Home Selling in South Paris>Question Details

Sonya Macdon…, Both Buyer and Seller in South Paris, ME

How binding is a purchase and sale agreement? My agent filled out and had all the paper work signed by the buyers. Buyer is coming back and saying

Asked by Sonya Macdonald, South Paris, ME Tue Jun 22, 2010

they had damage from water in the basement, some flooring coming up, and problems with the leachfield. Do they have a case? Buyer did not want to do any inspections, did a walk through, and closed. As the seller am I protected? Closed on the home in November 2009

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Disclosure, disclosure, disclosure! If these were existing issues prior to selling the home and you disclosed them... then the buyer should already know about them and you are covered. If they are new issues which never previously occurred and have happened since the purchase of the home then you could not have disclosed them. However, if these have been ongoing issues that you did not disclose during the sale, the buyer has a case.
The buyer's only recourse is a suit at this point. The buyer will need to prove that you were aware of these issues and did not tell them. If an inspector goes and and finds evidence that this has been a recurring issue the buyer can prove his case.
I would get all my documentation together and have an attorney in mind if it comes to that. Good luck!
Linda Gardiner
Better Homes and Gardens Real Estate Town & Country
Bangor, Maine
0 votes Thank Flag Link Wed Jun 23, 2010
Hey Sonya,

As long as you disclosed all the material defects you knew about the property, you should be covered. Obviously the Buyer can threaten suit. You should make sure that you have copies of the disclosures in case they pursue damages. You should contact an attorney to protect yourself if the Buyer contacts you about the damages. It is always better to be safe than sorry!

If I can be of further assistance, please feel free to contact me...

Blessings!!
Steve Dyer, CRS
Keller Williams Realty
50 Sewall St., 2nd Floor
Portland, ME 04102
207.975.9330
steve@TheMidCoastGroup.com
1 vote Thank Flag Link Tue Jun 22, 2010
Did the damage occur after the home was sold? If so, it should be covered under the buyer's home insurance policy. Are they asking you for damages?
0 votes Thank Flag Link Tue Jun 22, 2010
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