Home Sale Nightmare! What You Need to Know about Lawsuits and Litigation
In this episode of The Jones Zone, host Darryl Jones sits down with Walt Tamulinas, a Real Estate Broker with years of experience, to discuss the topic of avoiding litigation after a sale. Walt provides valuable insights and recommendations for sellers to minimize the risk of legal disputes after closing a real estate transaction. This episode is a must-watch for anyone selling or thinking about selling their home!
Episode Highlights:
- Importance of full disclosure by sellers to avoid litigation
- Explanation of key terms like "caveat emptor" and "ex post facto"
- Discussion of essential disclosure forms: Transfer Disclosure Statement (TDS) and Seller Property Questionnaire (SPQ)
- Recommendations for handling inspections and encouraging buyers to choose their own inspectors
- Disclosure of neighborhood nuisances (e.g., barking dogs, neighbor disputes)
- Addressing post-closing issues like water heater problems and providing credits to buyers
- Use of releases with a 1542 clause to prevent future litigation
- Overview of additional disclosures: Agent Visual Inspection Disclosure (AVID) and Natural Hazard Report
Key Questions Asked:
- Should sellers disclose potential issues or not? (The answer is always yes, disclose everything.)
- How can sellers increase their chances of avoiding or winning litigation after a sale?
- What are the essential disclosure forms and reports that sellers should be aware of?
- How can sellers handle post-closing issues and requests for repairs or credits from buyers?
- What additional protection can sellers consider, such as litigation insurance?
Guest Information:
Walt Tamulinas - Real Estate Broker
Email: walt@erarealestate.net
Website: https://eranoc.com/
Contact Darryl:
Darryl & JJ Jones Real Estate
Email: darrylandjj@gmail.com
Phone: (714) 713-4663
