Since 1994, Nebraska and Iowa have required sellers of residential property to disclose known material defects. Neb. Rev. Stat. § 76-2,120 & Iowa Code § 558A. Many people encounter this when purchasing their first home. Buyers can rest easy knowing that if the seller fails to disclose a known defect, they have the opportunity to recover damages, and in Nebraska, this includes attorney’s fees.
With the proximity of Omaha, Nebraska and Council Bluffs, Iowa, many people seeking to purchase property in the metro area have expanded their search to include properties in both states.
Nebraska:
Iowa:
Sellers should be aware of these requirements and be sure to fully disclose any known defects and buyers should be aware of the safeguards in place for disclosures on residential property to ensure they know as much as possible about the property prior to purchase.