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Saturday, 29 April 2006 |
I was watching the news last night, and heard something that might be of interest to anyone thinking of buying or selling a home in Utah. Actually what I heard last night on the news was of little interest to a buyer or seller, but it brought up a point that I think will be of interest.
The story was about how wet this spring has been and featured a homeowner who has spent a lot of money to keep his back yard from sliding down the hill. Click here to see the story. If you will notice in the fourth paragraph, "He asked to remain anonymous over concern the house could be difficult to resell"
This whole situation may and probably will make the home hard to resell, but he cannot avoid that by his anonymity.
In Utah sellers have to disclose all material facts about a home to a buyer before the sale of the home. Material fact is defined as a fact about a property that would influence a decision to buy the property.
The fact that the home is built on a landslide is material, and he will have to disclose that to anyone who buys his home in the future. |
