Disclose, disclose and disclose some more!

By
Real Estate Sales Representative with Re/Max Omega

I took a listing in Nov of 2006. The seller told me she never had water in her basement for 11 years. EXCEPT one time Mothers Day 2006. She indicated that she had "no moisture or leakage" in the basement area.I asked what happened on Mother's Day 2006? She said that water starting coming in and she had the condo association came to look at it. They took care of it right away and with in hours there was no evidence of water. Upon hearing this, I move to the basement with her to look at the "water" or not in that area. After thoroughly looking around and noticing NO evidence of any kind of water, I was content with the information that she had written on the "disclosure". During my listing period of two months, I never noticed any type of water in her basement, I showed it 12 times.

We closed in February of 07 and in April of 07 the new buyer had a FLOOD in his basement. He had over 12 inches of water. He lost his personal belongings and significant time and energy . He ultimately installed a permanent sump pump to insure that this would never happen again.

Since this time, we have learned from the neighbors and other reliable sources that the previous owner had 8-10 inches of water in her basement in 06'. She had multiple sump pumps pumping water out of her basement that Mother's day in 2006.

The buyer is seeking compensation for his damage. Should he be looking to the seller for not FULLY disclosing the intensity of the situation or to the agency for not over emphasizing and creating conversation about what I knew regarding water in the basement.( Note: the information that the seller gave was in writing in a seller disclosure, which the buyer signed.)

One more point  to mention: the buyer had a buyers agent, and a professional home inspection.

 

I am looking for views an opinions on this issue. Thank you

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Rainer
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Suzanne Damon

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