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Results 1 to 4 of 4
  1. #1
    Join Date
    Aug 2009
    Posts
    1

    Default I omitted something on my disclosure

    I need some help. I am in the process of selling my home and it's occurred to me that they buyer may not be aware of a 10K fee my township will charge me if I connect to the sewer system that was installed two years ago. I'm not required to connect, but if my septic ever fails, the fee must be paid in addition to any line costs, connections fees, etc. I had made mention of it to my realtor when the house was listed, but I don't believe it appears in the disclosure or the part of the contract regarding assessments.
    I sent an email to my realtor yesterday, I want to make sure the buyer is aware. What happens when a disclosure item is forgotten and then remembered? I want to act in good faith, now I'm scared I've opened myself up to liability.

  2. #2
    wolfneyetna is offline Fixer Upper
    Join Date
    Jun 2009
    Posts
    40

    Default

    I'm not an attorney, I'm a Realtor. So I'm giving you my personal opinion, and recommending that you contact an attorney for a more definitive answer.

    If your septic system is not working properly, you are most certainly required to disclose that fact; and the knowledge that the municipality requires connection to a sewer line.

    However, your message gives me the idea that your septic system is working fine. And it may continue to work fine for some number of years, particularly if it's well-maintained.

    If your 30-year-rated roof is 27 years old, you need not disclose that there may be a cost to the new owner within the next three years.

    So it seems to me that the issue here is not legal liability, it's ethics. If you were the buyer, you'd sure want to know about the sewer line hookup requirement. So, I would pass that information back to the buyer through your Realtor.

    Because of the potential for a liability action, though, I'd recommend buying an hour of a competent real estate attorney's time.
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  3. #3
    Greg is offline Moderator
    Join Date
    Sep 2007
    Location
    Outer Banks
    Posts
    1,281

    Default

    A quick consultation with a lawyer will get you the answer you are looking for OR if this is weighing on your conscience then make sure the buyer learns about the situation.

  4. #4
    tucsonhomes is offline Condominium
    Join Date
    Jun 2009
    Location
    Tucson, AZ
    Posts
    177

    Default

    Quote Originally Posted by Noviceneedshelp View Post
    I need some help. I am in the process of selling my home and it's occurred to me that they buyer may not be aware of a 10K fee my township will charge me if I connect to the sewer system that was installed two years ago. I'm not required to connect, but if my septic ever fails, the fee must be paid in addition to any line costs, connections fees, etc. I had made mention of it to my realtor when the house was listed, but I don't believe it appears in the disclosure or the part of the contract regarding assessments.
    I sent an email to my realtor yesterday, I want to make sure the buyer is aware. What happens when a disclosure item is forgotten and then remembered? I want to act in good faith, now I'm scared I've opened myself up to liability.
    All proper disclosures are made in writing and acknowledged (in this case) by the buyer. Write the disclosure, have it signed by the buyer as accepted, and move on with your life.

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