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Buyer Beware: Disclosures Don't Tell the Whole Story!
Recently, I received a call from a buyer's agent regarding a home that I had listed and sold to her buyers several months ago.  She was questionning whether the seller knew that there was old termite damage in the ceiling of the main floor of the house.  When I asked how it was found after the closing and not by the termite inspector, she indicated that the buyers had removed the crown moulding as well as the wallpaper and it was found then.  That explains why the inspector didn't find it, it was HIDDEN.  The agent was accusing the sellers, who had lived there for over 45 years, knowingly covered up damage with crown moulding over 20 years ago.  Well, since it was a POA that completed the disclosures due to an owner with dementia, there was limited information provided in disclosure other than what the seller had maintained for records and repairs.  So it begs the question, did the seller know and that is why they added the moulding?  Or did they add the moulding because it was all the rage back then?  We will never know!
 
Another situation happened to a friend of mine.  Her brother had purchased a home ... more

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