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I did a deal 17 years ago and I do not have paperwork ?
I did a deal 17 years ago and the buyer called me to say that there was asbestos and claims it was there since they bought the home. The home had a home inspector but I do not remember who it was or the lawyer.What do I do in this case? I did not know what to pick for Category.I shridded all my files after 10 years
Asked By Glenda | Barrie, FL | 131 views | Working With An Agent | 2 months ago
Answer(3)
Ashley Blackmore
Blackmore Group
Since the transaction happened 17 years ago and you no longer have records, your liability is likely very limited or nonexistent. In most states, the statute of limitations for real estate claims, such as fraud or misrepresentation, is typically between 3 to 10 years. Additionally, since the buyer had a home inspection and legal representation at the time, they were responsible for their due diligence. If the buyer reaches out, keep your response neutral and professional, stating that you no longer have records from that transaction and that any concerns should have been addressed at the time of purchase. Avoid admitting any responsibility or offering assistance. If they threaten legal action, they likely don’t have a case due to the time elapsed, but if concerned, you can consult an attorney. However, you are not responsible for this issue, and if they persist, politely refer them to their own legal counsel or home inspector.
- 2 months ago
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Lucy Mierop
Re/Max Market
An agent can come back 17 years on the MLS AND see who sold the home. If that agent is still working, she might have the file uploaded on her system. I upload all my files. I am in business 38 years. I can get to any file to see who did the home inspection, attorney and title company.
Worth a try. Lucy Mierop
- 2 months ago
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Beatrice Covington
Emmanuel Jamar Realty Group
Most likely, you are in the clear. Seventeen years later, it is unlikely that this issue will resurface. Moreover, the buyers had a home inspection, which provided an opportunity for discovery, negotiations, and remedies. If they failed to address the issue, it is documented in the inspection notice that they are responsible for. If the inspector did not mention it during the inspection, the fault lies with the inspection company they hired and trusted.
The only scenario where this could potentially come back to haunt you is if there is evidence that you were aware of the seller’s disclosure and failed to disclose it to the buyers. The only way they could have such evidence is if a company comes forward and claims to have met with the previous owner, Glenda, years ago and advised them to address this issue before selling the home.
- 2 weeks ago
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