What is a patent defect?
A patent defect is an obvious defect in the home. Basically, it’s a defect that shouldn’t be too difficult to identify, requiring a home inspection at most.
This is in contrast to a latent defect, which may not be revealed by a home inspection and may only become evident months, or even years, later.
The home seller has no obligation to fix patent defects, but the buyer will naturally want to make the purchase contingent on such defects being fixed.
Examples of patent defects include:
- Broken windows.
- Cracks in the wall.
- Broken light switches.
- Broken cupboards.
- Rotting woodwork.
On the subject of purchasing a home, bear in mind that ooba Home Loans can help you get the best deal on your home loan by submitting your application to multiple banks (including your own), allowing you to compare deals and interest rates.
We also offer a range of tools that can make the home buying process easier. Start with our Bond Calculator, then use our Bond Indicator to determine what you can afford. Finally, when you’re ready, you can apply for a home loan.
