Tuesday, September 27, 2005

Disclosure, Disclosure, Disclosure...............

Case in Point: Two Inspections.......... Two different out comes..... Should the Seller & the Sellers Listing Agent Disclose the presence of both inspections? ABSOLUTELY...........
If a Buyer had the opportunity to speak with the first inspector, or hear his report of the inspection, it may well have influenced the Buyer's decision to buy the home. For those reasons, the Courts held that a reasonable person, in determining whether to purchase the home, may well have attached importance to the more extensive description of the damage and the much higher repair estimate contained in the report and, therefore, the agent & Seller was required to disclose the information.
ARIZONA: A real Estate Agent MUST disclose all adverse material facts that they know. If two inspections are conducted, and they contradict or are inconsistent and an agent is aware of both of them, an agent should disclose both reports or risk being held liable for failing to disclose.

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