Home inspections

[TexasHorseLady]

Yes, or adjust the price accordingly, or get estimates and offer allowances. That's why I advise my sellers to have a pre-inspection, so they can either fix anything found or price the home accordingly (and so they won't have any unpleasant surprises from an inspection during the option period and, if there ARE unpleasant surprises from the inspection, can make decisions about what to do about it in relative leisure, not under the pressure of the option period, which makes for better decisions).

[olecapt]

Originally Posted by middle-aged mom

Just curious here..... if the "in due course" holder is served with an inspection report and the deal falls apart, are they under any obligation to disclose knowledge, going forward?

The way the law is written in NV and I think most places...NO.

They are simply excluded from the disclosure laws. They can disclose but there is no legal compunction to do so.

[TexasHorseLady]

I'm going to have to go dig out the statutes in Texas and see about this. I know that someone who is not in a position to know about a house because they've never lived there, they're a relocation company, bank that foreclosed, inherited the property but never lived in it, etc., etc., doesn't have to disclose because they don't know, but I've never thought about that scenario - offer is made, inspection discloses problems, inspection report is sent to them, now they are in a position to know. Interesting. Wonder if the statutes address this in Texas.

[Rakin]

THL here in TX if someone is exempt from mandatory filling out a sellers disclosure they would not have to disclose if they recieved the info from an inspection. If it was a material problem it would be our duty as their agent to recommend they do disclose.

We had a situation similar to this where a sister was executor of her brothers estate. She didn't have to fill out a disclosure but in her best interest she did disclose his death in the house and a few other problems she was aware of at the time we listed.

[TexasHorseLady]

Thanks! I wasn't looking forward to digging through the statutes, even though that's something I usually love to do. (Yeah, I know, weird, huh?)

Like I said, I'm all about disclosure, but was wondering about the legal requirement in that unique situation (relo company - or, as you say, heir - not having information and then receiving it).

[middle-aged mom]

Originally Posted by Rakin

There have been several times we have told the buyers agent to not send us the report. Inspections can vary in what they say and if we have it in our possession we would have to disclose something that may not really be a problem.

In my area, the buyer's attorney handles the communication of inspection issues to the seller's attorney. Most, routinely send the full report and a list of those things the buyer wants cured. There is a 50-50 chance that agents will not even be copied. It's bizarre.

[middle-aged mom]

Originally Posted by FrozenAngel

She was a dual agent for us both.

Well, there you go. How can she serve two masters, equally well? In the end, in some, not all, dual agency situations, the one being served is the dual agent.

I am thinking if I had been in that situation, I would be inclined to treat it as a potential new requirement in the buyer's house hunt and want to know why they wanted, whatever it is they wanted and take it from there.