Real Estate Law
Have Real Estate Law Questions? Ask a Real Estate Lawyer.
Hi and welcome to JA. Ray here to help you today.Please bear with me a few moments while I review your question, conduct and prepare your response.
You would have grounds to terminate the sales contract.Unless the contract states seller has to pay here then seller has no liability to pay for the test.The seller here will have to disclose it to future buyers or remediate it.You can see if seller will remediate if you want to go forward or terminate and get your earnest money back.
But seller not obligated to pay for test unless the contract requires it.The terms of the contract set out rights and obligations pf the parties here in Indiana.
I appreciate the chance to help you today.Thanks
If you can positive rate 5 stars it is much appreciated.
Yes either mitigate the house and retest or you have right to terminate .Arguably the house is unsafe and unsalable otherwise and they would have to disclose it to future buyers.
ndiana’s Residential Real Estate Disclosure Law, Ind. Code §32-21-5-2 requires sellers of residential property to complete a standard form. The Residential Real Estate Sales Disclosure form is available online at the State Forms Center (enter form number 46234 in the search box or search for the form by name). You should also be able to request a copy from your county recorder. Real estate agents and real estate attorneys also have the form easily available.
Using this form, sellers need to tell potential buyers about material defects in the house structure and major systems, as well as any defects in the included appliances, that the seller knows about. Notice what this leaves out, namely any defects that the seller does not know about — an important distinction, because it means sellers don’t have to actually test or investigate for problems.
Once notified there is a problem they hqve to disclose and deal with it or you can terminate sale.Seller should pay for retest.