Equity Agreement Statement With Text In Sacramento
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Yes it is very common for a buyer to sue a seller for non-disclosure. For a non-disclosure case you have to show that the seller failed to disclose a something that was material to the value or desirability of the property. Its seems that the facts you describe were definitely material to you.
Vacant land is exempt from the transfer disclosure statement (TDS) that the California Civil Code requires for sales of residential property. However, the seller is still required to disclose any and all known facts that materially affect the value or desirability of the property.
The goals of the Act are to provide homeowners with the information they need to make an informed decision regarding the sale of their home to an equity purchaser, to require that sales agreements be in writing, to protect the public against deceit and financial hardship, to encourage fair dealing in the sale and ...
Examples of material facts that must be disclosed include structural problems with the house, soil problems, a leaking roof, unpermitted construction, neighborhood noise problems, and anything else that a buyer would deem to be important.
In California, sellers are required to disclose material facts that could affect the value or desirability of a property. This obligation is primarily governed by the state's real estate disclosure laws, most notably the California Civil Code §§ 1102-1102.17.
Seller Disclosure Requirements & Transfer Statements In California, sellers are required to disclose any known issues that happened on the property. That is not limited to building issues; it also includes catastrophic events on the property like a natural death or murder.
Examples of material facts that must be disclosed include structural problems with the house, soil problems, a leaking roof, unpermitted construction, neighborhood noise problems, and anything else that a buyer would deem to be important.
Most seller property disclosures are required for residential properties and vacant land. This means that when selling a residential property, the seller is legally obligated to disclose any known defects or issues with the property to potential buyers.
