How do I protect myself if I discover a defect in a home I am buying?

If you notice a defect in a home you are buying in New York, it is important to protect yourself. The first step is to determine if the defect is material or nonmaterial. A material defect is something that affects the value or habitability of the home and must be disclosed by the seller. A nonmaterial defect is one that does not significantly affect the value or habitability of the home; these do not need to be disclosed. If it is a material defect, it is important to understand your rights under the law. In New York, the seller is responsible for disclosing any material defects to the buyer. If the seller fails to do this, they may be liable for any damages that result from the defect. If it is a nonmaterial defect, you may be able to get the seller to agree to repair the defect or provide a price reduction in exchange for accepting the defect. Before you agree to this, it is important to research the cost of repairs, the expected market value of the home, and the amount of the price reduction being offered. In either case, you should consult an attorney specializing in residential real estate law to make sure your rights are protected. They can advise you on the best way to address the defect and ensure that you receive a fair resolution.

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How do I protect myself if I discover a defect in a home I am buying?

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