The fact that they did not want to provide one raises suspicion. I am suspicious even when a disclosure is signed and delivered.
The best remedy is a thorough inspection by a true and professional inspection company with a track record .
The other is due diligence conducted on your own in city building and zoning department. Check for violations, permits, special assessments history. Contacting insurance companies provides further insight on elevation flood zones.
Not leaving anything to chance the last and final and most important protection is Title Insurance.
There is no insurance for problems that creep in areas that are not visible to the naked eye or inspectors have no access to. Home ownership has itâ€™s risks one of the bets protections is not overpaying for it.
The Seller(s) in this example are not exempt from completing the required disclosures. If your Realtor checked the box next to Seller Property Questionnaire on the Residential Purchase Agreement and the Seller(s) did not counter this out then the form must be completed. Even if they have not actually lived in the home. They still have owned the home for a period of time. And when they purchased the home, detailed disclosures where given to them as well. Unless they purchased the home from a Bank Foreclosure. Furthermore, all standard disclosures including the Transfer Disclosure Statement, Lead Based Paint, Smoke Detector Installation, Water Heater Strapping, Supplemental Statutory Disclosure, and the Natural Hazard Disclosure Statement must be completed by the Seller(s). A separate Natural Hazard Disclosure Report should be ordered and turned over to you as well. Your Realtor and the Listing Agent must also complete their visual inspection of the home and complete their AVID disclosure forms as well. These forms must be completed by the Seller(s), signed by all parties including the Realtors involved and turned over to you within 7 days after offer acceptence unless otherwise agreed to in writing by you and the Seller(s). Lastly, make sure that you read all of the disclosures and complete all your property inspections. Do not cut any corners. It is your responsability as the Buyer to complete your due dilligence on the home prior to removing any contingencies. Should the Seller(s) continue to refuse to complete these required forms then I recommend that you cancel the escrow within your 17 day inspection period and get your deposit back. I hope this helps. Good luck with your escrow!
Technically, an investor is not exempt from disclosure. In your purchase agreement, you had the option of requesting an SPQ or a SSD. If you asked for a SPQ and the seller didn't remove this in a counter offer, they have to provide you a SPQ completed to the best of their ability. If it wasn't checked in the contract, it's a little bit more of a gray area. No matter what form they provide, the information will be limited since they've never occupied the property. When purchasing from an investor, it's very important to conduct your own due diligence. Hope this helps and good luck with your purchase!
The best thing to do is talk with the agent and/ or their Broker/Mgr and if all else fails talk to a Real Estate Attorney.. We can say what an agent should do or provide not being in your situation.. I recommend the above for you to do for your best interest..
Ingrid Ski Realtor
First Team Real Estate
They do have to disclose what they know, obviously they can't disclose what they might not be aware of. Please spend the extra money and get a good home inspection. Home inspectors will find out exactly what is going on with the house and you can then make your decisions based upon professional findings.
I would start by doing a walk through inspection. You do not want the expense of going into escrow if there is some sort of easy to spot problems. If the utilities are off, that may be hard because you will not be able to tell if many things like the hot water tank, heater etc. are working. So before your buy it, do not skip on the home inspections. Also, make sure that you are not being over charged pricewise. You do not want to pay for home inspections or appraisals, only to have wasted your time and money.
As a side note. You also may have a hard time getting financing, my company does loans on them. We require 2 appriasals though, we ask the seller to pay for the 2nd one.
My answer is that if you feel uncomfortable, a quality inspection by a reputable company is priceless. I highly recommend getting one done. You will most likely find a lot more than you bargained for, and it will give you more detailed information than most sellers or agents would be willing to provide.
I tend to trust 3rd parties with no interest in the transaction other than doing their job. An inspector does not care if you buy the home or not.
I hope this was helpful.
Orange County Real Estate Group
The best thing to do is have your agent talk to their broker and or legal dept. There are certain forms, that do not have to be filled out in short sales, REO's, Probates and Investors.. The agents brokerage can instructure your agent presenting you on how to proceed.. The would be the best and most advantageous way to help you. Good Luck. Ingrid Ski Realtor
All the best!
The seller is correct in stating that he shouldn't complete a property questionnaire since he has never occupied the property. Your agent appears to have a supplemental disclosure form which should suffice.
I'm in agreement with Ron that you should have a full house inspection. Also, ask the seller if any warranties are included.
Good luck with your purchase!
Prudential Connecticut Realty
That way at least you have something!
I would also recommend that you do intensive Inspections for both obvious reasons.
Good luck and may God bless