That’s because, under the Constitution, it’s not the federal government’s job to regulate intrastate contract law?
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Yes. Just like real estate licenses are issued by the states. In California, a seller is required to disclose an insurance claim if it happened in the last five years. You can also pull a CLUE report to verify they are telling the truth.
@LifestyleRES
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That is not true, sellers must sign certain disclosure statements concerning the properties history of repair or lack thereof Come on WJS....get it right
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Not in every state
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That's fair, I know it applies in md and de
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RT
@WSJ: No federal law requires home sellers to disclose if their properties have been ... https://twitter.com/i/web/status/942444911642775552 …pic.twitter.com/ymLo0QPCAb
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The buyer needs to do their homework. Simple= insurance maps, with your phone (GPS)check the height of the Foundation with sea level. Common sense. Don’t need Gov. unless your under 45yrs old. Try being independent.pic.twitter.com/Ed2fRLfANf
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That’s crazy. As a potential homeowner that is definitely something I would want to know about a home.
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She knew it was in a flood plane. 100yrs is an estimate of the past, if construction in the are or any road work has been done this changes the landscape. Did she talk to anyone? Beware
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In California, the disclosures are a foot thick! Not sure a flea infestation is not required to be disclosed! The sheer weight of all the disclosures numbs the buyers minds to the point they probably don't understand any of it! Lots of profit in forms!
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ThIs is spin. Every insurance and mortgage underwriter company runs a property through a flood plain search. If you buy a property for cash pull up the FEMA web site and find your flood risk via the property address.
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Not true!!! Your lender will tell you if you’re getting a loan. Also, disclosures in California require you to tell the new buyer.
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Buy in Florida
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Obviously we need less regulation so this doesn’t continue to happen!
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