In this instance, your daughter can still have the property inspected, and withdraw her offer if the inspection reveals any latent material defects.
David Barr, Broker Associate
941.870.0656 direct email@example.com
We use disclosures.
Our disclosures are: Mold, Radon, Property, Lead Base Paint, Wood Destroying Insects.
Not all are mandatory.
Unless the executor of the estate also lived in the home, he/she will have no knowledge of property condition. This doesn't preclude disclosures. For example, in our 23 question Property disclosure, the first question asks if the seller has lived in the home during the past 12 months. A lender will most likely insist on at least some disclosures even if they indicate no knowledge. Also, we use attorneys in this part of Illinois for real estate transactions. Find a good real estate attorney. Costs are approximately $450 in suburbs, and upward from that in Chicago proper.
Hope this helps.
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There's a lot to think about when buying a home, and one of the things we tend to focus on is, what are the seller's disclosures?
With an estate sale, the Seller isn't around to make those disclosures. The people who are left behind can't be expected to know much about the property, although I think in every state the broker or listing agent is obliged to disclose any hidden defects they are privy to. For example, if the agent was meeting with the seller before their death, the agent might have learned that there was a fire behind the wall that was patched over, that sort of thing.
All the best,
Under these circumstances, how do you obtain an accurate "seller's property disclosure" if the previous owner is deceased or incompetent?
In the case of a Bank or an Absentee Owner, they have no direct knowledge of the property.
If they state this, and then it turns out that they lived there, knew first-hand about the property, then they would still be liable.
They have to submit the form, stateing that they have no knowledge.