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Thats just nonsense. There absolutely is a requirement to disclose known faults with the property, and if a survey (which every buyer does) shows up something s
by bb123 5y ago
Thats just nonsense. There absolutely is a requirement to disclose known faults with the property, and if a survey (which every buyer does) shows up something serious, there is a legal requirement to disclose it to all parties. Also most banks will cover the cost of a survey.
- sokoloff 5y agoThe buyer is the only one bringing money into the transaction. Regardless of who signs the check, the buyer is paying for all of the things.
- bb123 5y agoThats true, but you really can't have it both ways. You either want a professional opinion on the quality of the house or you're willing to run the risk. Anyway, the banks aren't doing inspections for the benefit of the buyer. They want to know that should the house be repossessed they are likely to recoup their investment. The fact the buyer might find something out about the house is a happy side effect.
- mountainb 5y agoInspections are pretty cheap at least in the US. Inconsequential compared to the price of the house or any other expense related to buying, really.
- bb123 5y agoCorrect - the homebuyers report on my house cost £300.