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Depending on the jurisdiction, anything discovered in a detailed inspection of this sort will have to be disclosed to any future buyers. So, in that case, it w
by bradknowles 8y ago
Depending on the jurisdiction, anything discovered in a detailed inspection of this sort will have to be disclosed to any future buyers.
So, in that case, it would be to the best interest of the seller to reduce their asking price and/or fix the major problems that were found, so that they no longer have to carry this legal burden going forward.
Yes, this happened to me and my wife (she's the lawyer in the family), and this resulted in us getting over $12,000 cut off the purchase price of our house, in addition to getting a number of major problems fixed before the deal actually went through.
IANAL myself, and I can't make any claims that anyone else will necessarily benefit in the same way, but that detailed inspection of the house-to-be-bought can be worth 10x the cost you pay for it -- or more.