What happens if you fail to disclose a water problem in a home that is for sale?

Answer by  asdfdadeq (46)

Depending on how bad the problem is, the buyer could have grounds to break the deal - Even after they take possession of the home. Even if they have grounds to do so, however, it may cost more to pursue it than to fix the problem themselves.

Answer by  txjd (35)

State laws vary, but in general if a house has a significant defect of which the owner is aware, the owner must disclose the problem to potential sellers. Otherwise the buyer can successfully sue the seller for fraud, which could require the seller to pay damages to the buyer (to repair the problem) or even to refund the purchase price.

Answer by  sherryk (621)

If you live by the Golden Rule you will disclose the water problem. Period. honesty is the best policy--so be honest; perhaps you can negotiate the repair costs into the agreement.