Posted by Crystal on November 13, 2004 at 21:07:22:
Our neighbor told us that the condo flooded. The flooding originated in her unit.
Michigan Real Estate Disclosure Laws - Posted by Crystal
Posted by Crystal on November 12, 2004 at 08:15:05:
I am wondering what an agent is legally obligated to disclose about property before it is sold. We recently found out that our condo sustained significant flood damage about one month prior to our purchasing it. Should we have been notified?
We are considering selling the condo soon. What other issues are we legally obligated to disclose to a potential buyer?
Crystal
Re: Michigan Real Estate Disclosure Laws - Posted by William Bronchick
Posted by William Bronchick on November 18, 2004 at 06:24:28:
Anything that is a “latent” (not obvious) defect should be disclosed. If
the damage has been fixed and there is no possibility of future
repercussions, then disclose it and get a piece of paper from an expert
that says there is no permanent damage.
Re: Michigan Real Estate Disclosure Laws - Posted by Natalie Smith
Posted by Natalie Smith on November 13, 2004 at 13:36:38:
I am a real estate broker, not an attorney. My opinion is that it depends on the source of the flood.
If it was a plumbing problem that was repaired, I would say it wouldn’t have to be disclosed.
If it was a roof leak that was repaired, I would say it wouldn’t have to be disclosed.
If it were a heavy rainstorm that caused flooding and the water ended up coming inside, I would say that would need to be disclosed since it’s likely to occur again.
Re: Michigan Real Estate Disclosure Laws - Posted by j
Posted by j on November 13, 2004 at 13:03:14:
Yes, if your agent knew. But if the seller did not disclose this then your agent was in ‘the dark’
How do you know the cause and extent of the damage?