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I am being sued by the buyers of my former home. Sold the…

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I am being sued by...
I am being sued by the buyers of my former home. Sold the home 14 months ago. We disclosed information on a leaking basement under a kitchen addition. It was also noted on the home inspection report by the buyers inspector. We also lowered the price of the house due to information obtained from a basement repair contractor early into selling our home while on the market. We stated to the buyers that there is some water that leaks in, normally 1 to 2 inches during a hard rain but we have seen more. No contact was made at that time to any structural engineers or others. When the winter broke and rain started more frequently in the early spring months, they contacted several basement repairs. One of them were the ones we called. They made reference to coming out a year earlier and giving us a quote of $5700 to install a sump pump. They also shared pictures of 5 inches of water in the portion of the basement I am referring to. My real estate agent has spoken to the buyers numerous times that we disclosed the leaking basement but they have now contacted a lawyer and are suing us for the repair and they have the option to rescind on the home contract. Can they legally hold me accountable if we disclosed in these words on the repair contract, " there is some leakage of water into the portion under the kitchen and after a few days the water drains or evaporates out." My real estate agent who served both; us as the selling agent and the buyers agent as well has told me countless times that she remembers telling them in person 1 to 2 inches and on rare occassions its more. Do i have anything to worry about?
Submitted: 2 years ago.Category: Real Estate Law
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Answered in 5 minutes by:
10/18/2015
Real Estate Lawyer: Richard, Lawyer replied 2 years ago
Richard
Richard, Lawyer
Category: Real Estate Law
Satisfied Customers: 57,033
Experience: 32 years of experience as lawyer in Texas. I'm also a Real Estate developer.
Verified

Good afternoon. My name is ***** ***** I look forward to helping you.

Although you can never prevent someone from suing you, based on your narrative, your buyer will not prevail in this suit. As you mention, this is all a matter of disclosure As a seller, you are obligated to disclose anything the seller knows or
should have known that a reasonable buyer would consider material in making the decision whether or not to buy the property. You did that and the buyer had adequate notice. As a seller, you aren't making warranties regarding your property. The buyer clearly had notice and if it was something that the buyer was concerned enough about, the buyer should have investigated it further and/or terminated the contract. But, the buyer did not, and instead purchased the house. It's now the buyer's problem, not yours.

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