Expert: Dick Dennis - 8/25/2006

Question
I am currently in the process of purchasing a newly built home, my first, by a very reputable builder, but it was recently flooded throughout the entire house because of vandalism.  Everything is being replaced or repaired completely, as well as inspected by an outside company that I have been told has a lifetime guarantee on their inspection.  I am fairly confident that the damage will be completely taken care of and there will not be any future issues with the construction.  However, I am worried about running into trouble when trying to sell.  Am I correct that this information has to be disclosed when we try to sell?  If so, how likely will we be to run in to people either completely backing away or just negotiating a lower price even though there is a lifetime guarantee on any issues?  Thank you very much for your time.  Any help is greatly appreciated.

Answer
Not exactly correct, Derek. You live in the house. And as long as you have no trouble with ANYTHING, you do not have to report anything. The only things you do have to report are those that YOU DO have problems with.

In the meantime, enjoy your new house.

I do wish you well.

Dick Dennis          dixiedee13@aol.com