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latent defects

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latent defects
Real property defects not discoverable by reasonable and customary inspection. If known to the seller, or to the real estate broker representing the seller, then each of them has an obligation to reveal such defects to a prospective purchaser.


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One key area of the guidance note is the detailed information regarding the growing market for latent defects insurance, which covers inherent defects to the building for a period of time which may occur from the initial construction.
As latent defects cannot be discovered by observation, caveat emptor will only apply when their existence was unknown to the vendor at the time of sale.
The product is manufactured using Anton[R] yarn with up to 30% recycled content, is rotary sheared for a tighter, sharper finished and enhanced colour, has a 10 year wear guarantee and is guarded against latent defects.
 
 
 
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