Buyer is backing out due to disclosure discrepancy

**cal300d** · 06-23-2007, 07:00 AM

Need advice with a confusing mess. My grandmother (seller) is a week from settling on her house. The buyer is trying to back out of the contract sighting the seller did not fully disclose water has been in the basement.

[FONT=Times New Roman][SIZE=3]Technically the seller did not state on the disclosure form that there had been water in the basement. She had been telling people when they toured the house there was an isolated incident of water in the basement due to the sump pump not being plugged in. The buyer

**aprazma** · 06-23-2007, 10:53 PM

Regarding disclosures, there is not really such thing as an as-in sale, even if no inspection is performed. There is no way that a buyer can waive the right to have a seller disclose known defects. Every property issue known to either the seller or the seller's agent has to be disclosed in writing.

I don't know of any state where oral disclosures can be substituted for written disclosures. If you really want to pursue this, I suppose you could have a contracts lawyer review the situation.

**La Jolla Real Estate** · 06-25-2007, 07:39 AM

Both the broker (when known to them) and the seller should have disclosed any known defect, or anything that affects the condition of the property, in writing.

The buyer certainly has the right to have the property inspected regardless of whether or not the property is being sold "as is".

Note to anyone who is wants to sell "as is": There is no such thing.

LJRE

**KaterinaGasset** · 06-25-2007, 08:18 AM

In Florida there is really no such thing as 'as is' in theory.
I do not know of any state where there is a 'buyer beware' clause anywhere.
The seller and the broker and the agent must fully disclose in writing any defects.
The water in the basement is a defect that must be disclosed.
I don't know of any seller who wants to go to court over something like this.
Let the buyer walk away as he has not been damaged much at this point.
If he moves in and the water becomes a problem; you will have a much bigger problem.
I won a case all on my own with out an attorney against a seller who did not disclose a water leakage problem and I settled out of court for a sizable amount plus a reduction of the seller's note.
This is not legal advice. I am not an attorney.
But I will tell you it is better to let the buyer go on their way.
And then market the property with a signed sellers disclosure statement.