Does a homeseller or a HOA have to disclose if a Walmart is being built across the street?

Question

We have recently bought a home and just learned that a Walmart has puchased the open field across the street. I am wondering if the Home Oweners Association, seller or realtor was required to disclose this information if they were aware of it.

Answer 1

No they don't...that is your Realtor's responsiblity to check on commercial property that may be going in.

Anytime there is an open area of land, or a building that appears to be abandoned, the FIRST THING a Realtor should do is find out what is going on with it.

Your property value may go down because of it, and I believe that you have legal grounds to file a complaint against your Realtor.

If you bought the house without a Realtor....most states are still buyer-beware....and you are SOL.

Answer 2

nope.

the knowledge that the open field was planned or zoned [or both] for Commercial use was publicly available at the local zoning department.

It is your responsibility to look at the area and then find out about anything that might go into something as obvious as a vacant field.

the phrase is "buyer beware" for a reason.

:)

{added for some of the folk above: the Realtor is usually an agent of the seller, not the buyer, and in most states doesn't have to say anything about the sale of nearby property -- his job isn't to look out for you, but to look out for the seller. As to the comment about a house where a murder or other crime occurred -- in most states this need not be disclosed either. As a possible buyer, you find this out by talking to the maybe new neighbors when your agent is NOT with you.}

Answer 3

They are required to reveal information regarding the home and the property you bought if it is adverse information regarding the house and property. Such as if a death ever occured inside of the home or if a sinkhole was ever discovered on the property. Regarding the Wal-Mart, if you had asked, they were required to answer truthfully, and the Realtor who was working on your behalf should have told you, if they knew, although it was not required. Did Wal-Mart purchase the land after you closed on your house or before?

Answer 4

the homeowner has not legal liability in this issue....you and your realtor did not do your homework adequately.

good luck :)