AHH, Confusious say, buyer beware

Don't know yet if I am proceding with the purchase of this condo.  Turns out when I called my insurance agent to set up the paperwork for homeowners insurance, the sellers DID NOT disclose the fact that they had an $18,000.00 water damage claim.   I am waiting to find out if they will pay for a mold and toxin specialist to inspect and certify the property.

Did you have a home inspection?  Buyer beware. Also the seller's ins. co. may have pictures of the damage. Mold is very expensive to treat.and can affect your health. You are doing the wise thing. There are lots of condos for sale. Buying a place is an emotional investment I know. I had a friend of mine who had a home inspection and the inspector found a bump in the dining room the foundation buckeled  and found an underground stream that had some kind of chemical causing all of the townhouses to have that problem. Luckily she caught it before she had an expensive thing to take care of. Because when the time came for her to move if she wanted to it would have affected her trying to resell it.

I have not had it inspected yet, and a routine inspection does not cover this.  Irregardless of whether or not there is mold or toxic anything, this was UNDISCLOSED MAJOR DAMAGE.  They were fully aware when they accepted the $18,000 check from their insurance company that they indeed had damage, the fact that there is not a word shown about this on the sellers disclosure is considered fraud.  According the mold and toxin specialist, a routine home inspector is not licensed to go into that type of depth of inspection, nor do they have the credentials to varify or the equipment to satisfy the need for information.  I'm sure their insurance company could tell me alot, but the seller said not a word.

I totally agree with you thanks for correcting me. I am guessing you might be able to ask the ins. co. for info but unfortunately there are alot of dishonest people in the world. You are right about the "disclosed" part. Good thinking on your part.

Oh no Nan! Better to find out now though. Our home inspector was great - he saw a few spots of "old mold" and reccomended we get a mold inspection - we did and it was nothing thank god!

BEst of luck - remember, although we might not like it, everytthing happens for a reason! Best of luck!

Liz

Nan, I hope everything works out for you - nothing like being excited over this and then have something like this come up, but better safe than sorry and that you know about it ahead of time. I noticed there are quite a few condos for sale at VF Towers, so if this one doesn't work out maybe another will - I'm sure there are many motivated sellers in those buildings.

Wish you all the best with this - keep us posted.

Apparently this is something that happens quite a bit in these units.  I don't want to live in fear each day that a neighbors plumbing may go.

Oh, I didn't realize it was more than one - I thought this was an isolated case. Well, be very careful then - its a lovely place but I'm sure you can find something else just as nice, if not nicer. Remember, everything happens for a reason (even tho we hate hearing that all the time!!). Stay positive - things will work out.