A disclosure statement is a real estate buyer’s chance to learn as much about the property they are considering from the seller. Seller disclosures can include anything from drafty hallways, loud neighbors or high-traffic intersections nearby. Disclosure statements serve to major purposes—they inform potential buyers of any and all issues the property might have and they protect the seller from future legal actions.
As millions of real estate transactions occur each year, all parties hope and pray that disclosure statements are honest and bring to light any potential issues for both parties’ sake.
But what happens when there’s a dispute surrounding a real estate disclosure statement? There are a few steps you can take.
Review the disclosure statement
Go through the document with a fine-toothed comb and document any discrepancies as quickly as possible.
Make the seller aware
If the issue is serious and was not included on the disclosure statement, using your real estate agents for a communication channel, gives the buyer ample opportunity to respond to the issue. Alert the seller and make them aware that the issue was left out of the disclosure and that you’d like it rectified.
Document all communication
Keep communications civil and keep records of them, preferably via e-mail. While you might not get the answer you’re seeking at the outset of the issue, patience is key.
Find expert legal help
As soon as you realize you have a problem with the property you purchased on your hands, contact a Broadway real estate attorney. Disclosure disputes are among the most common reasons for real estate law suits—an experienced attorney will know the proper steps to take moving forward and will help guide you toward rectifying your problem with the property.