Home Sale Nightmare! What You Need to Know about Lawsuits and Litigation

The Jones Zone

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:

1. Should sellers disclose potential issues or not? (The answer is always yes, disclose everything.)
2. How can sellers increase their chances of avoiding or winning litigation after a sale?
3. What are the essential disclosure forms and reports that sellers should be aware of?
4. How can sellers handle post-closing issues and requests for repairs or credits from buyers?
5. What additional protection can sellers consider, such as litigation insurance?

Guest Information:

Walt Tamulinas - Real Estate Broker

Email: [e-mail]

Website: https://eranoc.com/

Contact Darryl:

Darryl & JJ Jones Real Estate

Email: [e-mail]

Phone: [phone]