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Updated about 6 years ago,

User Stats

13
Posts
3
Votes
Chris Witt
  • Specialist
  • Chicago, IL
3
Votes |
13
Posts

Disclosing Previous Inspection Findings?

Chris Witt
  • Specialist
  • Chicago, IL
Posted

Question for all the agent/brokers out there. 

I would like to buy a property that has been contingent twice, each time falling thru after inspection. I understand previous inspections reports are the property of previous prospective buyer, therefore the seller is not able to share a full blown report with another buyer as it is not their property. 

However assuming the buyer disclosed specific information to the sellerfor whatever reason...either in negotiations or just for the seller's reference (ie your foundation is cracked and needs immediate repair), does the seller and/or agent (depending on who was privy to said information) have any obligation to disclose that information when asked for it by another buyer? 

I understand the seller's agent has a fiduciary responsibility to the seller and offering that information unsolicited is not in the seller's best interest, however what is the point of the disclosure statements if the seller does not have to disclose that type of info? I also understand proving what a seller knows can be difficult - let's look past that part for this post.

Just to be clear, I'm not asking for the numbers from the past deal and I do realize an inspection report is subjective. I'm just trying to avoid going through the same process wasting everyone's time. 

I have read similar posts but still do not have a definitive answer so hoping to get some good insight here. 

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