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Answers (8)
- Michael Emery, "MikeEmery"
- Contributions:7298
Seek professional legal advice fast!
This question is from March.
This question is from March.
- Jim Forbus, "Jim Forbus"
- Contributions:17
Seek professional legal advice fast! Judy Otto in Reno is one qualified Real Estate Attorney, 775-827-6886
Great example! Buyers, ensure you are working with a qualified Realtor with the experience to look after your best interest! Even though a buyer may waive their NRS 113 rights, inspections should have caught the mold problem. The buyer does not have to move forward with the purchase when the property is disqualified. I recently recovered the earnest money for a buyer when we discovered dry rot in the crawl space.
www.RenoSparksMLS.Listingbook.com,
Great example! Buyers, ensure you are working with a qualified Realtor with the experience to look after your best interest! Even though a buyer may waive their NRS 113 rights, inspections should have caught the mold problem. The buyer does not have to move forward with the purchase when the property is disqualified. I recently recovered the earnest money for a buyer when we discovered dry rot in the crawl space.
www.RenoSparksMLS.Listingbook.com,
- Michelle Carr-Crowe, "lynbrookhomes1"
- Contributions:533
All of these answers are helpful; HOWEVER, did you have any inspections done? If so, how did the mold get missed...or is it a new problem? Did you have a mold inspection done? My home inspector does test for mold (at extra fee of course) and actually provides a home warranty that starts from the date of their inspection, so if something new comes up after their inspection it's covered.
Based on my experience with lenders, I expect they gave you a statement of non-responsibility and written notice that buyer must do all inspections and would only agree sell to you if you committed to hold harmless the lender.
Based on my experience with lenders, I expect they gave you a statement of non-responsibility and written notice that buyer must do all inspections and would only agree sell to you if you committed to hold harmless the lender.
- Yousef Abughazaleh, "Mr.shortsales"
- Contributions:242
If you signed NRS 113 form, it release's them from liability.
- Lane Midgett, "Lmidgett"
- Contributions:274
First things First.
The first the three answers covered it. I'll add mold is especially fond of moisture, so while mold is the problem now...you need to focus on the moisture and then kill the mold to protect you family. After that, then seek legal counsel to help recoup any losses IF you can.
The first the three answers covered it. I'll add mold is especially fond of moisture, so while mold is the problem now...you need to focus on the moisture and then kill the mold to protect you family. After that, then seek legal counsel to help recoup any losses IF you can.
- Kristopher Kent, "RenownRealtor"
- Contributions:38
Great question! Often people, including agents, are focused on the fact that the Bank has no knowledge of the property condition, while a buyer may sign a notarized waiver of SRPD, the Banks agent is still obligated to tell the buyer/buyers agent of their knowledge, if any, in a material defect, except as statutorily exempt, such as with a death in a house, which does not have to be disclosed unless the house was the cause of the death. Unfortunately, the agent most likely did not know about this or didn't know what it was and therefore didn't disclose it. You should seek the advice of an attorney as this is outside the scope of a Nevada Real Estate Licensee.
- Ricky Beach, "rickybeach"
- Contributions:46
Did you sign the NRS 113 waiver before purchasing? The waiver says that the bank doesn't have any prior knowledge of the property and does not have to provide a seller real property disclosure. This would be a good question for an attorney as this is outside of the scope of the real estate license.
- Cindy LaPeer ABR, e-PRO,SFR, Cdrs, "Houston Metro Pro"
- Contributions:2239
You would have to prove that they knew about it. Most, if not all, foreclosures are as-is sales and that's why the price is so low. Talk to a RE attorney for more detailed answers to your specific situation.
Mold in New house
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