Agent

Did cash buyers skip critical step?

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

DEAR BARRY: We recently purchased a condo. When the TV cable man was here, he went into the attic and said that there was charring and fire damage on some of the beams. It appears that there was a fire in the building, but this was not disclosed by the sellers. We paid cash for the property, so there may not have been a home inspection. What should we do about this? --Gregory DEAR GREGORY: There are three issues here: 1) the matter of seller disclosure; 2) the question of whether there was an inspection; and 3) the extent of the fire damage. Issue No. 1: If the sellers knew there had been a fire, they should have provided disclosure. Failure to provide that kind of information is illegal in most states. However, the fire may have occurred before the sellers owned the property, so they may not have known about the problem. Issue No. 2: If a home inspection took place when you bought the home, it would be because you hired the inspector. If you did not hire an inspector, that...