Who has to tell?
If a Seller did not disclose that a forested area behind their house was being turned into a subdivision will this count as not disclosing a material fact? They would have received multiple notices in the mail over months and months. They hired an out of town agent to list their house. The Buyers were also from out of town, as was their agent.
The Seller has no obligation to disclose material facts. They can have this knowledge and keep it to themselves, caveat emptor. They have the right to remain silent.
It was a smart move, they got a Listing agent from out of town, as well as Buyers and the Buyers’ agent, all from out of town. No one inquired, so they sold their property without any liability.
The Buyer might be able to sue their own agent, and possibly (but less likely) the Listing agent. But, the Seller is “off the hook”.
Brian Madigan LL.B., Broker