There is a famous real estate doctrine in the USA called “caveat emptor”. It means “let the buyer beware”. Courts in Missouri use this doctrine. It is, therefore, imperative for a buyer to be alert and aware before buying any home or property. Under Missouri real estate laws, the buyer may perform an inspection of the home or property. He can do this himself or by appointing an inspector.
Missouri real estate laws are different from those in other states.For example, in Missouri, whether a seller must disclose the defects of the property or home to the potential buyer depends on each law. For clarification, we have to look at the Missouri real estate laws in more detail.
Missouri real estate laws and what a seller must disclose
Missouri has a few statutes that require disclosure from a home or property seller to a potential buyer. One of the most explicit is Section 442.606 of the Missouri Revised Statutes. According to this Statute, the seller should give written disclosure to the buyer if anybody is using or ever used the property as a site for methamphetamine production.
Methamphetamine – or crystal or ice and meth – is a dangerous and illegal stimulant drug often manufactured in homes. The seller should disclose this criminal work or history only if the seller knows about this work.
There is one part of the Missouri real estate laws that are unique. According to Section 442.606 of the Missouri Revised Statutes, the home or the property seller has to disclose in writing if there was an instance of endangering the welfare of the child through “physical injury.” If the seller is aware of that issue, they must disclose.
According to Section 442.600 of the Missouri Revised Statues this state allows the home or property seller to remain silent on matters regarding “psychological impacts” of the property or home. If the home or property was the site of a murder, then the seller must disclose this.
Appointing a real estate agent
The seller can appoint a licensed real estate agent to sell his home or the property. In this case, then disclosure liabilities fall upon the real estate agent. According to Section 339.730.1 of the Missouri Revised Statutes, the seller must disclose himself or via the agent any known adverse material facts to the potential buyer. The agent may conduct an inspection of the home or property before he submits the disclosure to the potential buyer.
If the seller fails to disclose the defects, then the buyer may file a lawsuit against the seller. This is a lengthy and tough process. So, in that case, we recommend you contact our lawyer for the best service.
If you have any further queries about Missouri real estate laws, then please contact our learned real estate lawyer.