Tag: environmental law impact on real estate

Understanding the New Disclosure Requirements

Recent changes to real estate law have significantly impacted disclosure requirements for sellers. Previously, sellers might have only been required to disclose known material defects. Now, the definition of “material defect” has broadened, and the onus is on sellers to conduct a more thorough inspection of their property and disclose a wider range of potential issues. This includes things like past environmental concerns, even if remediated, and any significant repairs carried out in the past few years. It’s crucial for sellers to consult with their real estate agents and legal counsel to understand their obligations