Sale of Home? What do i need to Disclosed to the buyer ?

Asked over 1 year ago - Laguna Beach, CA

I received a letter from the city about a year ago asking about my loft that was not permitted. I bought the condominium with the loft and the person that sold to me also bought with the loft. I did a investigation but I could not found when the loft was built. I wrote a letter to the city and I found that they did not had the blue print from the condominium , I have not heard from them and its pass about 10 month. Now I'm think about to sale this condominium do I need to disclosed this to the new Buyer?

Attorney answers (3)

  1. Shaun K. Boss

    Pro

    Contributor Level 14

    2

    Lawyers agree

    Answered . You have an obligation to make a complete disclosure of what you know. This is clearly a material fact. If you fail to disclose it, you are likely to be sued by the Buyer when it is discovered and the damages and attorneys fee awards could be substantial.

    This answer does not constitue legal advice, nor does it creat an attorney/client relationship. If you are... more
  2. Devin Randall Lucas

    Contributor Level 6

    Answered . Yes.

  3. Michael T Millar

    Pro

    Contributor Level 19

    1

    Lawyer agrees

    Answered . As someone who has represented parties in over 150 cases involving non-disclosure of defects in residential properties, I would strongly recommend that you disclose any condition that you know that might affect someone's decision to buy the property.

    Fraud can be committed in one of two ways - by stating something that you know to be untrue and by failing to speak when you know a material fact.

    I am not a CA attorney, laws vary from state to state, therefore you should always consult a local attorney.

    If this answer was helpful, please mark it as helpful or as a best answer. This answer is for general education... more

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