Monday, October 24, 2011

Failure to disclose in VA can Knock you out

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 or The American Society of Home Inspectors 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

Associate Broker / Recruiting Sales Manager Peninsula

Blu Skyy Realty Virginia Beach, VA

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