HOME BUYER DISCOVERS FRAUD 3 HOURS AFTER CLOSING
Yes you read that correctly. A home buyer discovered the seller had committed fraud and violations of the Texas Deceptive Trade Practices Act 3 hours after the closing. 3 Hours.
The home is a 30 year old property owned by one family since it was built. The seller checked ?No? on the Sellers? Disclosure Notice regarding foundation settlement and foundation repair. The home had not been updated since it was built, so the new owner/buyer immediately sent a crew in to remove the ancient carpet on the floors.
3 hours after closing the new buyer found that underneath that carpet were large manhole size concrete patches indicative of foundation repairs. Major foundation repairs. The home buyer contacted their own realtor who worked hard to diminish the reality of this discovery. The sellers? agent was contacted and reported back that the seller had no idea that the house had had major foundation repairs.
The two realtors offered up the implausible explanation that the builder did this BEFORE they sold the house. Implausible because builders don?t make major corrections before the sale. They are willing to wait and see if the buyers do anything. Also, the builder would have disclosed work of that magnitude to any buyer.
Did the home seller do this on purchase? What other explanation could there be? There was one home owner; there was major foundation repairs; and the owner actually replaced the carpet. Wonder what the neighbors know.