Posted by Terry (Houston) on February 25, 2001 at 08:36:33:
Thanks,
I sign off at noon so that was a big help!
Terry
Disclosure question - Posted by Terry (Houston)
Posted by Terry (Houston) on February 24, 2001 at 23:44:33:
I have a house I took over subject to. It flooded from a flood in 1994. The owner told me when I took it. I am selling it CFD. The buyer knows that it had water in it. I want to disclose that the house had water in it from the flood.
What would be a good terminology for this since I have no direct knowledge of the repairs done or still needed? It does not appear to need any repairs but I want to cover myself from a disclosure standpoint.
PS.
Want to get your significant other strongly involved? Have them there when the buyer hands you non-refundable deposit of $20,000. The dance she did was great. (after the people left of course) She had never been with me before on closing the deal and the money just went in the bank. She also didn’t want to do the deal to begin with.
Re: Disclosure question - Posted by Vic
Posted by Vic on February 25, 2001 at 24:43:44:
Current seller has never lived in property & has no first hand knowledge of property, other than what is disclosed in this disclosure. Previous seller states that the house flooded in 1994 & that they repaired it as follows… Seller advises buyer to hire his own inspector to inspect the home for any previous flood damage.
That should do it for you.
Vic