Actually we went through a real estate sales person that represented both parties...the seller(us) and the buyer. And the buyers were part of the home inspection along with the appraiser...we feel pretty confident that we covered all bases...but want to make sure that we wont be legally bound by something that we were totally unaware of in the 9 years we owned this home. I guess we are mostly wondering if there would be any responsibility from us financially to fix this problem, since it is a new one and after the sell of the house at the beginning of September 2007.
Thanks for your previous answer.
If you truly had no kowledge and had all the inspections done and did what was asked, the buyer does not really have a legal leg to stand on. I would contact your licensee and let him/her know what is happening (if you had one)
if they want to persue the issue they need to contact their licensee and file a surety fund claim. (I doubt they will win any claims though)
If it was sold "For Sale By Owner" depending on what disclosures and conditions were in it, you very well may be liable.
Feel free to contact me if you need more info or assistance. Knowing the whole story always helps.
Thanks! Good Luck!
(Licensed Realtor in Alaska)