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Old 04-08-2013, 07:47 PM
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Default Re: House Buying in the USA

Originally Posted by williamhj View Post
Definitely pass on the inspector's report. In addition to what is said above, once the seller is made aware of the issues, I think they then have to disclose them to another potential buyer as part of the purchasing process. I think the term is they become a 'material fact'. That means that even if they refuse to address the problems and you walk, they will face them with the next potential buyer.
Absolutely correct. Once they are aware of the problems, they are legally required to include the information in the Seller's Disclosure, which means, either they fix them for you, or they fix them for someone else, unless they find a buyer willing to buy as is, and that buyer would probably have to be a cash deal as lenders don't like to loan money on property in bad condition. (I think Mrs. Eisenhart, my high school English teacher, would roll in her grave for that run-on sentence.)
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