Could we just hide it?
2007-03-03 17:13:00 · 6 answers · asked by (A) 7 in Business & Finance ➔ Renting & Real Estate
You should be ashamed to ask such a question. It's sad such an event has occured on your property but NO YOU CANT HIDE IT. Have a geotech firm locate the source / cause and remedy the situation. Have them sign off on the repair and then disclose it to a buyer and include the report. There are many sleazy agents, the kind that make up the majority these days btw, that will say yes or offer to hide it for you. The danger to you, is of course, later being found guilty of fraud and sued for more than the cost of the house. Its a shame you are in such a situation but trying to hide such a latent defect can cause much more costly issues than just doing the right thing and fixing the sinkhole right. It might not be your fault it occured, what you do from here however will be all your fault.
2007-03-03 17:35:00 · answer #1 · answered by Kevin H 4 · 6⤊ 0⤋
A sink hole could kill a sale depending on the buyer and whether or not they are willing to deal with it. If you hide it, you could be sued later down the line and lose more than what you made on the sale in a lawsuit. I wouldn't suggest hiding anything. The #1 law of selling real estate is disclose disclose disclose. 50% of law suits are real estate related and very similar to reasons of people trying to make a quick sale and NOT disclosing what they know about the property. The TRUTH will ALWAYS set you FREE!!
2007-03-03 17:29:03 · answer #2 · answered by melissa h 1 · 2⤊ 0⤋
Now that makes as much sense as screen doors in a submarine.
Of course it would not kill a sale if the buyer was intending to build a pool or a bomb shelter. If it's for a home to be lived in those buyers better have a desire to build a huge basement.
2007-03-04 04:03:04 · answer #3 · answered by newmexicorealestateforms 6 · 1⤊ 0⤋
I completely agree with the other poster, and I am a mortgage person for 10 years. First, was it a sink hole? Did you get it tested by an authority? Did you claim insurance on it? Has it been repaired?
disclose disclose disclose.
2007-03-03 17:32:29 · answer #4 · answered by batwanda 4 · 1⤊ 0⤋
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2016-10-17 05:36:33 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Your a California licensed Real Estate agent and asking this ?
I agree with the above answer, you really should be ashamed.
2007-03-03 18:39:53 · answer #6 · answered by Myron 4 · 3⤊ 0⤋