I've seen a thing or two in my 9 years, and in fact today I am still wrestling with a condo I bought in 2009 - my first home - which, like most of the damned condo complexes by the beach here in the Lowcountry of South Carolina, has construction defects.

Somebody wanting to sue for you backing out of a bad deal or accusing you of selling them a property with defects like unknown termite damage).

One thing I would caution you on is that if one wall has a defect the other may have similar flaws that have not shown up yet. 

In that case, the seller and listing agent are required to disclose any and all defects noted in the inspection report.  

Hello,Just a few questions I wanted to ask for anyone who can help.What happens when the seller knows of a material defect that may affect the value of the home?

They actually can offer guarantees for workmanship error as well as material defects that are both covered by GAF and are NON prorated.

You are stuck with these....Get a defective property, bad location or overpay-- it can be uncomfortable and make you feel bad everyday (and lose you money).

It's a visible defect and people will walk away without further consideration even if you have all the engineering reports in the world.

A: There is a guarantee for 1 year for defects and materials.Q: What is the usual turn-around time needed for the purchase of a property?

And yes, I frequently buy w/o title insurance mainly because I by property with apparent title defects that title insurers won't insure.