There was a firecracker lit off in our basement of the house we are having built. Luckily it didn't burn

Amanda
Home Buyer
Arvada, CO

down. But the had to replace the pit in the basement and the whole house smells like smoke (no drywall up yet, only wood). So they want us to sign a disclosure about the incident. I am concerned about resale and how if we sign this it will affect us.

Answers (2)
Lynn911.com Dal...
Agent
Dallas, TX

I dont foresee any problem with a fire cracker causing any real damage to your home what does your realtor have to say?
http://www.lynn911.com
http://www.homes-for-sale-dallas.com

Sat Jul 12 2008, 15:35
Joetta Fort
Agent
Arvada, CO
FIRST ANSWER

I'm not sure who wants you to sign the disclosure, or why they'd want it. But as far as resale goes, you'd have to disclose anything that could be a 'material' fact to the buyer. In other words, something that would sway their decision one way or another, or something that could be a problem in the future.

For instance, you have to disclose if there has been a flood in the basement, because mold spores could have gotten started, and they could crop up again if they come in contact with moisture again.

If there was an actual fire, that's something that should be disclosed. Fire can affect the structural integrity of a house even if the charred parts are replaced.

I really can't give you more advice than that, because I don't know what the person who's having you sign the disclosure plans to do with it. Maybe it's more of a release form?

Your agent at the time you sell could advise you better. As far as whether or not to sign the form, what happens if you don't sign it? If you do sign it, you should speak to an attorney first.

Sat Jul 12 2008, 13:05

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