Unfortunately not all home sales work out well for both parties. Litigation is often the result of poor paperwork and incomplete disclosures about the property. When a home is sold, the seller is required to provide a detailed report called the Transfer Disclosure Statement. This statement is designed to give the prospective buyer as much information about the property as possible. Things that should be disclosed are the condition of the structure, problems that have surfaced in the past, information about the neighborhood, whether or not lead paint is present and any other information that could influence a buyers decision. Sometimes after a sale has been finalized and the new owner moves in a problem will arise that will lead to a lawsuit. Lawsuits of this nature are usually long and expensive with neither party coming out ahead. The best way a seller can avoid a lawsuit such as this is to disclose everything they know about a property when sell it. A buyer can avoid this situation by having the property thoroughly inspected before finalizing the sale. If these two things are done most lawsuits about a property’s condition can be avoided.

Unfortunately
[sentence adverb] used when you are mentioning a fact that you wish were not true
Eg. Unfortunately, you were out when we called.

Paperwork
[uncountable]
1, work such as writing letters or reports, which must be done but is not very interesting
Eg. Police work involves so much paperwork these days.
2, the documents that you need for a business deal, a journey etc
Eg. I'm leaving the solicitors to sort out the paperwork.
Work involving the handling of reports, letters, and forms.

Disclosure
[uncountable and countable] a secret that someone tells people, or the act of telling this secret；

Prospective
[only before noun]prospective employee/candidate/buyer etc；
someone who is likely to do a particular thing or achieve a particular position

influence
[transitive] to affect the way someone or something develops, behaves, thinks etc without directly forcing or ordering them;

finalize
also finalise British English, [transitive] to finish the last part of a plan, business deal etc;

lawsuit
[countable],a problem or complaint that a person or organization brings to a court of law to be settled
ￚsynonym suit
An action or a suit brought before a court, as to recover a right or redress a grievance.

Thoroughly: adv. completely

inspect
[transitive], to examine something carefully in order to find out more about it or to find out what is wrong with it