HELP!! Seller's disclosure and foundations (agent, Realtor, for sale, house)

[ldiamont]

Is there a statute of limitations on seller's disclosure statements?

We bought a house in 1996. Looking on HCAD, it says there is a cracked slab. I called HCAD and they said that, in 1992, the owner of the property reported that the slab was cracked. The seller's disclosure statement the previous owner signed had an "N" under known defects in foundation/slab when he filled it out in 1996. The appraisal that our lender had done in 1996 said that there were no foundation/slab problems.

We are currently preparing the house for sale and I am concerned. What are my options?

If the previous owner lied on the disclosure, do I have legal recourse even though it has been 11 years?

If he had the foundation/slab repaired, will proof of repair and the appraisal showing a functional foundation be sufficient to allay any potential buyers' concerns?

Any info would be greatly appreciated!

[dncngrl1964]

well you had a due diligence period I suppose where you should have brought in your own inspector to look it over
after that period I do not think you can do much about it

but if you do get it repaired and state that on YOUR disclosure and their inspector finds it to be ok then there should not be a problem

In any case my suggestion to you is to spend the $350 and buy a home warranty it protects you after the fact in case something bites you in the but

also Real estate is local cal your local agent and ask them about any statutes and be prepared to back it up with documentation

[olecapt]

`First thing ignore the Dncngirl post. It is utter nonsense and totally irrelevant. You really can get bad input on these lists and there is an example.

You are in to difficult territory. You likely need a lawyer at this point. The reason is that you are trying to determine whether you "know" something or not. In general disclosure requires personal knowledge of something. A mere rumor in the neighborhood does not count. But once you get input from a government agency that there was a problem...you may now "know" it.

That is a lawyer question. The best thing to do would have been not to ask.

Your other option of course is to forget that you asked. It is likely illegal, certainly unethical and indicates a flaw in your moral character. Practically however it is what almost all people in your situation would do.

In the case of the previous owner few of the statutes reach more than 10 years. If they did it to you they got away with it.

[2bindenver]

I do not know what a HCAD is but if there was some damage, and it was fixed there is no need to disclose unless there are continuing issues.

For example: If the dishwasher leaked 4 years ago, and you called in a repairman, and it was fixed, and never leaked again...there is no disclosure. There was a problem, and it was fixed, and there is currently no problem.

Sometimes the disclosure reads, if the seller has knowledge of any past problems, in which case the disclosure is asking for a complete history.

If you think it could be a problem 11 years later, you may consider hiring a structural engineer and have the report available to prospects.

[houston homes]

Hi I'm a Realtor here in Houston. I agree with one of the earlier post, at this point get a real estate attorney, that's your best bet. As far as future buyers, make available your receipts & warranties for their review. You can contact me with further question s.

Roger

[austin-steve]

Why not simply get a third party opinion?

Centex House leveling here in Austin comes out and provides free bids. They look at the foundation and check the levelness at all points and issue an opinion on whether a problem appears to be present or not. I'm sure there are companies in Hiouston who do the same. Find a reputable one that's been in business for many years.

If no problem is noted, you have nothing to disclose, and a document to prove it. If a problem is reported, you must disclose what you now know. As far as tracking down the previous owner, unless you can prove he knew and withheld the information, you have no recourse in my non-attorney opinion, but call your attorney and ask for advice.

Steve