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Ask Anything: Westland and Livonia Michigan home buying, real estate listings, and homes for sale in Wayne County, MI

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Disclosure Laws >Potential Problems

Every house has some "quirks", and some have material defects that may affect the sales agreement or the asking price. Placing a less-than-perfect house on the market is fine as long as you and your real estate agent give the buyers information on any "hidden defects".

Most litigation in real estate transactions involves the buyer suing the seller for failure to disclose a problem. Whether it is a leaky roof, dry rot, plumbing or heating problems, or a wet basement, most courts do not apply the "let the buyer beware" rule to real estate transactions. Even if the buyers had a structural inspection and you sold the property "as is," you may be held responsible for undisclosed defects.

Sellers have an obligation to disclose both obvious and hidden defects. Courts have not been sympathetic to sellers who have lived in a house and are in a position to know what works and what doesn't, but do not fully reveal the facts. This is one area where honesty is the only policy. Ask your agent for help if you are unclear about any aspects of the disclosure form.

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Q	What is a "jumbo mortgage"?
A	The term "jumbo mortgage" currently refers to a mortgage loan in excess of $359,650, although the threshold amount may change as the market fluctuates.
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Jody White, REALTOR®, real estate agent and broker for Westland and Livonia Michigan home listings, property and land for sale - NUMBER1EXPERT(tm)

Jody White
Rice Realty
8401 Narise St., Westland, MI 48185
10667 Belleville Rd, Belleville, MI 48111
Westland Office: 734-421-7423 (RICE)
Belleville Office: 734-421-3515
Cell: 734-564-8401
Fax: 734-421-3516
Email: jody@ricerealty.com
Jody White is the owner of Rice Realty. Rice Realty is a full service residential real estate company servicing client’s real estate needs throughout Wayne and Oakland Counties. The company provides real estate services to current property owners as well as buyers who require representation, which ensures their interest is served in an appropriate manner with maximum results. Mrs. White has over 23 years of real estate experience as a consultant, investor, appraiser, landlord and broker/owner which has earned her an exceptional reputation in the industry, as evident in that over 80% of the company revenue is generated through referrals. Jody resides in Westland with her husband of over 9 years and their two children. She is active at church and her children’s school and takes great pleasure scrapbooking, weight training and having fun with friends and family. Jody White is the best choice for your next real estate purchase or sale.

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NUMBER1EXPERT™ in real estate for Westland and Livonia, Michigan

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