Failure to disclose knocks out Muhammad Ali

By
Real Estate Agent with Home Buyers Marketing II, Inc. Broker/Realtor DC,MD/VA

Former Boxing Champ Muhammad Ali and his wife, Yolanda, are suing the couple who sold them their Louisville, Ky., mansion, according to multiple reports and Fox news. 

 

Ali and his wife claim that the former homeowners, Patrick and Beverly Lancaster, lied to them about problems with the home. The problems were discovered after moving in.

The lawsuit states that the Alis were not informed of roof and chimney leaks, poor insulation, improper ventilation and mold.

Ali also says the Lancasters were well aware of these issues but still sold the home.

The Alis purchased the home in 2007

In Southern Virginia, Hampton Roads 7 cities from Virginia Beach to Williamsburg buyers are given a property disclosure disclaimer that states it is the buyer who needs to perform all prudent inspections and find out about the condition of the home, zoning, schools, and adjacent parcels before closing.  However, it does not relieve a homeowner from disclosing all known relevant problems with the home.  I do not like the form because it is not specific.   I like the old form that asked specifically does your roof leak yes or no.  Has your roof leaked yes or no.    With the new form if someone is going to lie or omit info you will not know unless you figure it out later.  In Hampton Roads, Of course certain property types are exempt from given any property disclosures at all such as bank foreclosures and new construction.

In Virginia Home Inspectors do not have to be licensed.  Any Tom, Dick or Harry can grab a ladder and a clip board and do an inspection.  I suggest to my buyers that they use a certified home inspector that are members of either the National Association of Home Inspectors  Nahi.org  or The American Society of Home Inspectors  ASHI.org.  These inspectors  have to meet certain testing requierments and perform a required minimum of inspections to remain certified. So hopefully you will have a better chance at making sure items are not missed...........

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Deandrea "Dee Dee" Jones                                                          

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Home Buying Marketing II, Inc.

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Rainer
243,805
JOSH EVANS *JoshEvansHomes 516-655-5000
Village Properties of Mineola, LLC - Mineola, NY
Great story. Wow. Thanks for the info. Good job. Keep up the good work
Oct 13, 2011 02:27 AM #1
Rainer
19,277
Dave Williamson
Gateway Funding - Winona, MN

Disclose....Disclose....Disclose.....and likely no issues. Go Champ !

Oct 13, 2011 02:29 AM #2
Rainmaker
204,429
Candy Miles-Crocker
Online Real Estate Agent Training - Chevy Chase, DC
Realtor - Real-Life Real Estate Training

There are some issues that homeowners just don't know.  Very rarely does a seller know what type of insulation they have or if there is any insulation.  Roof leaks may not even be visiable.  Perhaps the Ali's should have had a better home inspection.

Oct 13, 2011 02:30 AM #3
Rainer
104,722
Eugene Pridgett
The Gene Group Inc - Beavercreek, OH
Broker, CRS, CDPE, ABR, SFR

Regardless of the vernacular of the disclosure form it's all boiled down to the terms latent, patent, and knowledge.  If a seller has knowledge of a defect affecting habitability they must disclose or be held liable.  I always tell my clients, in writing, when in doubt over disclose.  That protects both them and me.

Oct 13, 2011 02:43 AM #4
Rainer
406,653
James Loftis
RealEstate911.com - West Palm Beach, FL
RealEstate911.com

Hello Dee-Dee,

  Great story, thanks for sharing with us.

Oct 13, 2011 02:43 AM #5
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DeAndrea "Dee Dee" Jones

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