Yes, it was your responsibilty to fill out the Seller's Disclosure as completely and accurately as possible. If this was done and the buyer signed the Seller's Disclosure as is required I'm not sure what the issue is. If you did not disclose the information on the Seller's Disclosure this could become a very difficult time for you. First I would put all the paperwork together and while doing so check your Seller's Disclosure and then I would contact a good attorney and have them review the situation.
Elizabeth Cianciatto, ABR, e-PRO, CNMS, CNRS
Coldwell Banker Res. Brokerage
Flower Mound, TX
To directly answer your question:
The first stop should be to contact a real estate attorney because only they can advise you on a proper course of action. They'll likely contact your realtor/broker. Your realtor/broker will have the documentation on file proving the disclosure of the property's condition to the buyer AND the signatures of both parties acknowledging that fact.
Best confer with attorney, up to property owner disclose the issues based on seller disclosure document.
Buyer confirms receipt of seller disclosure part of executed contract and included with closing documents. If buyer accepted the seller disclosure could be mute point. HOWEVER no one can render opinion WE don't have entire set of documents including all closing statements.
In Illinois the Seller is responsible for filling this information out to their best knowledge and that disclosure form filled out and signed by the seller and then by the buyer at the time of making an offer should inform the buyers with all that is know to the sellers....
And than there is an inspection to which the Buyer has the right, and if they were working with a Realtor, that
Realtor would have made sure that the inspector knowing about any issues on the Sellers disclosure form would have checked out In your case the foundation issue....
So I am not sure why you are thinking that this was your real estate agents job... so not knowing all the circumstances your best solution is to go back to your real estate attorney if you used one for the closing on your property and look at the contract, the disclosures filled out and signed - was there an inspection done after a contract was signed and only that real estate attorney with all documentation at hand, would be able to advise you.
Make sure you get that legal advice and it would not hurt to double check with your Realtor, what documentation was made available, although you should also have all docs in copy available.
Your Chicago and Northern Illlinois Expert
Web Reference: http://rubloff.com/agents/glenview/edith_karoline__jass...
You need to consult with an attorney right away. There are very specific responses that need to be made to the suing party and only an attorney should be advising you and preparing them.
As for your question .. the link below will give you a little information on the subject to help you better understand the seller disclosure resposibilities in Texas.
Best of luck .. Bruce