Legal Question in Real Estate Law in Arizona
disclosure of water damage
i recently purchased a new home which was finished a out 2 weeks ago but i have not yet closed . about a week ago the house was broken into and every room in the has was flooded my question is if i decide not to take the house does the builder have to dislose the damage to any potential buyer? even if all repairs have been made .
and if i do buy the house and want to sell in the future do i have to diclose the damage aswell?
2 Answers from Attorneys
Re: disclosure of water damage
If you do not buy the house, why do you care? If you do buy the house, and then sell, you will have to fill out the standard disclosure form, and disclose the damage. We don't know the extent of the damage, so can't analyze this situation. Speak to a realtor acting on your behalf, or a real estate attorney.
Good luck.
Re: disclosure of water damage
First, if you don't close, the builder will either keep your earnest money deposit or sue you.
If you don't buy the house, the builder will have to disclose the water damage to potential buyers.
If you do buy the house, then you will have to disclose the damage to potential buyers when you sell the house.
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