What happens if the Seller does not want to provide a Property Disclosure Statement (PDS)??
I'm sure you have seen some properties advertised in an "As Is" condition or perhaps you have made an offer on a home where the Seller refuses to provide a Property Disclosure Statement. What does this mean to a prospective Buyer and what are the ramifications? There is a fairly high obligation on the Buyer to inspect and discover any patent defects in the property they are purchasing. Caveat Emptor, puts the onus on the Buyer to have a duty to investigate and discover deficiencies that "could have been discovered upon a reasonable inspection and by making reasonable inquiries." However, there are several exceptions to the rule of Caveat Emptor, such as: when a Seller breaches his duty to disclose a latent defect which renders the property dangerous and/or uninhabitable. If you encounter one of these situations on a home purchase, just ask your real estate professional for direction on the best course of action to deal with these scenarios.