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View Full Version : Updating the disclosure after contract is executed


gahouse
Jun 10, 2012, 05:58 PM
I am the seller. After the buyer home inspection and Disclosure being agreed too, I had to update the disclosure because I found a leak in the basement. Buyer is refusing to sign. What are my options?

Fr_Chuck
Jun 10, 2012, 06:09 PM
So after the contract, after they did the home inspection and after you did the disclosure, you found a new problem, and informed them.

So since going though with the contract is most likely subject to a home inspection, and disclosure, you may have just ruined the deal, The buyer may back out, or ask for a discount to compensate for any repair cost.

You did a very MORAL thing, but I am not sure you were legally obligated to inform them of a new problem found after the disclosure and inspection. But you have, and now this gives them a reason to back out.