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Sellers marking all disclosures unknown even after prospective buyers had inspections and found major problems. Once they know a problem has been identified don’t they legally have to disclose?

This came up under another question I posted - commenters saying they wish they could share their inspection reports that resulted in the sale falling through (especially with major misrepresentations by seller).

Now my son is going through something similar. A buyer can get homeowners insurance and then the insurance company inspects the property AFTER the closing and demands things be fixed or policy will not be renewed. My son is looking at up to $20,000 in tree work, not covered in house inspection, on a $200,000 house. He’s probably going to get out of the deal, as he cannot afford it. The only reason he found out was his agent’s daughter is an insurance salesperson.

Just like with any other issue, house goes back on the market and some other unsuspecting buyer gets the $20,000 surprise after closing.

submitted by /u/DebJBee
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/1qj1kp7/sellers_marking_all_disclosures_unknown_even/
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