Imagine you negotiated the closing on your home purchase. An inspection revealed that there were various problems with the home — but it did not reveal that it had a leaky roof. You signed a waiver to accept the problems and you purchased the home, only to discover several months later that the roof leaks like a colander.
Do you have a recourse? Will the disclosure you signed prevent you from holding the person who sold you the home responsible?
As long as the inspection of the home did not disclose the roof problems you’re encountering — and as long as the seller didn’t disclose these roof problems to you — you will probably have the right to hold the seller financially liable for the roof repairs you require. One thing that could affect your ability to hold the seller accountable relates to the seller’s ignorance of the roof problem. If the seller tries to claim that he or she didn’t know the roof was so leaky, you will need to prove that the leak existed prior to the sale and that the seller should have been aware of it. These kinds of problems don’t usually show up overnight — and if the leak presented itself as a result of a typical rainstorm — you could have a viable claim.
Buying a home is a risk, no matter what residence you purchase. However, there’s no reason for you to cover the cost of serious real estate property defects and other problems that were obscured from you while you evaluated the quality and value of the home you purchased.