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Legal battles in US over property transactions increase

The number of legal battles over property transactions is increasing in the US with unhappy buyers and sellers more willing to take brokers to court, according to a new survey, Legal Scan, by the National Association of Realtors.

The report showed that disputes over disclosure of a property’s condition are the most common cause of lawsuits. According to the report, cases that are adjudicated tend to come down in favour of the defendant and a handful of agents and brokers either don’t know the law or don’t care to follow it.

Overall, the number of disputes has grown since the last report in 2007 and a significant number of survey respondents, some 45%, think this trend is likely to continue. Water intrusion and the mould problems that often follow are a major issue and disputes concerning structural defects are also extremely common. Septic and sewer systems and square footage measurements and descriptions also generate more than their fair share of legal problems.

More disputes are appearing when the seller is a bank and their numbers have increased in line with the growth in foreclosures.

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