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house rebuilt year

Hi every one. I have a question, We are trying to buy a house and everything was good enough so far but recently we found that house has an older foundation then structure itself. Seller did not disclose that fact and listed the house as '85 but foundation is older , like '69. So does anybody know whether the seller is supposed to disclose such information and what's gonna happen if he did not? I mean , should we be warried about it or just forget it? Yeah everything is happening in NH Please advise Thanks Djavdet

Reply to
Djavdet
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Ask the town bldg dep't if they have any permit info on the house. If the rebuild was done sans permit, the seller would need to have disclosed that fact at least.

Jim

Reply to
Speedy Jim

If it was disclosed to them.

Reply to
Joseph Meehan

The build date and effective year built are two different dates entirely. Your county tax assessor should have the build date indicated by the original permit pulled by the developer or builder. Like already mentioned your planning and zoning department should have a record of the original build date.

No need to panic though. When the dates differ you just need to find our why. In many cases it?s an error or the home has been updated and the work was extensive enough that the county chose an effective year built of 1985 over original date 1969. I think your seller should have advertised 1969 regardless.

It could be a good thing, I?ve seen homes that were gutted to the studs and had new wiring, plumbing, sheet-rock, casing, base etc. replaced. If you don?t have any permits pulled in 1980?s then I would worry. Plus make sure that the home doesn?t have aluminum wiring. It would be an anomaly if it did but these are questions to ask.

There comes a time in the affairs of man when he must take the bull by the tail and face the situation. -- WCF

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Reply to
Darrell

Thanks for the answer, Let's say we found that they had building permit and city knows about ( I think it is so ). I am trying to think how bad this is for us? Would not it be a lie to us and maybe the price of the house should be adjusted? We negotiated the price without knowledge of that rebuilt thing. Or maybe i need to ask this question to lawyer? In general, should not rebuilt house be priced a bit lower then "normal" one? Thanks Djavdet.

Reply to
Djavdet

Eh, it's not like foundations wear out (at least, not over the timeframes we're dealing with her). Why should it be priced lower? As long as the foundation area was brought up to code (vapor barrier, insulation) at the time of construction, I can't see how it'd matter.

Now if the reason things were rebuilt was due to a fire, then I'd be a bit more leery -- there'd be the possibility of all kinds of spalling or other weakening if the fire had been severe.

Reply to
Andy Hill

yah right! a rebuilt house would be priced "higher" than the original not lower. It sounds like you got a great deal. and BTW the foundation age should have been on the purchase and sales agreement or listings page (before you purchased it). You should check your paper work again.

Reply to
Chucky
1- Do you have knowledge that the owner knew it was built earlier?

2- Is there any evidence of the foundation being in poor condition?

3- How did you find out it was built earlier?
Reply to
Jane

Difficult to say. I would not automatically assume the price should be lower or the value of the house is less.

I would suggest a local attorney, after you have done all your homework and have all the facts about building permits etc. It is a lot cheaper for you to do it than the attorney.

Reply to
Joseph Meehan

Hi Jane, Please see my answers below,

Yes I do, I was told that the seller knew about rebuilt, but her agent did not. I also was told that seller's agent is supposed to pull the records from cityhall.

It looks good enough and our inspector did not notice anything wrong with foundation.

Appraiser found inconsistentcy in tax papers and some other docs on the property he also found build permit. I am not sure what docs he found 'cause I've not seen he's report yet.

Please ask any questions You want, i need to clearfy this situation ASAP. Thanks Djavdet

Reply to
Djavdet

Get an expert to evaluate the foundation, ask the seller about the circumstances, and if you don't like the answers, YOU be the one to decide to tell the seller that they should have disclosed it. Or you can pay somebody to tell you that you can tell the seller the same thing. See what I mean?

-B

Reply to
B

Hi Andy,

I agree and that's why i am asking whether it's worth to escalte the issue or just drop it as pointless. But just looking at the ads in our area, some houses like 2002 "new construction" rebuilt on foundation of '68 cost about 20-30K less. I was wondering why builders would disclose the information about foundation, Is there a law forces them to do so?

I do not know, how would i found it out? I guess there should be some records about it, right? Djavet.

Reply to
Djavdet

Hi Chucky,

Before I found out about rebuilt problem , i was thinking it as a good deal. So why do you think it should be priced higher then brand new house?

It's not in PnS, we agreed on PnS and later on appraiser found the problem. What should I do? Thanks Djavdet.

Reply to
Djavdet

This is getting nuts.

Why would THIS foundation be any better if the house had NOT been rebuilt. What evidence is there that there is anything WRONG with it. The present house has been there how long????

At this point the Buyer needs to demonstrate that they will suffer some harm from the foundation being older. They need to show they were harmed by not finding this out earlier.

Okay so maybe they can get out of the contract if they squawk enough. But to me expecting to continue to buy but get a lower price is a little much. Who knows, maybe the Seller is highly motivated and would make a concession to save the sale. But maybe not.

I am not seeing a problem here. There *could* be one under some far-fetched scenario, but what is it besides speculation here.

-v.

Reply to
v

If the foundation has been around since 1969 and is still in good condition I'd prefer it over a newer, probably lower quality foundation.

Old doesn't always mean bad.

RB

Djavdet wrote:

Reply to
RB

Hi ,

What do you mean nuts?! As I already described all houses in our area are listed lower price and always described as rebuilt if they are rebuilt. And one of the thing I am trying to find out if it is possible to ask the seller step down a little... I bet if he listed the house as rebuilt the price would be lower.

Well, it's suspicios at the least, why the seller did not desclose it and even more suspicion why the house was rebuilt that early.

That's true, if the seller demonstrates that the house is clean of any problems and simply happened to be rebuilt on a bit older foundation yes I would not have any problems to buy it.

I still like the house, and if the seller shows all documents supporting he's words I'll buy the house, but from my experience, if people are hiding something at the first place, very offten they keep lieing to you to the end. I am just trying to avoid bigger problem if there is any....

Thanks for sharing your opinion anyway, it is always good to have more then one head :-)

Djavdet.

Reply to
Djavdet

Get an attorney! Unfortunately I learned the hard way. Never purchase a home without an attorney.

Brigitte

Reply to
Brigitte J.

I think the point is that if you have knowledge before the close of escrow, you can't complain later about lack of disclosure.

You may have grounds to back out of the deal and can use that to renegoitate a better price.

Or don't buy the house.

Buyer's remorse is common. But in this case, you can't blame the seller/seller's agent.

--Remove -NOSPAM- to contact me.

Reply to
John Keiser

And what kind of documents would those be?????

What are his words? His words are that it was rebuilt many years ago. So he comes up with a document that confirms that it was? If *you* are claiming there is a problem, then where are *your* docunents supporting your words?

You apparently want him to "prove" there is NOT a problem. But instead, can you PROVE that there *is*??? If you can't, why should he lower the price???

-v.

Reply to
v

Up here in Minnesota, I'd say a lot of the new basements are better than the old. Many of them are now poured concrete instead of blocks. The waterproofing seems to be better now. More drain tiling is required.

I'll have to say I have seen a few new homes with some pretty shoddy block work, but that seems to be the exception, not the norm.

Brian Elfert

Reply to
Brian Elfert

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