FSBO

Q. I have been looking at a For Sale by Owner that is selling their home “as is” and I asked the seller to disclose any latent defects concerning the property, and they said he did not have to because the home was being sold “as is”. Do the sellers have an obligation to disclose known latent defects even if they are selling the home “as is”? Jeff

A. Jeff, yes if the seller of a home knows of facts materially affecting the value of the property that are not readily observable and are not known to the buyer, the seller is under a duty to disclose them to the buyer. There has been several court cases that have upheld this position and if you ask for a property disclosure before entering into a contract that would help you in the decision whether to go forward or pass on the property.

Posted by Donald Urschalitz P.A. at September 20, 2004 06:43 PM