• FreeAdvice has a new Terms of Service and Privacy Policy, effective May 25, 2018.
    By continuing to use this site, you are consenting to our Terms of Service and use of cookies.

Purchasing a Home from a Relocation Company

Accident - Bankruptcy - Criminal Law / DUI - Business - Consumer - Employment - Family - Immigration - Real Estate - Tax - Traffic - Wills   Please click a topic or scroll down for more.

J

Julie Flesch

Guest
What is the name of your state? California

My husband and I are in escrow for the purchase of a home that is being sold for a couple by their relocation company. The sellers (couple that originally owned the home) quit claimed the home to the relocation company, which was fine with us....until....
We recently recieved a form that they want us to sign releasing them of any and all liability regarding the condition of the property. We asked our real estate agent and he told us that the liability would be in our hands - even regarding undisclosed issues. Is this legal? Do you have any recommendations as to how we might be able to purchase the property without signing such a form? We thought of having the seller supply an insurance policy on the house, land it sits on etc....but in what amount? $1,000,000? Any recommendations? Will this even stand up in court if there are state laws that place the liability in certain circumstances on the side of the seller? Thanks for any advice you can provide!
 


HomeGuru

Senior Member
Julie Flesch said:
What is the name of your state? California

My husband and I are in escrow for the purchase of a home that is being sold for a couple by their relocation company. The sellers (couple that originally owned the home) quit claimed the home to the relocation company, which was fine with us....until....
We recently recieved a form that they want us to sign releasing them of any and all liability regarding the condition of the property. We asked our real estate agent and he told us that the liability would be in our hands - even regarding undisclosed issues. Is this legal? Do you have any recommendations as to how we might be able to purchase the property without signing such a form? We thought of having the seller supply an insurance policy on the house, land it sits on etc....but in what amount? $1,000,000? Any recommendations? Will this even stand up in court if there are state laws that place the liability in certain circumstances on the side of the seller? Thanks for any advice you can provide!
**A: do not sign such a form. Make sure you get a disclosure statement from both the former owners and the relo company so BOTH parties are on the hook.
Make sure you get a home inspection and other inspections.
 

Find the Right Lawyer for Your Legal Issue!

Fast, Free, and Confidential
data-ad-format="auto">
Top