NO NEED TO DISCLOSE DEFECTS IN NEARBY HOMES

DEAR BOB: For the last 22 years we have owned and enjoyed our home in a subdivision where all the homes were built by the same builder with the same materials. In the last few years, several homes have encountered basement wall leaks. However, our home has no such problem. We enjoy our basement family room, laundry room and storage area with no evidence of any water leaks. When we sell in the next few months so we can move to a retirement community, do we have to disclose to our buyer that a few other homes in our subdivision have encountered basement water leaks? --Steve Y.

DEAR STEVE: No. Home-sale disclosure laws only apply to the residence being sold at the time of the sale. They do not require disclosure that nearby homes down the street built by the same builder have encountered construction defect problems. For full details, please consult a local real estate attorney.

(For more information on Bob Bruss publications, visit his
Real Estate Center).

Copyright 2006 Inman News