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I watched the show featuring a Dentist and physician. They started with a budget of $700k and ended up paying $815k plus closing costs and choosing a $686k house with an initial estimate of renovations costing $60k. Anyways, in the remodeling process, they discovered moisture damage under the flooring. As they were remodeling the walls, there was extensive mold that required halting the remodel until the mold was treated.
I was shocked at the response that this had to be paid out by the new owners. Is that true? Shouldn't there have been a disclosure regarding a flood or water damage?
This is what home inspections are for. Though something like that would be tough to detect I would imagine, if the inspector can't get under the floor (into a basement). Was there a flood? Was it just damage due to the wrong type of/incorrectly installed flooring on a concrete slab?
How old was the house? If its 100 years old I wouldn't expect anyone to know that there might have been some high water 75 years ago. Did this damage happen during the previous owners tenure or prior to? No the owner does not have to disclosed anything, but the selling agent does, IF THEY KNOW about it or can reasonably be expected to been able to find out about it doing due diligence. If they asked the homeowner and the homeowner said "no" thats about all you can do.
Things like that are a risk in any home purchase. Did they day if they bought the home "as is"?
And yes those shows are scripted. The owners probably knew about it, contacted the show, and acted out the home buying experience and then "suddenly" discovered the mold.
Nobody every really knows whats hiding in the walls or under floors until you start ripping them out.
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Originally Posted by wireyourworld
And yes those shows are scripted. The owners probably knew about it, contacted the show, and acted out the home buying experience and then "suddenly" discovered the mold.
Nobody every really knows whats hiding in the walls or under floors until you start ripping them out.
One of the above, most likely the first. This is after all, TV.
For the rest of us, though, sellers must disclose anything that they know. In a case like this, sellers really may not know about it, but could easily claim they didn't since it was hidden. If the inspection misses something that's hidden and the sale has closed the buyer is stuck.
In our state it is the owner who has the primary responsibility for disclosing known defects. I agree with Hemlock about the low probability of being able to prove that the owner knew about the hidden damage if the inspector missed it.
Once it has closed escrow, the buyer is pretty much stuck if there is a flaw that the inspector didn't catch.
Even brand new houses are not flawless, and when you purchase a house, you really should be planning on doing some repairs and modifications. They all need something. That's just the way life is.
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[quote=oregonwoodsmoke;28273224]Once it has closed escrow, the buyer is pretty much stuck if there is a flaw that the inspector didn't catch.QUOTE]
Not always true. There was a well known case in FL (Davis vs. Johnson I believe) in which the buyer proved the seller failed to disclose a known issue that was discovered after closing.
[quote=dontaskwhy;28276066 There was a well known case in FL (Davis vs. Johnson I believe) in which the buyer proved the seller failed to disclose a known issue that was discovered after closing.[/quote]
Right, but note that it was a known issue. If the sellers don't know of the issue, they can't be expected to disclose it. The question becomes whether the buyer can prove that the seller knew of the issue, but failed to disclose it.
TV shows are just that, entertainment. Who would watch that show if there wasn't something wrong so that you keep watching.
It is called the Discovery Channel Syndrome where simple things are made to appear to be the end of the world.
Next, BillyBob sits down only to find there is no toilet paper. Could this be the end of his drafting career? (a knock on the door and billybob looks up surprised) Fade to commercial.
I just thought that this episode was a total FAIL for the Property Brothers. What I hate is when they show a house well beyond the person's budget. Then they show two pieces of crap and renovate it. I don't think it's something I would go for. The show is pretty hokey. I agree. I just think, "these idiots are going for that?"
Anyways, there would be no way to tell and they did have a home inspection beforehand. I was just wondering if there was any protection for the new buyers because I'm sure it happens more often than not.
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