. If the seller fails to disclose a problem to the buyer in San Diego associated with known defects or issues that affect the use or value of the property you can hold them financially accountable, or force them to take the property back and return you to the legal and financial position you enjoyed prior to entering into the transaction.
The experienced commercial and residential real estate attorneys at the Watkins Firm can assist at many points during a real estate transaction. We can help to negotiate the terms of your agreement, arrange closing dates and other critical terms to reduce your tax obligations and create the best terms for your interest, and protect you from potential risks down the road. If you have purchased a property in or around San Diego or Southern California and are concerned about a defect or a seller’s failure to disclose, we will help you to asses the relevant damages and pursue the most timely and cost-effective route to resolve the issue or return the property to the seller and ensure that you are made whole.
If you are in the midst of purchasing a property in San Diego or if the seller fails to disclose a problem to the buyer 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.
