In MA, SELLERS through their Realtors, (slight technicality) are required to disclose any knows material defects that could adversely affect a buyerâ€™s decision to move forward with a purchase of a particular property. Even if the seller discourages their agent to be forthcoming, their agent is required to disclose what is known to be defective. Realtors are required to follow their clients â€œlawfulâ€ instruction and this matter would not fall into the category of a lawful instruction. Hope you find this helpful.
The inspection company will be able to point out all the problems they found for the previous buyer, but may not be able to give you any info without being hired to do another inspection (the results are the property of their customer, so they can't always share them). It's also possible that the previous folks deal fell apart over financing or an appraisal issue, too.
Ask the agent why the buyer backed out. Ask any questions you think of. Then ask more questions. Then try to think of some more to ask, too. If you forget the answer, ask again. If it seems like a dumb question, ask anyways. A homebuyer can NEVER ask too many questions!
If the seller refuses to disclose the needed repairs etc the seller can be held liable for up to 3 times the cost of the repairs.
I am sure some local experts can advise you on your market as well.
In any event, you should have your own inspection done, since conditions can change; either for better OR worse. For instance, pipes can spring leaks osince the previous inspection, or repairs/improvements may have been done.
Roxanne McCaffrey, Broker Associate, Century 21 Franklin Street Associates
David Cooper..Las Vegas Foreclosure Investor in Bank Owned REOs with Cash Flow. email or call for FREE daily list. +1-7024997037 not a real estate agent