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Do I have to disclose a past problem with my house if its been repaired

Your real estate agent will be able to advise you on what regulations must be followed in your state, so it's best to disclose a previous repair to them at your first meeting about the sale. And.. Answered 1 year ago · Author has 59 answers and 18K answer views It depends on what the problem was and how it was repaired. In California every significant repair made since purchasing a property needs to be disclosed. You are not obligated to list issues from previous owners

The Nevada state laws will require you to disclose any previous repair s that have the potential of reoccurring. You should also disclose any repair work that may require continuous maintenance and any defects that could have affected the overall value of the home significantly It can be good idea to have your home inspected prior to putting it on the market and then to make needed repairs (and include in your disclosures the items you won't repair). This helps avoid surprises and thus negotiation problems once a buyer makes an offer on your house It applies to almost everything in the house (or condo) that you have already fixed. I get this question a lot regarding lead paint. You had a problem and it is now fixed. Technically, since there.. What that means is you have to disclose any CURRENT defects - if the defect has been remedied, then its past history does not have to be disclosed. Of course, if your shifted foundation condition were not properly remedied, then yes - you would have to disclose it to any future buyer

Does Home Disclosure Have to Include Previous Repairs

Do I have to disclose a past problem with my house if it

If you're trying to sell your home, it's important to disclose any potentially problematic concerns. Buyers should be made aware of a home's repair history not only so they know what's been done, but also to be on the lookout for future issues Unfortunately, there is no limit on how long you have to declare subsidence. If your property has been affected by subsidence at any point in the past, particularly if an insurance claim on that basis has been made about it, then you do have to declare it to the estate agent and the buyer

What Must You Disclose When Selling a House in Las Vegas

Many states do not require sellers to tell prospective home buyers whether a property has been damaged by a flood. In 21 states, there are no statutory or regulatory requirements for a seller to disclose a property's flood risks or past flood damages to a potential buyer. One may also ask, how do you find out if a house has ever been flooded In NC our Sellers Disclosure requires the seller to disclose items they are aware of that have or had problems that have been repaired. If the listing agent is aware of these things they must disclose as well. As a buyer if I knew the sellers were aware of previous water damage and mold issues and didn't disclose this up front I would walk Here's the bottom line: just because the seller signs a disclosure form doesn't mean that it's accurate. And, unless you have a high-cost claim and real proof that the seller knew about the problem, you might not be able to do much about it. Lastly, many seller disclosure laws allow buyers to recover attorneys fees if they sue the seller

This is incorrect; if the question specifically asks about previous issues you must disclose even if the past issue was completely repaired and currently functioning. This is true regardless of how long ago the previous issue occurred, and even if the seller did not own the property at the time the previous issue existed. 2 If the foundation has been repaired and there is a warranty, it shouldn't be a problem for most buyers. It's a problem if it has not been repaired. There are some areas in Houston that almost every home either has had foundation work at some point, or else needs foundation work. about 8 years ag If you have already treated a termite infestation in your house, completely repaired any extensive damage, and get a regular termite inspection, past termite problems should not really affect your ability to sell your house

State disclosure laws. Other than lead-based paint, the majority of disclosures are regulated at a state level. For the most part, the consensus is that the sellers must disclose any known. If your home has termite damage, you could have a big problem on your hands. Not only is it challenging to sell a house with a termite problem, but it could also be unsafe to live in. To get rid of termites and fix the damage caused can turn into a costly construction job, especially if having to replace support beams, walls, wood floors, and. Federal disclosure rules. The majority of disclosure issues are handled by state regulations, but federal laws apply to one area: lead paint.If your home was built prior to 1978, it may contain. Do I Need an Attorney for Selling a Home? As a seller, a skilled and knowledgeable real estate attorney can help you avoid legal liability prior to the sale of your property. Alternatively, as a buyer, an experienced attorney may assist you in a claim if you have suffered losses due to a non-disclosed defect In Texas, whether or not you know of Previous Fires in the home is one of the questions listed in the Seller's Disclosure. You must disclose past fires in the house if you know they've occurred, whether or not the fire was the result of anything mechanical in the home, and even if the damage has since been repaired

If a seller violates disclosure laws prior to closing, the buyer is able to cancel the transaction. If the closing has taken place and the buyer finds out a seller did not disclose a known problem. RALEIGH (WTVD) -- As a general rule, whatever you disclose about your house has to be correct. Also, if a seller or broker is specifically asked about something, they can't give a false answer If excess mold growth does occur the best option is to have a licensed company perform the mold cleanup and follow-up testing to ensure it has been cleaned up. Failing to disclose past or present mold issues can subject a home seller to legal liability in the future from any buyer who buys the home without knowing about the mold. Additional. Disclosure in Real Estate: What to Disclose When Selling a Home Did you know that real estate disclosure laws vary from state to state? What a seller has to disclose in one state might be completely different than in another. One of the first discussions with an agent should be about real estate disclosure when selling a home. If you are like most home sellers, you know of one or more present.

3 of 5 4 of 5 Buy Photo A house in Stamford, is pictured with its for sale sign in the front yard in this 2013 photo. Home prices in the Bridgeport-Stamford region declined in the past year, one. If the seller did not disclose a defect about the home you purchased, give us a call. Our real estate litigation attorneys may be able to recover your economic losses. Schedule your free initial consultation about the failure to disclose online or call (303) 688-0944. *Past results do not guarantee future performance In most U.S. states, the standard disclosure forms that home sellers fill out do not, in fact, ask about past burglaries. As Michael Crowley, real estate broker with Spokane Home Buyers explains, An ordinary burglary wouldn't be considered a material defect to the property, so I wouldn't expect a seller to disclose it

Disclosing Hidden House Defects to Homebuyers Lawyers

As a seller, do I need to inform buyer of repaired water

If the foundation has been repaired and there is a warranty, it shouldn't be a problem for most buyers. It's a problem if it has not been repaired. There are some areas in Houston that almost every home either has had foundation work at some point, or else needs foundation work The court held that a seller's disclosure was merely the tip of the iceberg and found the sellers liable for fraud in the inducement. Buyer's Due Diligence Prior to the Sale. The best way for a buyer to avoid problems after the sale is to do sufficient due diligence before the sale A thorough disclosure can also save you from legal hassles down the road. If you disclose a known defect, the purchaser will have a tough time turning around months after the transaction has closed and suing you for fraud, misrepresentation, or breach of contract. After all, the form gave the buyer full notice of the defect To help with your sales pitch, consider the following advice: Be honest. A potential buyer can verify if you're being up front or trying to hide flaws though a car history report or by having it inspected by a certified car mechanic. You don't have to disclose every flaw. It's not your responsibility, but if the buyer asks, tell the truth In Massachusetts, sellers of property have certain duties. One such duty is to disclose certain defects of the property. If the seller fails to disclose such defects, the buyer may have remedies available to him or her. In some cases, buyers purchase a home that they believe is in good condition. However, they may discover weeks, months or even.

Undisclosed Foundation Damage and Previous Repairs? Angi

  1. If you have made any major repairs to your roof, repaired a plumbing leak, had a mold problem, you must disclose all past problems with your home even if they have been repaired. Not disclosing can be construed as fraud. Other disclosure forms that are used in a real estate transaction consist of the following: Mold Disclosur
  2. I Bought a House With Problems Not Disclosed, Now What? My husband is 73 and I am 68 and we don't have the kind of money to fix this up. If this is true that the real estate agents committed fraud, do we have any recourse? We live in Alabama and would really like to sue for undisclosed damages
  3. Now, if the seller knew the house had an ongoing termite problem (even if the termites only showed up once a year, but had done so for 10 years in a row) and didn't disclose the issue, then the.
  4. e what obligation the seller has in disclosing the problem. Your inspector
  5. Found out today that the house we're buying had a fire 5 yrs ago that resulted in £150-200K of renovations. Owners didn't disclose any of this as their solicitor told them it was just over 5.
  6. I am a Realtor in Oklahoma. The most frequent reason for lawsuits in real estate transactions is the seller's failure to disclose defects. The first thing that you should do is read your real estate contract. The Oklahoma Real Estate Commission (O..

Bottom line, in Florida, sellers of residential real estate have a duty to disclose most material information about the condition of the property (past and present) as well as repairs that have been done and repairs that need to be done (including things like termite damage, mold, Chinese drywall, leaky roofs, plumbing and electrical issues. 6. If you have an issue with the house when it's on the market - let's say your dishwasher breaks, then you need to update your disclosure form. 7. If your home has been on the market for over a year, review the disclosure form and initial and date so prospective Buyers know the disclosure is current. 8 If your septic system needs repair, even if you have a waiver allowing you to use it, you have to let the buyer know. The waiver will not apply to them and they will have to have the system repaired. If the home is near a military base, you have to disclose whether it's in a noise or accident potential zone

Video: The Seller of My Home Failed to Disclose Water Damage

If there is a problem disclose it. If there is ot a problem, then that particular element is fine. 3. Explain In Detail. If something does need explained, give plenty of detail. The burden is on you as the seller to properly inform buyers. 4. Past Issues That Have Been Repaired. No, you do not need to disclose issues which have been repaired. Buyers will want to know of any past problems and how they've been fixed. They'll want to know if an issue's been fixed, if it requires ongoing maintenance or if it has the potential to cause problems in the future. Knowing that something's been repaired can also bring peace of mind and even be a selling point

6 Things to Do If You Bought a House with Problems Not

  1. It's not a big issue to most buyers, and they will not mandate that it be repaired. The report may mention appliances or operating components in the house that may need replacing
  2. If the sellers haven't been living in the house long, or are just unobservant, they may not have noticed a defect. The sellers cannot disclose the defect to the buyer and the buyer has no protection. To avoid being stuck with a new home that needs a raft of expensive repairs, it's a good idea for a buyer to insist that the contract be.
  3. Problems With House After Purchase: Undisclosed Defects. Common home defects that sellers fail to disclose include: Bad sewer lines or rusted pipes. Hidden water damage. Rotted wood or termites (learn more about termite letters) Huge cracks in driveways or house foundation. Bad or old ventilation or windows. Septic system or heater issues
  4. The agents said that if water has been in your basement and you envision listing the house for sale, it's probably best to bite the financial bullet and professionally tackle whatever remediation.

6 Things Home Sellers Are Legally Required To Disclos

There are two ways of selling a home with termite history. The first, and easiest way is to sell it in its current condition. Let the buyer deal with the issue. The second way to sell your home is to repair any damage and remediate the problem for the future. Then you can put your home on the market and attempt to sell it to the general public (g) Do you know of any past or present leaks, backups, or other similar problems relating to any of the plumbing, water and/or sewage-related items? (h) Is there any polybutylene plumbing, other than primary service line, on Property Selling A House With Subsidence History - But Repaired. If your property has been impacted by subsidence in the past, you have to declare it, and unfortunately there is no limit on how long since the subsidence you have to declare it from, meaning you have to mention it if it has been an issue at any point in the properties history

My wife and I are about a year away from selling our house and have just recently discovered termites. We've had it thoroughly treated, by a company that offers a yearly warranty stating they. The seller may have to complete repairs prior to closing, or you may be able to do them afterward with an escrow holdback. Verify your new rate (Jul 28th, 2021) Table of contents (Skip to section Some examples of what needs to be disclosed: If the property is on a flight path or in view of a motorway, or there are plans for this to occur. If a violent death took place in the property. If there are high levels of crime in the area. If there are pests or Japanese knotweed problems either currently or in the past I agree with my colleagues. I have been a Realtor and broker for over 10 years, and have some experience with transactions such as these. That said, you will not likely have any post sale remedy (ability to sue for damages), because you are already admitting that you know of the problem. You need to rectify this prior to completing the sale

Any home that was built prior to 1978 needs to come with a disclosure about lead paint allowing buyers to know about whether or not it has it on the property. Even if a home was built after 1978, most sellers offer information about paint content thanks to the help of the state of Colorado. The statewide Colorado Contract to Buy and Sell has a. 1. Lead paint. One item is a must when it comes to being upfront with potential buyers: the use of lead-based paint in your home. If the home was built before 1978, each party in a transaction needs to sign a lead paint disclosure, says Pawlitzki. This is a federal law and applies to every state (b) Have any repairs been made to control any water or dampness problems in the basement, crawl space, or other parts of the main dwelling at or below grade? (c) Is the Property or any improvements thereon located in a flood zone My advice to a home buyer is to always ask if the home had drywall problems if built after August '04, which the seller or their agent is required to disclose, Wilkinson said No disclosure was made by the seller to the RE/MAX agent or the buyer that there had been problems with the roof and only after moving in did he find out that he had a serious problem with his roof. This house in Durban needs to have the roof completely removed and new trusses, underlay and battens, etc. installed as well as re-installing roof.

Sinkhole Frequently Asked Questions If there is a risk of physical harm, please call your local law enforcement agency.Many common questions involving sinkholes are answered by the FAQs below. Should you have additional questions, you may call the FGS Sinkhole Helpline at 850 245-2118. NOTE:, this is a helpline provided to:Clarify the information presented in the FAQ Failing to disclose a significant and material defect or condition will always be a claim in a buyer's complaint against a seller. In order to protect my clients against a potential lawsuit, I need them to give careful attention to any and all questions regarding their home's past and present condition, including its maintenance history More than one-third of states have no statutory or regulatory requirement that a seller must disclose a property's flood risks or past flood damages to a potential buyer. The other states have.

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Housing Counsel: Mold Was Remediated, Do I Still Disclose

At best, it's frustrating to find a defect in a house after you've bought it. At worst, it's expensive. When you experience your first rain after closing on your house and the roof leaks, it's. What Buyers Should and Should Not Request to Be Fixed When you find a home you want, it is important to pick your battles when it comes to repairs requested from a home inspection. While it would certainly be nice for the seller to fix every little home inspection issue before you put your money down, there are only so many repairs most sellers are willing to commit to - especially in a.

If The Sellers Have Fixed The Problem, Do They Have To

The remedy will depend on the type of subsidence you have. If the subsidence is historic, it may be that the problem was already remedied by a previous owner. If a nearby tree is a problem, it can be removed and the subsidence can then be monitored. Leaky pipes can be fixed and drainage improved. In the most serious cases, a property can be. However, I do have some training in aircraft maintenance and repair - and in aircraft, if there is a significant dent, crack, or hole in the airplane's aluminum skin, there was often a procedure used to repair it that involved cutting a hole around the crack or dent, and then welding or riveting a patch over the hole and extending a certain.

But it doesn't belong in your house. If your house does have a mold problem, selling it can be a real challenge. Mold and real estate transactions don't mix well. But there are still a few ways to sell your mold-infested home. This guide will help you understand what options you have. 3 Scenarios of how Your House with Mold Can Be Sol It's also important to invest in annual termite control once the problem has been contained. It's good to have a record of t reatment plans when you sell your home. Verify with the pest control company that you can transfer the warranty and treatment plan to the new buyer. The next step is to call in a licensed contractor to inspect for. The rules for buying and selling a car vary from state to state. In most cases, when you sell a car, you do not have to disclose minor damage that has been repaired. However, if the car sustained major damage, or was declared a total loss by the insurance company, you may need to tell the dealer that your car was in. If you have any questions prior to the sale of your home regarding disclosure obligations or selling your house as-is, or you have been served with a demand letter or lawsuit relating to the. In most arms-length transactions, you must disclose any information you have about the property that could significantly affect the buyer's use of the property, unless the buyer waives this disclosure in writing. Your disclosure must be in writing and can be provided to the buyer or the buyer's real estate agent

What Do You Have to Disclose When Selling a House? Ownerl

If the OP's state has similar wording, they may only have to prove that the damage/problem existed prior to the sale, and that the seller/agent lived in the house. If the disclosure form says has there every been a water leak and the seller has owned and lived in the house for 15 years and there were repairs done for water leaks in the last. A foundation problem is one of the most intimidating things you can encounter when buying a house. If you agree to buy a home after foundation issues have already been detected and documented, you are assuming the responsibility (and cost) of addressing those issues. You cannot later try to hold the previous owner accountable A Seller's Property Disclosure Statement can intimidating for some home sellers, but it shouldn't be. Take a deep breath and realize how easy it is to just state the facts and nothing but the facts on this and other sellers disclosure forms. You'll see that completing the Seller's Property Disclosure is just another step in the process of selling your home In fact, buying a home with a repaired sinkhole may turn out to be in your favor. These homes can be more affordable than homes with no known sinkhole activity. Homes with sinkholes that aren't repaired should be avoided. These homes are usually priced very low, and an unaddressed sinkhole can be very dangerous From undisclosed water damage or a mouse infestation to disputes with neighbours, if a seller has not disclosed an issue with a property the buyer may be able to sue or rescind the contract

The repaired house was sold with owner financing: $5,000 down, $550 per month, for $49,900 (fair market value). I earned a commission on that transaction of $1,500. On a foundation problem. Your solicitor will be able to help you work out if there is anything you legally need to disclose to your buyer. In addition, to give buyers some protection, the usual conveyancing process requires the seller to fill in what is called the Property Information Form (or TA6 to give it its technical name) which gives your buyer a whole load of. Generally, when you purchase a home, you are on the hook for all future repairs. However, exceptions do apply. Do determine the liability, if any at all, of the seller for plumbing problem, for example, courts will look to the purchase agreement for the home, the nature of the problem, whether you had a home inspection, and any specific misrepresentations by the seller Selling a house with previous subsidence claim - help please. Our house (built in 1912) had a subsidence claim on the insurance 25 years ago. Cracking to front elevation due to a tree. Tree was removed, brickwork repaired and certificate of structural adequacy issued. When we purchased 12 years ago our survey showed no further movement.

They are even required to disclose repairs made before their ownership if they knew about them. One of the questions even asks about any painting that has been done in the past year. In this case where they apparently didn't do any repairs, they wouldn't have had to disclose anything, except if they knew about a material defect in the window Same deal when it comes to when you're trading a vehicle in, to order parts you have to quote the vehicle's VIN number, its at that point that the dealer/manufacturer builds a file on that vehicle, it's service history, whether it's been in an accident, the parts that were required and who repaired that vehicle, and then when the time comes to. A house that has been empty for two years with a compromised roof may not be salvageable without spending more time and money than it's worth. Hoarding situations can cause major structural damage to a home even without trees falling on them because plumbing or HVAC issues can get neglected, and the weight of all that stuff can damage things. 3. Pest problems. Rats. Bed bugs. Cockroaches. If your home is plagued with pests, most states require you to disclose the issue to the buyers. Even if you have things under control with an. 3 Things You Can do to Increase Your Home's Resale Value: 1.Have Your Home Inspected by a Trained Pest Control Inspector. It is best to have a professional termite inspection done prior to putting your home on the market as this latest clean inspection will assure your buyers that there are no termites still present in your home. 2

It's going to be north of $10,000, and probably closer to $20,000. You call your bank, and it's not in the budget. They suggest you go after the previous owner. Your next call is to your lawyer. Sewer Line Repair Options. This worst-case scenario is preventable. It's hard to say how a court would view repair cost responsibility Before closing, Clark and a client of his discovered there was a history of sewer problems at one particular home, which the seller didn't disclose. The seller was confronted about it, and he. A problem that is all too common, once it has been spotted it's important that it's dealt with as quickly as possible. There are ways to tackle it, but these options become limited as the problem develops over time. Needless to say, if you do spot the signs of subsidence, you should act as quickly as possible to have the problem addressed Buying a home that has identifiable mold issues can become a problem down the line. If you're considering buying such a home, there are a few things you should do, including adding contingencies to any contract you place on the home. An inspection can help identify every mold source

A leaky roof might have been repaired, for example—but what was done about the water that ended up in the attic? Ask if the seller has had to fix any problems with the house, and how well the. If your neighbours have an ASBO, Where your property is on a flight path, If there has been a violent death, If crime levels are high, this should also be noted. If you're in doubt about what you have to disclose when selling a house, ask your estate agent or the conveyancer you plan to use. They can guide you as to which details you do have. NY does not have a disclosure law. The NY Supreme Court eventually ruled in favor of the buyer because the owner had publicized that the house was haunted. The court stated that for court purposes the house was deemed legally haunted, and that fact should have been disclosed to the buyer. The sale was revoked The problem is getting approved for a loan, I have a co-signer but all the places i have tried so far (online) have rejected the request because i am unemployed and have no credit history (turned.

Although you managed to get this sorted and have not had any similar problems in the decade since, you are still paying a large amount of money on your buildings and contents insurance every month. • The broker must not misrepresent or omi t (or fail to disclose) any material facts about the property • A broker must disclose material facts to all parties in the transaction . The duty of disclosure of material facts is mandatory under License Law and Rule. No. Seller, buyers, lessors, or lessees do not have a duty to discover and disclose

Real estate agents and attorneys can help ensure compliance with the disclosure requirements for your state. Most states have specific forms that must be used when making disclosures. Even if not legally required in your state, it's good practice for the seller's real estate agent or attorney to use a form that clearly spells out all of the seller's disclosures and is signed by both the. The problem still persists and the dealer believes the car has been repaired before, possibly as a result of an accident, and they cannot rectify the issue. I have since been in touch with Volkswagen UK to explain the situation and they said they will speak to the supplying dealership and do 'some research' to find out if the car has been in an. Property Disclosure Form Gives Something To Focus On When Visiting A Home. Let's say the property disclosure form does mention past roof issues or past foundation issues but that have been repaired. Home buyers wanting to see that house should look for signs of those repairs or signs of poor repairs that really did not fully fix the problem

Foundation Problems . In areas with basements, foundation issues or problems with water can be a major concern. It's generally required that you disclose these issues, even when you may now know all the details. If there any signs of possible water damage, it's often best to clearly disclose them and offer a credit toward remedying the issu Before buying a house, you should look out for various warning signs. As someone who has purchase multiple homes since 2003, let me share 10 main warning signs to look for. With real estate demand so strong post-pandemic, every buyer must be a thorough home inspector. The last thing you want to do is bid an enormous amount of money for a home and then have to come up with large unexpected costs Only the seller is selling the property. Remember that the seller's disclosure notice is a risk-reduction tool for the benefit of the seller. The seller does not need to add to his financial problems by risking a DTPA suit for nondisclosure of items that could have been provided to a buyer by the careful preparation of the seller's disclosure. Is my house lateral hooked to the catch basin? No. They are two separate systems. However, if it is found that a lateral was illegally hooked into the catch basin at some time in the past, the line would be disconnected. The property owner would be financially responsible to have the lateral connected to the sanitary sewer main. 8 Illinois. 775 Ill. Comp. Stat. § 5/2-103. Rules for employers: It is a civil rights violation to ask about an arrest or criminal history record that has been expunged or sealed, or to use the fact of an arrest or criminal history record as a basis for refusing to hire or to renew employment

Do you have to declare problems with Neighbours when

Full disclosure is the best policy and, as you would do if your property had had problems with damp in the past, you will need to satisfy prospective buyers that you have dealt with the problem satisfactorily. Subsidence causes. Subsidence occurs when the ground on which a property is built shifts for some reason Information that needs to be disclosed as part of a sale. Consumer protection regulations (CPRs) dictate that a seller must disclose any pertinent information they have about the property which might influence the prospective buyer's decision. The following list provides an indication to the type of information that requires sharing: The. It's been 10 years overdue, announces Tasmanian buyers agent Rob Zubin of Real Estate Buyers Agents Association of Australia. Up until now it's been a 'buyer beware' market. In the past, building inspection clauses would be removed from the contract by selling agents and opportunities to amend a contract before it became. For instance, if they have repaired the roof, they need to disclose that, even if the work was carried out years ago and solved the problem. Disclosing the repair may protect the seller if the.

Do you have to disclose if a house has flooded in Texas

So far, Schumer hasn't been able to win over Sens. Olympia Snowe (R-ME) orSusan Collins (R-ME), 2 other Dem targets who have supported new campaign finance reforms in the past. The problem for Brown and other Republicans is the nakedly political tilt of DISCLOSE As for the pre-existing problem, talk to your lawyer and let them deal with the seller. If it happened 3 times before, it should have been disclosed. If it happened once and they fixed it, that might be a different story. If the tenants didn't have renter's insurance, then they are on the hook for their own items. That is why they need insurance Are you aware of any past or present damage to the property (i.e. fire, smoke, wind, floods, hail, or snow)? 20. Have any insurance claims been made for damage to the property? 21. Was an insurance payment received for damage to the property? 22. Has the damage to the property been repaired? 23 Some could have stayed and been fine. And while I've made big decluttering progress over the years by giving myself simple and non-emotional strategies to let go of stuff, I've been using this mindset quite a bit lately: If I get it out of my house, I'll never have to think about it again. And freeing my brain of a few things here and. Recommend service or call a plumber. If you need further assistance you may enter a case in Contact Henderson or call the Department of Utility Services' Customer Care Center during regular business hours Monday through Thursday from 7:30 a.m. til 5:30 p.m at 702-267-5900. (FAQ4493) less

Do you have to disclose if there has been a water damage

§ 35.284a(c) and (d)—Seller's agents and buyers agents are required to disclose known defects but are not required to make independent inspection IRRC requested that the Commission address whether these subsections should apply to anyone involved in the transaction. Like its comment to subsections (a) and (b), PAR recommended that they do Q: I have lived in my parents' house for the past 19 years. I've been paying rent the entire time. They want to sell it to me for less than the market value but are afraid of the huge capital gains taxes. The home was purchased 19 years ago for $120,000 and the home has doubled in value. If they sell the home to me under the market value,.