Home buyers are crying, “Lions and tigers and termites” - oh, my!
In 1991, my husband and I and our three children were looking to move from Flint to Lansing, MI. We had previously lived in Lansing for six years; my husband’s job promotion taking us to Flint. Eight years later we were delighted to have the opportunity to move back to Lansing, where so many of our friends were still living.
We had found a house that fit our budget, had a great back yard, beautiful hardwood floors and a meager 10-minute drive, door-to-door, to my husband’s office. We were set to look at the house one more time, when our real estate agent gave us a disclosure statement. The house had been treated for termites - for me, a huge red flag. I was disappointed, but felt confident the house that was meant for us was out there waiting. The next house my husband found, not one week later, has been our home for nearly 18 years.
In the northern part of lower Michigan is a beautiful area known as the Leelanau Peninsula. Back in 2003 a couple bought a home that had been a summer home for the owner for 35 years. (Note: Our home had been owned and occupied by the same family for 62 years. Really a find!) Two weeks after the sale, the previous owners notified the buyers that they could expect hordes of bugs come spring. They also told them they had brought a pest company out to the house, that the bugs couldn’t be avoided, but their stay wasn’t very long.
The bugs showed up right on time the following spring. The new owners called in a pest company, only to find out their house was infested with termites and was structurally unsound. They filed suit against the previous owners. Click here for the complete story.
The case is now resting with the Michigan Supreme Court and all parties concerned are awaiting a decision, which is expected by the end of July. The question is: ”Who knew what and when?” (Remind you of the Iran Contra affair?) Every state has its own statutes regarding disclosure by a home seller. Could a decision in Michigan’s highest court have a ripple effect throughout the nation? Time will only tell.
TALK BACK: Have you had a good or bad experience buying a home relating to the disclosure statement? Did it affect your home purchase decision in any way? Post your comments below.
Posted by Sharon Walker
Tags: disclosure statement, home inspection, pests, termites