Never become a victim!
The term latent defect is used in the real estate industry pertaining to the selling or buying of a home. A latent defect is defined as a fault in a property found after a buyer purchases a home. This defect could not have been discovered through a detailed home inspection and was also not disclosed in the agreement of purchase. This allows the buyer to recover damage loss if defects are found after the purchase. If this is discovered, the seller is obligated to prove they did not know about the defect prior to selling.
An example of a latent defect could be purchasing a home which contained water damage on the ceiling. This water damage was purposely hidden by the seller with a coat of paint and was not found during the home inspection.
It is important that when purchasing a home, you are aware of all information provided to you in order to protect yourself and to never become a victim.
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