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The Difference Between Patent And Latent Defects On A Property
13 Oct 2020
Defects
– A patent defect is a defect which is clearly visible. A latent defect is a defect is a defect which is not noticeable upon reasonable inspection of the property, such as leaking of a roof. In terms of the CPA’s Sellers disclosure, the seller becomes liable for latent defects.
It is very important for both seller and buyer fimiliariases themselves with these terms in order to avoid the delay of a transaction or financial breach between parties