Within a short time after buying our home, the heating system failed. It will cost several thousand dollars to replace. The seller wrote "don't know" on the disclosure form, and the home inspector said the system was working fine. Do we have any recourse?
Some real estate companies offer home warranty policies that will cover buyers for losses occurring to appliances and home systems soon after closing. These policies may be paid for by either the seller (to sweeten the deal) or the buyer. Check to see if you had such a policy issued to you at closing.
If you do not have this warranty coverage, you will need to look at many factors to determine whom, if anyone, might be liable. Did the seller live in the house? Did the seller answer many questions on the disclosure form with "don't know"? If the seller truly did not know of the problem, that is okay, but he cannot hide behind stated ignorance if he did not know of the condition. Was the inspector knowledgeable? did he have you sign a contract that strictly limited his damages? If so, courts are not likely to overturn this limit. A real estate attorney well versed in disclosure issues can help determine if you have any grounds for recovery.
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