"MiamiCuse" wrote in
:

We all heard of Chinese drywalls and their issues.

Recently I saw two properties in south Florida being listed for sale
and they have this "CHINESE DRYWALL DISCLAIMER" with them. Being sold
at a substantially lower price - but market is in the tank anyways
with so many foreclosures.

My understanding is besides sheetrock replacement, you might also have
to replace all copper piping and possibly electrical wiring?

What is your opinion or rehabbing Chinese drywall houses? I know
there are many threads already on their issues and problems, but this
thread is about potentially rehabing one. Will you do it or stay away
from it? Will you not consider it at any price?

There is also safety hazard issues for the rehab workers while on the
premises.

Thanks in advance,

MC



You're looking for trouble IF you buy it KNOWING it has the issue...and
will find it long term.

Apparently the realtors association in their relentless pursuit to cover
their ass came up with this. It seems to be just like the standard lead
paint addendum.

Let's say you buy and redo the place. Do you have to disclose that it
once was CD? If so, as a buyer I would not even consider the place. It
would be asking for trouble. How would I know it's been completely and
properly done? Do I want to open myself up to such a fiasco? Then does
that mean if I sell it I have to disclose it as well? Charming for
marketability. Unless I too were to sell it as-is, I'm subject to
law$uits. And if I sell it as-is we're talking deep discount.


So uh which box will they be checking?
http://www.sarasotarealtors.com/file...9042813312.pdf

Let's say you check box 3 when you sell since you pulled out all of the
drywall. OK, that would be honest. My guess is you would still be on the
hook. Stuff is still rotting away even though the drywall is gone. All
this could be argued on here and in courtrooms. That's my point. Why
expose yourself to it? Personally, as a buyer, I'd like to see a 4th box
that says whether the seller knows of any past issues, corrected or not.



Seller's Disclosure (check one):

- Chinese or defective drywall is present in the house, and Seller has
provided Buyer with all available records and reports relating to
Chinese or defective drywall in the Property as follows:

- Chinese or defective drywall is present in the house, and Seller has
no reports or records pertaining to Chinese or defective drywall in the
Property; or

- Seller has no knowledge of the existence of Chinese or defective
drywall in the Property.