disclosure commercial property leak around roof mounted furnace repaired and not leaked for more than a year?

When selling commercial property, is disclosure of previous roof leak which has been repaired and not leaked for more than a year required?
In Selling Property - Asked by Andrea W. - Oct 4, 2014
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Answer(s)

David V.
Broker/Agent
Springfield, VA

No, any adverse material defect that has been fixed does not have to be disclosed.

Oct 6, 2014
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Scott R.
Broker/Agent
Laguna Hills, CA

It may not be that you have to disclose, but it would be a CYA for you AND your seller if you did and the roof starts leaking again a month after the deal closes. It is real easy to say, "We had a roof leak in the corner a year ago, but it has been repaired and has not leaked again since." It is hard to say, "Oh, uh, yeah. We had a leak a year ago, but it was repaired! How was I supposed to know it would leak again."

Oct 17, 2014
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Tarry C.
Broker/Agent
Hendersonville, NC

When grey, shed light. Disclose in a positive manner showing repairs of any known defects and the sellers track record of keeping their building well maintained. Should you have the receipts, publish them as they show investments into the property.

Dec 4, 2014
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Francis L.
Broker/Agent
Santa Clarita, CA

I would advise my client to disclose it. If it was repaired provide a copy of the paperwork and the receipt, including any warranty info from the roofer. Non-disclosure can cause unwanted problems in the future.

Dec 4, 2014
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