What Are The Common Causes of Real Estate Disputes?

What Are The Common Causes of Real Estate Disputes?

Sep 25

Disputes involving real estate properties can be complicated and time consuming in nature. For this reason, resolving the issue can often be difficult and expensive. According to the website of Slater Pugh, Ltd. LLP, they involve a wide range of risks and pitfalls that could have an impact on your commercial or personal undertaking. In this article, we shall be focusing on the different causes of real estate disputes.

1) Incomplete Information

When you do not disclose facts about the real estate property, conflicts may arise and you may be even held liable. Non-disclosure of vital information can also cause delays in the purchase of your property.

2) Fraud

Fraud in real estate happens when one of the parties involved in a negotiation makes a false representation and causes injury. An agent who withholds information can be subjected to actual and punitive damages.

3) Boundary Disputes

This usually happens when the boundaries are not clearly registered or determined. So it is important to research property boundaries to determine whether there are potential issues of disagreement.

4) Title Issues and Insurance

When you are buying a property, it is important for the title to be clean to avoid any conflicts and disputes.

5) Breach of contract

Any purchase and sale agreement is a form of contract between the buyer and seller of the property. When the parties involved do not live up to their end of the agreement, they can be held liable for breach of contract. As such, the aggrieved party can pursue damages resulting from the breach of contract.

There is no agency or governing body that regulates the real estate industry. For this reason, it is quite common for disputes or conflicts to arise. For any transaction, it is important to have a clearly drafted contract.

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