On Apr 7, 9:44 am, bob haller <
hall...@aol.com> wrote:
>
> The problem with JUST writing the check:(
>
> Seller fails to disclose root problem in sewer, property sold new
> owner discovers flooded basement and learns seller knew of problem.
Your taking a worse case scenario that could not even
happen in many, probably most cases, creating a boogey
monster and applying it to all cases. In all
the houses I've owned for example, it's impossible for the
sewer to back up into the basement because there were
no drains, toilets, sinks, etc in the basement. So, if the
sewer got clogged, it's hard to imagine the house
getting overflowing with sewage. Sewers get clogged all
the time, few result in a big disaster or more than a
backed up toilet. Is it possible in some cases? Sure.
But let's worry about the basement flooding with sewage
only in the cases where it could happen, no?
>
> so new owner gets a bunch of quotes for everything, including a pricey
> restoration and demands boatloads of bucks from old owner who is
> forced to pay....
First there has to be a real restoration required. Second, if the
sewer
is clogged, then it has to be fixed and if the basement is flooded, it
has
to be cleaned right away. So, the buyer is going to need PROOF
of all that. Pictures of the sewage, insurance claims, bills,
cancelled checks for
the actual work, not just a bunch of quotes. If they don't have
pictures
of a basement flooded with crap, and they don't have bills and
cancelled checks for cleaning it up, well then they don't have much
of a case, do they? I'd tell them show me the proof, which any
person with a legitimate claim is going to be more than willing to
do. If they don't then I tell them to get lost.
>
> but rather than old owner getting people he knows to do the line
> replacement for $7000, his buddies a plumber, and one with a backhoe,
> with him the old owner doing the restoration.....
>
> the new owner goes top notch for 14 grand, which is still the lowest 3
> bids of the hghest cost bidders.....
Let's assume you're correct and the buyer gets the work done
for $14K. If you had done it before the sale, it could have been
done for $7K. Worst case, you pay them the $14K and it
cost you an extra $7K. But you're ignoring the part where there
could be three or ten other things that you would also have paid $7K
to
fix on the *possibility* that a buyer might some day come back
after you. That would have cost youu $21K or $70K or whatever.
But it didn't because those things never happened, or if they did,
the buyer just fixed them and paid for it themselves.
So, which way are you better off?
And also, in the above example, you could offer the buyer $7k
or $10K, on the premise that they are better off. The sewer line
was 40 years old, it would never have lasted forever and they
would have had to replace it maybe 5 or ten years from now.
They now have a whole new sewer good for 50 years. Isn't
that worth something to them? Wouldn't most buyers take
the $7K or $10K offer, instead of suing you and winding up
with less or worse case, nothing? Remember, they have to
prove you knew about whatever the problem was. In some
cases, sure, that's possible. But in many it's going to be
impossible.
>
> where the old owner would try and get it dones as affordably as
> possible, the new owner doesnt care and might enjoy sticking it to the
> old owner.
Sticking it to the new owner by going with the highest
quote for a new sewer? Paying for that out of their own pocket
on the *chance* they might someday get it back from you.
Not likely. And if they sue, it only gets worse, because then
they have to pay the lawyer over a $7K or $14K potential lawsuit.
> new owner discovered some really minor issues after moving
> in, and figures it evens the score.
In which case, since you live in fear of a lawsuit, all they have
to do is threaten to sue you over any of that other stuff, which
they could also do, no?
>
> most buyers and sellers dont like one another....
>
> its always better to disclose- Hide quoted text -
>
> - Show quoted text -
The point is, where does it end? I just don't buy the idea that
you either have to fix every last thing in a house you're selling so
it's like new, or else disclose it, out of a fear of being sued.