Posted by William Bronchick on October 14, 2003 at 08:56:25:
Generally speaking, a seller has a duty to disclose any known, latent (hard to discover) defects that would materially affect the property. However, you may check your state law to see there if any specific disclosures are required. Furthermore, if an agent was listing the property, there are always required disclosures on their part.
Failure to Disclose??? - Posted by kerry
Posted by kerry on October 14, 2003 at 07:43:33:
Recently bought a house in Indiana. Since moving in, I have learned that the entire neighborhood had signed a petition to be connected to city water and sewer, which will cost me lots of $$ – approximately $20K. Should this information have been disclosed? Had I known, my purchase offer would have definitely been significantly less.
I have also heard from my neighbors that the first owners (I’m the third) installed a pump in the back yard to improve drainage, and this pump is connected (illegally) to a storm sewer. The yard has very poor drainage. The second owners probably only knew about it they way I do – neighborhood gossip.
My sump pump also runs continuously, due to the 30+ gallon/hour that is running into the sump pit.
I think all this information should have been disclosed. Do you agree?