Quote:
Originally Posted by A930Rocket
My understanding if something major happens to a house, you have to disclose it to the buyer. What constitutes major, I’m not sure.
A little over 20 years ago, I had a house that was 45 days from finishing and burned down to the foundation. The exterior was finished with a brick front, cabinets installed that day with the trim load in the garage. Even the driveway was poured. We could have salvaged the footers, but would have had to disclose that.
We tore the footers out and started from scratch.
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Anything that may affect a person's decision to or not to purchase. It could be a physical aspect of the property such as mold an abandoned oil tank in the ground maybe your foundation or as I said previously the property is an ancient burial ground.
It may also be external, your knowledge that a sewage treatment plant is going to be built across the street or that the school that is across the street has been sold is being torn down and single-family home will be going up.
Ironically if you know a pedophile lives next door it is illegal to disclose that.
It is better to disclose than not to disclose no matter how insignificant but the "duty" to disclose in some instances is unclear.