Home Buying in 52001>Question Details

FirstTimeBuy…, Home Buyer in Iowa

Seller lied on P&S disclosure

Asked by FirstTimeBuyer, Iowa Wed Dec 19, 2012

I recently found out that a seller lied on his disclosure statement. While purchasing homeowners insurance, the insurance rep told me there was a hail damage claim last year that was paid to the seller however this was not listed on the initial disclosure statement. When I confronted the seller about this he admitted there was an insurance claim on the house however there were not any repairs made on the house. This makes me believe that there are other items not disclosed. My question is: Can I walk away from the purchase of this house knowing the seller was dishonest on his disclosur?

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If the repairs were made, and correctly, and you like the house; Why do you want to walk away?
Just because you're angry?
Can you see that he didn't see it as an existing condition, if didn't register with him.
Why not sit down and have a cup of coffee with him, before you make your decision?
1 vote Thank Flag Link Wed Dec 19, 2012
There were NOT any repairs made. The seller took the insurance money and pocketed it and is trying to sell the house.
Flag Wed Dec 19, 2012
There is Stucco brick not real brick on outside also
0 votes Thank Flag Link Tue Jul 8, 2014
The disclosure statements for our area only ask how old the roof is and if any repairs have been made that the seller knows of. So it could be feasible that the seller listed the age of the roof (or unknown if the roof was done well before he owned the property), and not have known of any problems. We also have a section that asks if there has been any type of claim made to the property in excess of $5,000. But again, it is feasible that this claim wasn't at least $5,000 in damage.
Either way, it's a little bit of deception but wouldn't be grounds to walk away.
0 votes Thank Flag Link Wed Dec 19, 2012
- In my opinion, home inspections aren't worth the paper they are written on. They are a good starting point to find issues with homes, however it is impossible to find all the problems a house has by spending a couple hours in the house.

Well, then - don't buy a house, build one.
0 votes Thank Flag Link Wed Dec 19, 2012
If you got your home inspected by a professional, and you trust the results of that inspection....then it really shouldn't matter what the seller disclosed (or failed to disclose in this case).

The disclosures, while well-meaning, in my opinion aren't really worth the paper they are printed on in most cases. Could you walk away from the deal? Possibly. Do you want really want to, or do you just feel deceived/angry? People purchase homes all the time without disclosures for anything. The point is that it seems like you are more "angry" over the sellers "deception", than you are the consideration of "Does this fact really affect the condition of the home at all"?

I would trust the results of the home inspector who should be working in your corner, more than I would I piece of paper the seller signed.
0 votes Thank Flag Link Wed Dec 19, 2012
In my opinion, home inspections aren't worth the paper they are written on. They are a good starting point to find issues with homes, however it is impossible to find all the problems a house has by spending a couple hours in the house.
Flag Wed Dec 19, 2012
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