Disclosure before closing?

[spice1r]

What is the name of your state? Minnesota

I sold my house, and the buyers did an inspection and everything passed fine. The closing is in about 1 month. Here's the issue:

In the upstairs bathroom, when you take a hot shower, or run hot water down the drain in the sink, you will hear a ticking noise behind one of the walls where the waste water/sewer pipe is. I checked around and this is a normal thing, because the sewer pipe is plastic, and it makes this noise when it expands and contracts. This ticking noise, can be heard along the length of the pipe, which goes all they way down to the basement. This has always been a minor nuisance to me, but I lived with it.

The question I have is, I didn't put this in the disclosure when selling the house (because I just put in there any things that I thought were major), but now I am getting worried that I could get sued when the buyers take possession. Should I tell the buyers about this now, and if I do, will I be forced to pay to fix this item?

[HomeGuru]

Originally Posted by spice1r

What is the name of your state? Minnesota

I sold my house, and the buyers did an inspection and everything passed fine. The closing is in about 1 month. Here's the issue:

In the upstairs bathroom, when you take a hot shower, or run hot water down the drain in the sink, you will hear a ticking noise behind one of the walls where the waste water/sewer pipe is. I checked around and this is a normal thing, because the sewer pipe is plastic, and it makes this noise when it expands and contracts. This ticking noise, can be heard along the length of the pipe, which goes all they way down to the basement. This has always been a minor nuisance to me, but I lived with it.

The question I have is, I didn't put this in the disclosure when selling the house (because I just put in there any things that I thought were major), but now I am getting worried that I could get sued when the buyers take possession. Should I tell the buyers about this now, and if I do, will I be forced to pay to fix this item?

**A: read the disclosure law. The law does not state to list only items that you think are major. You need to disclose material facts.

[spice1r]

As far as your answer, you're saying I should have disclosed the ticking waterpipes right? What is meant by material fact? What should I do now that we are a few weeks from closing, tell my real estate agent to tell the buyer? Will I be required to spend whatever it takes to fix the problem to the buyer's satisfaction? Or do I need to look at the PA and see what that says? Thanks.

[HomeGuru]

Originally Posted by spice1r

As far as your answer, you're saying I should have disclosed the ticking waterpipes right?

**A: yes.
******

What is meant by material fact?

**A: any fact pertaining to the property that you know or should have known where such fact would have caused a Buyer to offer a lower price, request repairs or cancel the deal.

***********


What should I do now that we are a few weeks from closing, tell my real estate agent to tell the buyer?

**A: verbally disclose the condition and update your disclosure statement.
********

Will I be required to spend whatever it takes to fix the problem to the buyer's satisfaction?

**A: how would I know. I am not the Buyer. What if the Buyer saiys no big deal.

**********
Or do I need to look at the PA and see what that says? Thanks.

**A: yes, you should have read that law before posting back.