What happens if a seller receives a copy of a recent inspection report?
All right, guys, what happens when you get the inspection so you’re in a transaction and you have a buyer and they have an inspection done and then they terminate the contract, but they’ve sent you the inspection. This question comes up all the time, what do we do with it? Do we have to share it? Can we share it? What do we do with it? Well.
This can also fall into a little, you know, gray area sometimes, but what we tell you guys all the time is to always be transparent, disclose, disclose, disclose. Think about it. If you ever had to go in front of a judge and you’re having to prove your case, what happened.
Right. Can you do that? So just because someone shares the inspection with you doesn’t mean that you have to then disclose it to everyone, OK? You don’t have to do that.
That is a seller’s choice in the seller’s right to do that. Now, on our seller’s disclosures, we have to disclosures. We have the track seller’s disclosure and then we have the Texas realtors disclosure.
So on the track disclosure, there’s no where to really identify an inspection and if you’ve been given one. But on the Texas Realtors seller’s disclosure in number 10, it asks that question specifically. Have you ever been given a an inspection in the last four years? And then it does out to the side say if. Yes. Then please provide the inspection. OK, so that’s where it gets a little tricky, because what you want to do is, you know, a seller doesn’t a lot of times are sellers don’t want to get a pre inspection done because they don’t want to have to share it.
Right. Oh, that’s going to look bad. No. So what that is called in, I would say with the with, you know, upper level of of track is called.
Willful, willful ignorance.
Ok, so when you don’t disclose something or you think you don’t want to get an inspection and you don’t want to see it and all these things because you don’t want to provide it later, that’s willful ignorance. OK, what we do want and we see this a lot of times, right. That on the other side, the listing agent will say, don’t send me the inspection, don’t send it to me. Well, you know what? Forget to send her an inspection.
If you sent her a list of things that you found on the inspection and she saw it, she then has to they have to disclose that any material fact, anything that they find that could potentially change the decision of the other side in pursuing this property needs to be disclosed. So if you ever have a question on should I disclose this or not, then you need to ask yourself that question. Now, if you have a seller and he corrects the problem, then it’s corrected, then you don’t have to then it’s fine.
Right? You don’t have to disclose that.
But anything that that comes up like that, you do have to disclose it. And what you need to do is then if something comes up, the seller needs to update their seller’s disclosure, sign a new one, add that to it. Always keep it current.
Ok, so I, I, I want to make sure that you guys are just aware of this and know that no, you don’t have to provide the disclosure or the seller’s disclosure if you have it.
Technically it’s not ours or your sellers. If it was purchased and bought by someone else, it’s their disclosure.
But what you’re doing is you’re now being made aware of something that is different than what you thought. Right? So you need to address it and you need to identify it and update your seller’s disclosure. And that will keep everybody protected, OK? All right.