Skip to content

Let's keep in touch

Subscribe to our newsletter for timely insights and actionable tips on your real estate journey.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions
Followed Discussions Followed Categories Followed People Followed Locations
Real Estate Agent
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 7 years ago on . Most recent reply

User Stats

13
Posts
3
Votes
Chris Witt
  • Specialist
  • Chicago, IL
3
Votes |
13
Posts

Disclosing Previous Inspection Findings?

Chris Witt
  • Specialist
  • Chicago, IL
Posted

Question for all the agent/brokers out there. 

I would like to buy a property that has been contingent twice, each time falling thru after inspection. I understand previous inspections reports are the property of previous prospective buyer, therefore the seller is not able to share a full blown report with another buyer as it is not their property. 

However assuming the buyer disclosed specific information to the sellerfor whatever reason...either in negotiations or just for the seller's reference (ie your foundation is cracked and needs immediate repair), does the seller and/or agent (depending on who was privy to said information) have any obligation to disclose that information when asked for it by another buyer? 

I understand the seller's agent has a fiduciary responsibility to the seller and offering that information unsolicited is not in the seller's best interest, however what is the point of the disclosure statements if the seller does not have to disclose that type of info? I also understand proving what a seller knows can be difficult - let's look past that part for this post.

Just to be clear, I'm not asking for the numbers from the past deal and I do realize an inspection report is subjective. I'm just trying to avoid going through the same process wasting everyone's time. 

I have read similar posts but still do not have a definitive answer so hoping to get some good insight here. 

Most Popular Reply

User Stats

17,726
Posts
30,684
Votes
Russell Brazil
  • Real Estate Agent
  • Washington, D.C.
30,684
Votes |
17,726
Posts
Russell Brazil
  • Real Estate Agent
  • Washington, D.C.
ModeratorReplied
Originally posted by @Chris Witt:
@Russell Brazil understood. But what about owner disclosing info? Assuming previous prospective buyer mentioned something other than "I'm backing out because of something found during my inspection". I have to believe if a buyer used inspection contingency to withdraw that the seller knows what exactly the issue was. No?

 Not if the listing agent is doing their job properly. If they are opting out, or are going to request unreasonable compensation, we dont want to know the specifics so we arnt forced to disclose. Ignorance in these situations is empowering.

If someone sends me a home inspection report that Ive not solicited, I delete the email.

business profile image
District Invest Group
5.0 stars
45 Reviews

Loading replies...