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Legal Claims Against Sellers for Improper Disclosures If the seller has provided you with a Disclosure Report that is inaccurate or incomplete, you may be able to file a lawsuit for bdocHub of contract or even fraud.
You are required to disclose any known defects on the house to the buyer during the sale process. Knowingly make false claims or omitting material facts about possible defects can result in liability for damages if such omission or misinformation influences the buyers purchase decision.
Important and relevant issues which need disclosing are: Flooding issues, whether current or historic. Any known structural issues concerning the property. Proposals for nearby development and construction (if applicable)
You are also required to tell the buyers about any material defect that could harm the value of the property that is not readily apparent to the buyer. That means if you know about a harmful substance in your house such as lead paint or asbestos you have to disclose it.
There is no statutory requirement to provide a mold disclosure form. For Radon and lead, there are statutory requirements that sellers provide disclosure forms. But there are no state or federal statutory requirements that sellers provide mold disclosure forms. 2.
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Ohio disclosure law requires sellers to disclose only those items they actually know about. This means that you arent required to get an independent inspection to complete the form, only to list what you actually have learned and observed about the house through having lived there and taken care of it.
However, the statute of limitation in Illinois for an action of failure to disclose is one year from the purchase of the property. Bottom line, if youre a seller, dont try to hide anything that should be listed on the disclosure statement.
The good news is that under Ohio law, sellers are expected to disclose any material defect about which they are aware before the sale is complete; and they face possible legal liability if they dont.
If during your work you discover materials which you believe to be asbestos stop work immediately. Put up a warning sign and ensure nobody enters the area. Report the problem to whoever is in charge and arrange to have a sample of the material analysed.
Sellers are required to disclose whether there is asbestos, lead paint, or other known environmental hazard present on the property. However, this does not apply to all hazards. For example, Illinois does not require sellers to test for radon.

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