Question Details

Tmb, Home Buyer in atl

Seller's Disclosure Modification Rules

Asked by Tmb, atl Mon May 19, 2008

We have an offer on a home. The asking price was good value. During inspection, in a corner of basement inspector noted carpet was damp, pulled up the carpet and while there was no puddling the wood tack board was damp and slightly moldy. No obvious sign of long term water presence/leakage. House is 28 y.o.. Carpet seems new. I’m suspicious - did seller low ball price, hoping for quick sell w/o disclosing leak and hiding it under new carpet? I learned seller was incorrect on disclosing HOA special assessment fees.
Input sought on:
I asked my agent "what would show up on the current sellers disclosure - would it show that the leak was found?" Her response: leakage would not need to be disclosed to other potential buyers at this point while we are under contract negotiation timing. If we terminate the contract, the sellers would then need to disclose the leak or disclose that there was a leak and its been repaired.
Is this correct?

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Answers

1
If there are no obvious signs of long-term damage, then the new buyers may not care if it is there or not.
Where is the water coming from?
Get a receipt for the carpet. Where was it purchased? Who installed it?
Does this warrant testing for mold?
0 votes Thank Flag Link Mon May 19, 2008
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