In real estate, sellers and buyers have rights but also homework. For example, the seller has the duty to provide the buyer with all information regarding the property subject of the sale.
The obligation to provide information to the buyer by the seller is to provide as much information as possible about the property offered for sale. This information includes any defects and repairs existing in the house or apartment. In particular, it is imperative that the seller reports details that are not easily detected by the buyer. It is often forgotten that environmental problems around the property must also be reported. But there is also possible noise pollution, air pollution or any other natural fact that may be a nuisance for future occupants of housing.
If you hire a professional real estate agent as a buyer, it is up to the professional to ask for any kind of information about the property. The real estate agent is able to inspect the premises and seek further clarification on certain details from the seller. Even some documents like title deeds and some diagnoses will have to be shown to the future buyer.
The buyer, in turn, is subject to an inspection obligation: the goods are subject to prior checking and any defects are taken into account in advance. Thus, clearly visible defects cannot be claimed later. On the other hand, the buyer is not obliged to move some furniture or remove carpets to identify any hidden defects. For example, if the floor under a sofa is degraded, the seller is required to inform the buyer in advance.
In the case of housing stock and real estate, there are differences in the responsibilities of the seller: the shareholder is solely responsible for the condition of the surface materials. The seller of the property, in turn, is responsible for the property in its entirety.
When will the seller be released from any liability?
In the case of housing actions, the seller’s liability in case of default is valid for two years from the date of transfer of control; the liability for the property is valid for five years. If the seller has neglected or even deliberately ignored certain details to provide, the limitation period will not be limited to predetermine times, it may even be unlimited. These cases include, for example, moisture damage in the dwelling of which the seller has knowledge but has not reported such a problem to the buyer.
Sometimes the seller does not know what item he sells. However, ignorance does not remove the responsibility of the seller. If you sell a building or even a property inherited and you do not know the condition of the property sold, it is advisable to visit the housing, to review all related documents. Have the reflex to call a professional to examine the good before putting it on sale.
It is also important to remember that the use of a real estate agent does not release the responsibility of the seller. On the other hand recourse to a professional is generally in the interest of both the buyer and the seller. An experienced real estate agent can ask the right questions that can provide useful information to the buyer.
Does a hidden defect lead to a reduction in the price of the good?
What happens if, after the transaction, any defects are noticed by the buyer? In this case, he must immediately report them to the seller. The latter is obliged to compensate the buyer if it turns out that he is aware of these defects. If no amicable settlement is possible between the two parties, this dispute may be the subject of a lawsuit by the buyer to assert his rights.
Post-transaction claims are mainly due to non-detectable defects in advance. Barely insignificant defects, such as a tear in wallpaper, do not usually give rise to compensation and a reduction in the selling price cannot be demanded. In case of more serious hidden defects, a compromise must be found between buyer and seller to resolve their dispute. For example, the seller is not obliged to change all the parquet if deterioration is noted on a part. The trade-off usually revolves around repair costs depending on the nature of the hidden defect discovered in the real estate.
As a buyer, you must inform your real estate agent about a vice-hidden discovered in the housing so he advises you on how to proceed and find a compromise with the seller.