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Real Estate
Reply to "Water in basement"
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[quote=Anonymous]The Q is, is it a known defect? If there were water there now, that would be a known defect. But it's not there now. So nope. If there were an existing condition like a leak or faulty drainage that would lead to water when it rains, that would be a known defect. But you said they fixed it long ago. So nope. Here's the tricky one: If there were mold from the long-ago water, never treated, that would be a defect. The Q is, is it known? If you know there's mold there, you need to disclose. If you don't know, well, are you going to find out or not? If you do a pre-sale inspection, you'll know and have to disclose. If a buyer does an inspection, finds it, and backs out, you'll know and have to disclose to future buyers. [/quote]
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