Property owner will not disclose
I am currently living in Portland, OR. And I am in putting offers in On multi family properties in Louisiana. So I have been negotiating on a duplex for 50k and I finally agree to pay 50k and so I ask them about the disclosure for the property. And they send me a disclosure exemption legal document. And what it says is that the owner inherited the property from a family member so he DOES NOT have to give a disclosure. So I am super new to all this and my question is basically should I run the other way? Is this legal? Ummmmm is there another way to make them give me the disclosure? Thanks again BP!!!
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Jon Holdman
#3 Real Estate Deal Analysis & Advice Contributor
#3 Real Estate Deal Analysis & Advice Contributor
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- Mercer Island, WA
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Jon Holdman#3 Real Estate Deal Analysis & Advice Contributor
#3 Real Estate Deal Analysis & Advice Contributor
- Rental Property Investor
- Mercer Island, WA
Its not unusually to not have a disclosure for rental properties. Or, if you do get one, it won't have much info. The seller doesn't live there and doesn't know the property like a homeowner selling their residence would. Go have a look and hire your own inspector if you're not comfortable evaluating the condition yourself.