Insights to Real Estate Agent’s Right: What Should They Be Told

Purchasing a house is an important decision a person has to make. Many factors are to be assessed while buying a house. People tend to look for a house that has zero criminal histories attached to it. Multiple things should be disclosed from the sellers as well as the buyers' side.

Most of the people that are looking to sell their properties hire a professional real estate agent. The real estate agent acts as a moderator trying to create a common price ground among the buyer and the seller. He has some responsibilities. Like if a murder has happened in the house, the buyer has the right to now. And if the house is associated with some paranormal activity, the seller must aware of the person who is looking to buy this house.

Common facts and realities

People believe that some vendors do not disclose such incidents that affect the value of the property in question. And they do such things if they realize that the buyer has no means through which he can access the complete history of the house.

The person acting as a conveyancer from the buyer's side should remind the buyers of their rights. This conveyancer acts as a ship with a strong anchor and bridges the buyer to the seller.

It is up to the buyers’ satisfaction to check for the defects in the property. However, if the vendor is disguising a known defect, he is cheating and can be called to court for fraud. Like if he is providing false answers to satisfy all the questions asked by the buyer just to sell the property.

Learning the limits of disclosure.

Is it an obligation of a vendor that he must reveal all the matters that might affect the purchase decision of the buyer? Therefore, what is the limit of a disclosure? Like in the case of a murder, should a vendor disclose such information to the buyer? It is for the courts to decide. It varies from country to country and even state to state.

In some states of America, the courts have made a clear statement about this situation. They have held their decision in favor of the buyer that he must know. However, the buyers may be burdened to know such drastic incidents.  These horrible events happen rarely. And if they occur, they make that specific piece of property very hard to sell.

It varies from buyer to buyer. Some buyers are much more sensitive and want to know the whole story. So should the case be disclosed even the person to die was very old and died a natural death?

The bottom line

The vendors do not know everything and sometimes are tricked by the seller. They do not know the structural defects in a property. Sometimes, they are unaware of the detailed history of the house. They only have to market the property and earn a profit. It is not just about that you have got the security covered with some of the latest keyless door locks like reviewed at Property guard master, you also need to keep a stringent check on legal history.