Agent

Fixed defects: ‘water under the bridge’?

Seller worried about disclosure violation

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DEAR BARRY: My home was inspected about eight months ago, but the buyer backed out of the deal. Since then, I've paid contractors to repair the defects that were found by the buyer's home inspector. Now the home is back on the market, everything has been fixed, and I don't know if I'm required to disclose the old inspection report to future buyers. What are the rules regarding the disclosure of a past home inspection report? --Lou DEAR LOU: The rules that govern real estate disclosure vary from state to state, but the basic requirement is to disclose every known condition that could be of concern to a buyer. Most buyers are not concerned about conditions that have been repaired, except to know that the repairs were done correctly and completely. But there is an overriding issue, apart from full and honest disclosure. It is the potential for frivolous claims and lawsuits. Even though defects have been corrected, someone could still declare, "You should have told me abo...