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We are in contract on a house and recently had our inspection. I just learned (be calling my insurance broker) that there was a claim made by the sellers under their homeowners policy for $30K for a fire at the property in 2006. We were aware that a major renovation was done in 2007 of the house but it seems like it coincided right after the fire occurred.
Our inspector did not find any evidence of any fire damage or structural issues (that he could see). We were told that there was some sagging of the beams in the basement that we should have checked out.
I just asked my broker for all the info regarding this fire but isn't this something that should have been disclosed? Should I be concerned? Would you proceed forward?
I would be concerned and would ask the homeowners directly. If they admit there was a fire but did not disclose I would likely walk because of their dishonesty. $30K in damage is basically a fire destroying one large room in a house. Might not mean structural damage. But you should consider hiring a structural engineer to check out the beams before proceeding. It might cost you $500 or more but it could be well worth it.
We are in contract on a house and recently had our inspection. I just learned (be calling my insurance broker) that there was a claim made by the sellers under their homeowners policy for $30K for a fire at the property in 2006. We were aware that a major renovation was done in 2007 of the house but it seems like it coincided right after the fire occurred.
Our inspector did not find any evidence of any fire damage or structural issues (that he could see). We were told that there was some sagging of the beams in the basement that we should have checked out.
I just asked my broker for all the info regarding this fire but isn't this something that should have been disclosed? Should I be concerned? Would you proceed forward?
If there was a fire that should have been indicated on their disclosure form even if ALL the damage has been repaired. Purposely not disclosing information about all the major systems and structural condition of the house is FRAUD !!! I would walk away from the deal as you can't trust anything they say anymore.
The sellers are saying that it was smoke damage from the dryer in the basement and that all their personal items were damged. We are requesting all the documents. Does this sounds right, $30K in smoke damage and then a complete renovation of the house?
The sellers are saying that it was smoke damage from the dryer in the basement and that all their personal items were damged. We are requesting all the documents. Does this sounds right, $30K in smoke damage and then a complete renovation of the house?
If the fire department was called to the scene they will have a complete report on what happened including the extend of damage and where including the source....try contacting them for information.
Think about it- if all of your personal items were damaged, could you replace them for only $30k? Now add in the cleanup of the smoke damage- $30 grand is nothing.
That said, if the disclosure form didn't specifically ask about such a fire, why do you think they had to disclose it? Last time I looked at that form, I don't recall anything about non-structural (or even structural) fire repairs.
Think about it- if all of your personal items were damaged, could you replace them for only $30k? Now add in the cleanup of the smoke damage- $30 grand is nothing.
That said, if the disclosure form didn't specifically ask about such a fire, why do you think they had to disclose it? Last time I looked at that form, I don't recall anything about non-structural (or even structural) fire repairs.
Would you like to be sitting in a courtroom witness chair explaining to the judge and jury why you didn't disclose fire damage to a buyer in your "disclosure" contract ??? Whats your defense......you forgot ? You didn't think they would want to know ?
I disclosed a remediation. So I would think a fire would also have to be disclosed, at least explaining why. It it was simply someone falling asleep smokiing, or something serious that included the electrical system in the home.
Think about it- if all of your personal items were damaged, could you replace them for only $30k? Now add in the cleanup of the smoke damage- $30 grand is nothing.
That said, if the disclosure form didn't specifically ask about such a fire, why do you think they had to disclose it? Last time I looked at that form, I don't recall anything about non-structural (or even structural) fire repairs.
this is what i thought, a fire does not have to be disclosed
Would you like to be sitting in a courtroom witness chair explaining to the judge and jury why you didn't disclose fire damage to a buyer in your "disclosure" contract ??? Whats your defense......you forgot ? You didn't think they would want to know ?
i dont think thats the issue, i think the issue is does the law require it. if its not required, its not required.
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