Real Estate Agent Sued because Building Owner Failed to Disclose Water problem

In a recent case one of our insureds was sued because a building owner failed to disclose that there had been a water leak in the basement of a commercial building. The problem was not discovered for 8 years until the new owner went to sell the building and mold was discovered. Although, the agent had no knowledge of the matter, the agent was sued for failure to dislose. The matter was eventually settled out of court.

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