Posted by Suzan on December 27, 2004 at 20:43:54:
I do not have that clause (NC). However, if repairs exceed 10K I can terminate contract and get my money back.
If I notify the seller in writing about the halfway house, does he then have to disclose to other potential buyers?
Is adjacent halfway house a material defect? - Posted by Suzan
Posted by Suzan on December 23, 2004 at 21:17:20:
We (buyers) have signed contract on house. Discovered that house next door is a half-way house.
Is this a material defect. It certainly affects the value?
Should it have been disclosed under the noise nuisance disclosure section? Apparently they play basketball and hang out until all hours of the night.
Re: Is adjacent halfway house a material defect? - Posted by Natalie Smith
Posted by Natalie Smith on December 27, 2004 at 15:24:37:
What state are you in? Maybe someone else from there knows the laws of your state. I am a broker in Virginia, and I’m told that I don’t have to disclose beyond the 4 corners of the property.
Re: Is adjacent halfway house a material defect? - Posted by eric
Posted by eric on December 27, 2004 at 10:28:09:
Yes, this is a material fact that absolutely should have been disclosed.
If you have not closed yet, depending on what the contract says, you can probably terminate the agreement. In CA, most CAR contracts give the buyer 3-5 days to terminate upon discovery of a material fact that was not disclosed. If you have not released your contingencies yet, you can just terminate and get your deposit back.
Re: Is adjacent halfway house a material defect? - Posted by chet
Posted by chet on December 23, 2004 at 21:49:25:
I would expect it to be disclosed.
I would check w/ the agent or the board of realtors.