The purchasing of a home, be it your first, second, or tenth, is a significant financial transaction for anyone. Yet while it is often as exciting as it is significant, the situation can very quickly turn sour if, after buying a property, you suddenly uncover cracks in the foundation, faulty wiring, or any other potentially hazardous hidden damage.
If you’ve found problems in a property that were previously unknown and aren’t sure what the right course of action should be, real estate lawyers in Edmonton can give you the information and support you need. You can also refer to this short guide for a basic understanding of your rights according to real estate law in Alberta:
Patent and latent defects; what’s the difference?
Depending on the type of defect present, different legal principles may apply:
- Patent defects – these are described as being flaws that a reasonable inspection would uncover, like carpet stains or broken windows. Generally speaking, if you or whoever carried out a home inspection failed to identify such a defect during viewing, and the sale went ahead and was closed, the seller would not be held liable.
- Latent defects – these include such faults as mold growth behind a shower surround or cracks hidden behind drywall in the foundations that the seller may well know about but which would not be seen during an ordinary inspection. Latent defects that the seller knew about, and which could deem the property to be unsafe, should legally be disclosed to buyers before sale.
The advantages of seeking professional representation
When these defects are discovered after the keys have been handed over, many buyers mistakenly believe they have no recourse or try to negotiate with the listing agent themselves. However, there are significant perils associated with this:
- Conflict of interest
It’s important to remember that the listing agent’s role is to represent the interests of the seller. They do not have a legal obligation to prioritize your recovery costs. A real estate lawyer, however, works exclusively for you.
- Protective clauses and negotiations
When you work with property lawyers in Edmonton, they help you determine if a “latent defect” was known to the seller and deliberately withheld. If so, your lawyer can help you seek compensation for repairs. They review your purchase agreement for specific protective clauses and can initiate a formal legal claim or negotiation to ensure the financial burden doesn’t fall solely on you.
Finding hidden damages when you’ve purchased a property is most homeowners’ worst nightmare. But while working with real estate lawyers can help you understand real estate law and know where you stand in terms of liability, they can also help you navigate the path toward fixing the situation. By seeking guidance from local real estate lawyers, you can protect your investment and ensure that “hidden” doesn’t have to mean “helpless.”
