Real-Estate Disclosure: What You Don't Know Can Hurt You | AOL Real Estate

Real-Estate Disclosure: What You Don't Know Can Hurt You


real estate disclosure

When a bulldozer began to to clear away dirt for an in-ground pool in Brian Dyer's back yard, the Lakeland, Fla., homeowner got the surprise of his life: mountains of trash emerged from the hole. "It's just a sick feeling in the pit of your stomach to see what they're bringing up with each scoop," he told Tampa Bay's 10News.

Dyer said that contractors tried to dig into three different areas in the backyard and each time, came up with more trash. "We found several tires, what appears to be washing machine tubs, trash, debris, metal parts, we found a lawnmower in the deep hole over there," he said, pointing to an 11-foot-deep hole. "You name it, it seems to be coming up out of the hole."
Dyer has no idea how much more trash is under his property, how far it goes--or, even worse, if it's under his house.

"We're very fearful at this point," he told 10News.

It's anybody's guess as to whether anyone but the person who dumped the stuff illegally knew it was there. Builders dug down the required 12 inches for the foundation when the house was built in 2006. The debris was hidden three feet deep.

Nobody knows who's responsible for cleaning up the mess, either. While Dyer is trying to figure out his recourse, he's abandoned his plans for an in-ground pool and is opting for an above-ground instead.




Dyer's plight reminds us a little of the snake house in rural Idaho, also in the news this week. In that case, homeowners bought their dream house, only to discover it was infested with thousands of garter snakes. Former owner Ben Sessions recalls killing 42 of them in a single day and resorted to making "snake sweeps" before his wife and young sons got out of bed in the morning. After battling the reptiles unsuccessfully for months, the family finally fled. They later filed for bankruptcy, and the bank foreclosed on the property.

If "location, location, location" is the most important thing about real estate, "disclosure, disclosure, disclosure" runs a close second. Sellers are required to disclose "material facts" about their home that might influence your decision to buy -- the roof that leaks, problems with the septic system in heavy rains, the fact that the guy next door keeps bees who sometimes mistake your porch for his. (The only exception to this is if you're buying a bank-owned property; in foreclosure sales, the bank isn't required to tell you anything.)

Of course, disclosure couldn't help Dyer, since his wife bought the house when it was new construction, and the builder denied any knowledge of the trash dump. But Sessions learned his lesson the hard way. According to reports, when he bought the house, the snake infestation had been documented. But Sessions -- believing it was just a story concocted by the previous owner to walk away from the mortgage -- signed the disclosure document anyway. So when the story turned out to be true, he had no legal recourse.

All of which underscores the importance, as a buyer, of doing your due diligence and investigating every disclosure your seller is required to make. And as a seller, it's equally important to be up front about your home's flaws -- even the ones you have paid to correct.

Most states require disclosure of deaths, as well, and not just the ones from unnatural causes. If a natural death occurred in the house within the past three years, it needs to be disclosed -- right up there with whether unleaded paint is on the walls if the home was built before 1978.

And it goes without saying, best to disclose whether your house is built on a trash heap or is infested with garter snakes.

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robin

i agree with these people. not sure if the people knew about the trash or snakes but they orobably heard things and never said nothing. people will do anything to sell bad property. i know i bought one but my problem is not like thiers. mine is paranormal. and i bet the people who sold me the propoty knew!

3 hours ago Report abuse rate up rate down Reply
RockyMissouri

It's pointless to fight it! The house is in the snake habitat - no matter what they do, the snakes will ALWAYS come back..! Best to remove the house, salvage what you can, and give tours of an ideal snake utopia.! There are folks who are into herpetology who would thoroughly enjoy it.

18 hours ago Report abuse rate up rate down Reply
oneirishwitch

How about setting a couple of Mongeese loose in the home for a month or two? They will make short work of the snake problem, and will be a lot easier to trap and remove when the snakes are gone!
Of course you might want to get several, as judging by the sheer numbers of snakes, the Mongeese will think it's Thanksgiving every day!

22 hours ago Report abuse rate up rate down Reply
notre123

Yes, a Sellers Disclosure, which the State Of Florida requires from prospective Sellers, is the first source of home information. However, there are a number of exceptions: Bank owned properties, legal guardianship, the courts awarding properties, ETC are among these. Buyer Beware: Get all contracts subject to Approved Home Inspections, Certified Termite Inspections and Full Disclosure from all parties.

After 32 years of Real Estate Sales, "Trust But Verify." is the only way to go.

Cordially,

Phil Woolley CRS GRI CSP ABR SRES CDPE

Yesterday at 2:32 PM Report abuse rate up rate down Reply
1 reply to notre123's comment
genogeno1

After 47 years of dealing with real estate agents, these disclosure documents do absolutely nothing except absolve the bank, the realtor, and any other parties from a future lawsuit even if these individuals know there is some defect in the house. They also do very little in terms of actual disclosure because most people do not truly disclose the information asked for on these forms. So it all comes down to buyer beware, and assume the worst because no one is going to give you the truth. "Trust but Verify" is just some words that a politician said many years ago and means nothing in real estate disclosure. There is no way to verify the information is correct unless you have truth serum.

21 hours ago Report abuse rate up rate down Reply
ptcruz50

How would you like to find out from your father-in-law this about a business close by, that you don't have to worry about radiation anymore, the reactors been dismantled and moved, the rooms still hot and will be for about 30 years but they'll probably have that dismantled and removed too. Didn't come up in any of our discussions with the seller!!

Yesterday at 12:21 PM Report abuse rate up rate down Reply
pattihawk

Obviously a real "real-estate person" didn't write this article. Unleaded Paint???????

Yesterday at 11:13 AM Report abuse rate up rate down Reply
Mary

The article should say lead paint no unleaded, which is a gasoline.

Yesterday at 9:44 AM Report abuse rate up rate down Reply
Better than Homeless

They have some really nice above -ground pools that would make a nice alternative?
Just run some concrete pillars for support legs for a Gaunite platform.

Yesterday at 6:36 AM Report abuse rate up rate down Reply
William

At least it wasn't built on top of an old cemetary where they only removed the tombstones. ;^)

Yesterday at 5:46 AM Report abuse rate up rate down Reply
Dara

*under control!!! OOPS!

Yesterday at 5:41 AM Report abuse rate up rate down Reply

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