t's your worst nightmare. After a week in your new home you discover a leaky roof, a crack in the foundation and problems with the electrical system. Until recently, you had practically no recourse. Once you became the legal owner, all promises and problems "merged with the deed." In some states, even a claim of deliberate fraud wasn't enough to void a deal.

Today this grim scenario has changed. If anything, the tables are turned. Now sellers, real estate agents, builders, title companies, attorneys, inspectors and even lending institutions may be liable for damages to the buyer.

As a buyer, your rights and remedies come from one of three sources:

Your contract of sale is your first line of protection.

Although many of the terms of your sales contract relate to matters taking place before the closing, some of the provisions can form the basis of your future claim. Conversely, waivers and disclaimers of defects, and "as is" clauses, can be used to counter your claims for relief.

The following seven contract clauses could seriously hurt your efforts to recoup your losses:

Careful attention to these clauses will ensure that you aren't left financially alone with a lemon. Make sure inspectors and appraisers are aware of any waivers, so they can assess how big the problem might be. And before you sign, get prices to repair known damage if you buy a property "as is."

The good news is that you aren't the only one who has to pay attention to possible problems in any home you buy. Judicial rulings have increased the responsibilities of brokers, sellers, inspectors and appraisers for any defects in property that aren't discovered by the buyer until after the closing.

The landmark case of Easton v. Strassburger (Calif., 1984) determined that a real estate agent has a legal duty to investigate certain red flags and disclose problems to the buyer. In Easton, the agent knew of soil problems that indicated a need for soil testing. No disclosure was made and the home eventually was destroyed by a landslide.

In cases where the buyer is injured by the fraud or negligence of an entity hired by them, such as the buyer's inspector, appraiser, attorney or title company, liability is even more clear and direct.

Now that you know your rights, use them.

If a defect is small or routine, take responsibility. Every home has its problems. But if there are several small defects or one big one, inform everyone that may be liable (in writing) and do so immediately.

Check with a lawyer as to the statute of limitations in your state for breach of contract and negligence. If you don't get satisfaction, you may have to bring a lawsuit. If so, check the damage limits of your small claims court. Often, you can bring suits ranging from $2,000 to $3,000 without hiring an attorney.