Here are some of the most common major issues that come up during inspections. : Old chimneys can be a safety hazard, and they often need to be removed if not in working order. Most buyers request a home inspection when buying a home so they can avoid spending thousands (or more) in unexpected repairs after closing, and to protect themselves from overpaying for the property. Federal law requires sellers to disclose the presence of any known lead-based paints in the home, provide the buyer with an EPA-published pamphlet on lead-based paint, and get and keep a signed statement from the buyer saying that these disclosure requirements were completed. If you’ll be taking care of the repairs, you’ll want to get at least three quotes from reputable contractors. However, sellers who may be concerned about what might be found in an inspection sometimes opt to. B. Edward McCutchan, Jr. You can always offer to barter with other items, like furniture that wasn’t originally included but the buyer might want, or appliances you weren’t planning on leaving behind. If you use an agent, you only communicate what you want to the agent. Buyers choose their own home inspector, and occasionally a seller will feel like the report is incorrect or exaggerated. And, would you recommend we go ahead and have a mold inspection done? buy or renew The offer will account for any needed repairs or updates ― but we’ll do all the work, so you can move onto closing quickly. By John Herman Managing Real Estate Broker with Property Up Inc. #471.017853 Email Short URL Share: June 06, 2019 08:39 AM. Despite the fact that disclosing in writing to a potential buyer a prior third-party expert report of the property being listed on the market, California law under Civil Code section 1102.1 requires the disclosure of all prior reports on a parcel to potential third-party buyers before close of escrow. Are you ready to So, they should want to move the deal forward as much as you do. Home inspectors have been sued before by sellers who believe a deal falling through was the fault of the home inspector and their incorrect reporting. If you could have identified the repair when you first walked through the home, it’s not a good idea to request the seller fix it after the home inspection. A home inspection contingency is an addendum to the offer contract that allows the buyer to conduct an inspection and then back out of the deal if they are unsatisfied with the findings. Category: Blog, California, Home Inspections & Warranties, Legal Updates, CRES A Gallagher Affinity Division | License #0D69293 | Copyright © 2020. In transfers not subject to this article, agents may make required disclosures in a separate writing. Negative prior third-party expert reports on the listed parcel most likely can impact a future sale of the property, if the noted problem has not been rectified by the seller. It might not be the seller's to give away. Edit: I just reread your original post. In Washington, there is a law that requires sellers to fill out and give the buyer a “seller disclosure statement.” That law can be found in chapter 64.06 RCW. The Legislature did not intend to affect the existing obligations of the parties to a real estate contract, or their agents, to disclose any fact materially affecting the value and desirability of the property, including, but not limited to, the physical conditions of the property and previously received reports of physical inspections noted on the disclosure form set forth in Section 1102.6 or 1102.6a, and that nothing in this article shall be construed to change the duty of a real estate broker or salesperson pursuant to Section 2079. California Civil Code section 1102.1 which pertains to the disclosure obligations of a seller who owns real property states: “(a) In enacting Chapter 817 of the Statutes of 1994, it was the intent of the Legislature to clarify and facilitate the use of the real estate disclosure statement, as specified in Section 1102.6. your E&O policy? We have wiped it clean, but it comes back after a month or so. Although rules vary from state to state, you should disclose if you believe your house to be haunted or know of any paranormal activity inside. Sellers who know they have lead paint in their home and fail to disclose it can be held liable for up to a decade, and they can be sued for triple the cost of damages suffered, so always disclose what you know about lead paint in the home. Court decisions in California for decades make it very clear that sellers (and their real estate agent) have the duty to disclose prior inspection reports on a listed parcel that are in the possession, custody or control of the seller regardless of who initially paid for the report. Back The language in each contract varies, but usually it states that the inspection must be satisfactory to the purchaser, and if it’s not, they can renegotiate the terms of the deal or call the deal off and receive any earnest money back in full. It’s up to you to do your own research and ask specific questions. Move when you're ready. The Residential Real Property Disclosure Report form covers 23 separate line items: Whether the seller occupied the property during the last 12 months. The seller’s representative doesn’t have to disclose patent defects to you, as these items can be found during a home inspection or are visible to the potential buyer’s eye. B. Edward McCutchan, Jr. Before you go too far down the path of arranging for seller repairs after the home inspection, it’s important to separate reasonable buyer requests from unreasonable ones. It is also the intent of the Legislature that the delivery of a real estate transfer disclosure statement may not be waived in an “as is” sale, as held in Loughrin v. Superior Court (1993) 15 Cal.
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