Who is liable for damage to home after sale if realtor did not reveal information

4 views 1 answers
Recently sold property explained to realtor possibility of flooding in basement during heavy rain. Now buyer wants compensation

Attorney Answer

1
Mark Oakley ·
Was the real estate agent your listing agent or the buyer's agent? Was the house sold "as is" or did you provide a disclosure statement? What were your exact words to the agent and can you prove what you said or does the agent admit it? Was evidence of past flooding in the basement capable of being seen with a visual inspection? The answer to your question depends on your answers to these questions, and this is a public forum and anything said here that is traced back to you could be deemed an admission. The agent has an affirmative duty to disclose defects of which they are aware. A seller has an affirmative duty to disclose latent defects of a material nature which are not discoverable by a visual inspection, even if you sold the property "as is". If you provided a standard approved disclosure statement, then basement flooding and leaks are a major part of that statement, and if you did not disclose this information on that form, then you are liable. Consult with a real estate lawyer in your area.
0 upvotes