I Thought They Said This Worked?

You are a home buyer. You bought the house, started turning it into your home and to celebrate invited over some guests for a nice dip in the hot tub. While you are fixing guacamole, your husband is turning on the hot tub. In less than one hour everyone will be here dressed in their swimming attire. Only problem is your husband just announced the hot tub doesn't work. 

On Monday the repairman shows only to hand you a bill for $1,700.00 to fix the internal parts that had been poorly maintained. You've owned the home for less than two weeks. 

What do you do?

Do you:

1. Pay the bill?
2. Call your agent?
3. Reread the sellers’ disclosure statement?
4. Send the disclosure statement over to your agent to present to the sellers?
5. Start a file for the other problems that may soon show up?

Actually you do all of the above and if no one wants to get out their checkbook, you end up calling a lawyer. That sellers’ disclosure statement is key to deciding who will pay the hot tub repair invoice. So pay attention to what is said in the Iowa Residential Real Estate Disclosure Form. And do so before you purchase a new home.