Posted by River City on November 23, 2005 at 16:32:01:
First, I am not an attorney, nor do I play one on TV.
I have read quite a few seller disclosure forms and none of the seller disclosure forms I read have any questions regarding sex offenders living in the area.
Sellers are not “required” to know about sex offenders living in their neighborhood. Anyone can look up a list of sex offenders on the Internet. This is publically available information. IMHO, since this is public information, a potential purchaser should do his/her homework prior to signing a contract.
Posted by MikeO_VA on November 23, 2005 at 10:27:31:
This Q is for education only and is not presently a “situation”.
Do sellers have a legal obligation to disclose the fact (IF in fact)that a registered sex offender is living in the neighborhood?
Can a buyer ethicaly and legaly back out of a contract if this is discovered after entering into one?
Re: legal obligation to disclose - Posted by John Merchant
Posted by John Merchant on November 28, 2005 at 12:51:55:
You’ve asked two questions.
First, must a seller disclose the sex offender, and answer depends on your state’s laws.
If you’re selling via a RE agent, that agent will know and advise you on law in your state.
If you’re selling as FSBO you’ll need to either have a lawyer advise you or find and read the law yourself.
Second question is buyer’s right to back out if he discovers some situation he doesn’t like but isn’t covered in the written agreement.
Again this depends on state law and whether S had duty to disclose…if not, then probably no real right to back out.
BUT, since B is rarely sued and forced to perform his purchase agreement, it’s not really something the B need worry about.
The S almost never sues the defaulting B to make the B perform, as it’s just not economical wise move.
Considering attorneys’ fees and court costs, the S is normally much wiser to forget the back-out-buyer and move on to a better,new buyer who will perform.