Agent

As-is sale does not excuse false disclosure

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

DEAR BARRY: We just purchased a foreclosed home. The seller, a large bank, did not disclose there was a mold problem. The mold was found during the final walk-through inspection, and the bank agreed to have it removed. A week later, the bank reported that the removal was completed, so we closed escrow. But when we moved in, we found that the mold was only partially removed, and paint was used to cover the places where the mold was left. This has now been confirmed by a mold inspector. According to the bank, this was an "as-is" sale. Do you think it is liable for the remaining mold removal? --Joan DEAR JOAN: An as-is sale does not excuse false disclosure. If the bank hired someone to remove the mold and then reported that the work was complete, it should assume responsibility for completion of the work, as disclosed. You should also find out who was hired to do the mold removal. Concealing mold with paint while claiming that the mold was removed could get thos...