Google
Think Glink
Web
 
Articles by Ilyce

Disclosure Statement

REM # F771 - Disclosure Statement is Fraudulent

By Ilyce R. Glink

Summary: Seller's property disclosure statement is supposed to list all known problems. Seller disclosure cases are tough to win because you have to have proof that the seller knew of the problem in order to win the suit.

Q: My wife and I purchased a home in April. The previous homeowners filled out a seller's property disclosure statement in which they put down false answers on questions having to do with dry rot and roof leakage.
 

What recourse do I have since they answered falsely in the disclosure statement?

I have called the prior owners him to pitch in some cash to get the home repaired, but they won’t help.

I have since undertaken to repair the dry rot myself. I have taken pictures of the damage prior to fixing it. All I want is for the prior owners to reimburse me for the materials I have used.

Thank you for any advice you can give me.

A: If you want the sellers to pay for the materials you've purchased, you will likely have to sue them. If the sellers intentionally answered questions falsely about the property on the seller disclosure statement, and you can prove that they knew there were problems, then you may have a case and may be awarded damages and even attorneys’ fees.

But before you start hiring an attorney, you should know that seller disclosure cases are tough because you have to have proof that the seller knew, or should have known, about the problem. You can prove this by finding contractors who they hired to address the problem, getting receipts in some cases, interviewing neighbors who may have heard them gripe about the problem, etc.

If you can't prove that they knew about the problems, you will probably not win the case. While most states provide for attorneys fees for the homeowner if you win a seller disclosure case, you may have to lay out a significant amount of cash for the attorney ahead of time. You can avoid using an attorney if you sue the seller in small claims court.

Good luck.

NOTE: Ilyce R. Glink's latest ebooks are "Credit Scoring Secrets" and "How to Find a Great Real Estate Agent," which are available at her website, www.thinkglink.com.If you have questions, you can call her radio show toll-free (800-972-8255) any Sunday, from 11a-1p EST. You can also write to Real Estate Matters Syndicate, PO Box 366, Glencoe, IL 60022 or contact her through her website, www.thinkglink.com © 2007 by Ilyce R. Glink. Distributed by Tribune Media Services

Thinkglink Popular Stories...

Quit-Claim Deed Question
Quit Claim Deed Transfers Property Taxes
Deed in Lieu of Foreclosure Will Hurt Credit Rating
Inheritance Tax
Retaining Wall

Link to This Article

Like what you've read? Spread the word! You can link to this article from your website by copying the following code and adding it to a page on your website:

 

Ilyce
Ilyce

  • Recommended Stories..
  • Refinancing With Poor Credit Score
  • Building Out Your Closet on a Budget
  • Buying a House with Bad Credit
  • Buy Rental Property With Home Equity Loan
  • Bi-Monthly Mortgage Payments
  • Looking At A Seller’s Closing Costs
  • Retirement Accounts Questions
  • Capital Gains Tax Question
  • How Do Reverse Mortgages Work?
  • WGN-TV Show Notes -- February 28, 2001
  • 1031 Exchange to Avoid Capital Gains Taxes
  • Loan Qualification Question
  • Dealing with Synthetic Stucco Homes
  • Buying A Used Car
  • Tenants By The Entireties
  • 401(k) Open Enrollment
  • Creditors "Charged Off" Credit Account
  • How Do Reverse Mortgages Work?