These are just a few of the most recent benefits that Disclosure Protection Plan has given home sellers.
Shortly after closing, the buyers discovered that a 15-minute shower in the master bathroom caused water to leak from cracks in the tile. The leakage was not detected in the home inspection because water had to run for at least 15 minutes to start leaking. Sellers were unaware of the leaks because they didn’t take long showers.
The buyers demanded $25,000.
The issue was settled for $17,500 to the buyer in addition to covering seller’s defense costs.
Upon replacing windows after the purchase, the buyers discovered significant termite damage and water intrusion that wasn’t visible until the contractor got into the walls. Buyers also claimed that the sellers didn’t disclose that there was a problem with the alarm system.
The sellers disclosed that the phone lines weren’t working, but didn’t disclose that the alarm system was damaged. The buyers learned the alarm system was damaged when the alarm company tried to set up the alarm. The sellers didn’t know the alarm system was damaged, because they didn’t use it.
The buyers made a total demand of $18,500, and this was settled for $10,000 in addition to covering seller’s defense costs..