On Saturday, May 9, 2015 at 12:21:15 PM UTC-4, bob haller wrote:
> anyone can do anything. as my neighbor found out spending about 15% of the homes value to take care of the cots of a known issue.
>
You said they had to pay $10K, so doing the math, they sold
the house for $65K?
> now lets say OP fails to disclose it,
What specifically is the "it" they are failing to disclose? Just
the existence of orangeburg pipe?
> and later gets the line hrdro jetted, at which point the line totally collapses and must be replaced....
>
It could. And the buyer *could try* to come after you. As someone
else pointed out, it also depends on what the sales contract says
with regard to for example, selling it "as-is", with no warranties
expressed or implied, etc. At which
point you could tell them to get lost, or offer a couple thousand to
settle. From a practical standpoint, about all they could do is
threaten you or take you to small claims. It's not worth the cost
of a lawsuit on the chance you might prevail and recover the cost
of a new sewer line. Would you roll the dice, incur the legal fees?
You could wind up paying for the sewer line and an equal amount in
legal fees.
> the disclosure forms I signed had places like is their anything else that can effect the home??
>
Somehow I doubt that they have questions as open ended and non-specific
as that. And even if they do, is the typical home seller supposed to be
an expert and predictor to somehow indentify *anything* that might affect
the home in the future?
> there were news reports of a seller that failed to disclose a murder had been commited in the home......
>
> they got sued for big bucks
>
> remember getting sued will likely require hiring a lawyer, to protect you. they can be very costly
That goes both ways. It's actually more costly for the person
bringing the suit, because they have to go first, so they are going
to start running up legal fees before the defendant.
You can live in perpetual fear of being sued. You can disclose anything
and everything under the sun, that isn't specifically required.
For example, you can go take a look at the roof to try to figure out
how much life it has left and then "disclose" that you *think*
that itmay only have 10 years left. Wait..... Maybe you're wrong
and it only has 5 years left, better make it
5 or 3 to be safe. So, now the buyer wants $10K off the price for a new roof.
I say, the roof isn't leaking, it's functional, not my problem. You want
to try to sue me later, if the roof leaks someday, go ahead, see how far
you get. I'm willing to take my chances.