[manaboutown]

Originally Posted by John_W

The OP using the title Realtor caught my eye right away, and I was just getting ready to hit reply when I saw your post and then deleted mine. Here's a situation that not being a Realtor they were able to side-step.

In 2012 our next door neighbor in his 2011 built courtyard villa, who still lived and worked in Connecticut, came for a visit. They had only been here for a couple of short visits before, they found the master bathroom and bedroom flooded with standing water. They knew immediately the carpeting and drywall was ruined plus other damage.

They contacted TV warranty department and they found a leak in the plumbing under the master bath in the slab. For three weeks they worked to repair the problem. Jack Hammering into the slab, fixing the slab, replacing all the drywall, the bathroom vanity and flooring in both the BR and Bath. It looked like new when they were finished and nothing was charged to the owner.

A week later the owner scared to live there in the future, listed the home with TV Sales Office for $209K, they had paid $162K for the new masonry CYV the year before. They sold the home in one week for $193K and when the new owners were standing in the driveway just moments after arriving for the first time. Another neighbor asked them, what did you think about the flooding problem. They had no clue that there was damage and a major repair.

They got a lawyer and contacted TV Sales Office and the response was, the TV Warranty Department fixed the problem so there was no need to convey any information to the buyers. That owner immediately listed the home with TV Sales Office and it sold in two weeks for $215K. Guess what, that owner was never told either, but they still own the home three years later.

Caveat Emptor!