I agree with most of what you say, however, when you’re talking about a house and the potential liability of an improper repair that could come back and bite you (if not discovered prior to the sale) it’s cheaper in my mind to shift the liability to someone else.
And, if you don’t disclose it at the time of sale and an inspection reveals it, you may have a big (legal) problem on your hands. Your wife is a realtor or held a realtor’s license. She should know all about disclosure and the risks involved. Taken directly from Oklahoma Title 60, O.S. Section 831 et seq.: Definition: “Defect” means a condition, malfunction or problem that would have a materially adverse effect on the monetary value of the property, or that would impair the health or safety of future occupants of the property; And; Section 837. Remedies: “The sole and exclusive civil remedy at common law or otherwise for a failure under subsection a of this section by the seller or the real estate licensee shall be an action for actual damages, including the cost of repairing the defect suffered by the purchaser as a result of a defect existing in the property as of the date of acceptance by the seller of an offer to purchase and shall not include the remedy of exemplary damages. c. any action brought under this act shall be commenced within two (2) years after the date of transfer of real property subject to this act. d. in any civil action brought under this act, the prevailing party shall be allowed court costs and a reasonable attorney fee to be set by the court and to be collected as costs.” So if you half-ass it and the buyers find out, they have two years to come after you. You’ll pay all of their litigation costs when the dust settles, too. I’m just sayin'…. > On Jan 25, 2017, at 7:28 PM, Kaleb C. Striplin via Mercedes > <mercedes@okiebenz.com> wrote: > > No I did not. I was naive at the time and we were pretty much steered toward > that house by our realtor. This realtors coworker at the same real estate > office was the listing agent and her uncle was the bank president who owned > it. So we were pretty much funneled to it. Whatever. I still don't think this > can be that complicated of a repair. If I took the advice of leaving things > up to the pros I wouldn't do half the jobs I have on cars or otherwise. Hell > I tackled major home wiring after a short education from Curley. > > Sent from my iPhone > >> On Jan 25, 2017, at 6:23 PM, Craig via Mercedes <mercedes@okiebenz.com> >> wrote: >> >> On Wed, 25 Jan 2017 19:16:38 -0500 Dan Penoff via Mercedes >> <mercedes@okiebenz.com> wrote: >> >>> Man, I hate to say this, but I would leave this to a professional since >>> it’s a structural issue. If you get a home inspector in there for a >>> potential buyer and they find repairs that are structural in nature >>> that haven’t been done properly, they’re going to bolt and in a big >>> hurry. Then you have it on record that there are structural issues. >>> Makes it all the more difficult to market/sell. >>> >>> What’s the alternative? “Fixer-upper?" >> >> Is not the one who sold to Kaleb liable for deception? >> >> Did he have an inspector look at the house before he bought it? >> >> >> Craig >> >> _______________________________________ >> http://www.okiebenz.com >> >> To search list archives http://www.okiebenz.com/archive/ >> >> To Unsubscribe or change delivery options go to: >> http://mail.okiebenz.com/mailman/listinfo/mercedes_okiebenz.com >> > > > _______________________________________ > http://www.okiebenz.com > > To search list archives http://www.okiebenz.com/archive/ > > To Unsubscribe or change delivery options go to: > http://mail.okiebenz.com/mailman/listinfo/mercedes_okiebenz.com > _______________________________________ http://www.okiebenz.com To search list archives http://www.okiebenz.com/archive/ To Unsubscribe or change delivery options go to: http://mail.okiebenz.com/mailman/listinfo/mercedes_okiebenz.com
