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Updated over 5 years ago on . Most recent reply

Account Closed
  • Rental Property Investor
  • Windermere, FL
2
Votes |
16
Posts

Not disclosing sellers disclosures?

Account Closed
  • Rental Property Investor
  • Windermere, FL
Posted

Long story short...

We just closed on a house and during the initial process the sellers agent told us there were no seller disclosures. The day after we closed on the house the sellers agent sent our real estate agent a document and said, by the way I forgot there ARE sellers disclosures, please sign and return.

The disclosure was that the house was tented for termites two years ago.

Any existing damage is TBD, there will now be a termite inspection but it’s a block house and we didn’t have any old termite damage show up during our regular inspection. My main concern is about the black mark this has left on a future sale of this investment property as we will have to disclosure this to any future buyers.

Wondering if anyone has input on recourse in this situation?

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Bill B.#3 1031 Exchanges Contributor
  • Investor
  • Las Vegas, NV
9,683
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Bill B.#3 1031 Exchanges Contributor
  • Investor
  • Las Vegas, NV
Replied

As Brian said I expected your story to end with it was a meth house, or a murder house. Termites you can check for and be done with. But your agent also dropped the ball. As Brian also mentioned you always get either a sellers disclosure or a usually state issued form that basically says the owners never lived here so they aren’t providing one, (same thing bank reo’s say) but you have to sign that as well. You agent should have had a checklist with that space waiting to be checked prior to closing. 

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