fault. The court awarded my new neighbor with $25,000 in damages to have the basement foundation completely dug up and waterproofed.
Had this problem been disclosed at the beginning, my old neighbor would not be liable, paying out $25,000, a and tarnishing his reputation!
This is now a story I share with all my listing clients.
Educate yourself about the specific disclosures your state requires. To get an idea of what you might be up against, let’s look at the regulations in California, one of the most stringent disclosure reporting states in the nation.
COMMON DISCLOSURE REQUIREMENTS: OSURE REQUIREMENTS:
• Any significant defects regarding walls, ceilings, floors, roofs, windows, doors, foundation, fences, driveways, plumbing, and electrical systems. • Lack of compliance with child safety standards. • Additions or modifications to any rooms in the house. • Use of hazardous substances on property. • Zoning violations. • Regular neighborhood noise disturbances. • Any features on property shared with neighbors. • Damage to property from fire, earthquake, floods, or landslides. • Deaths on property (within three years). • The location of any publicly registered sex offenders, or at least ensuring the buyers have knowledge of the sex 121
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