From Name
James McNees

In my state the seller must disclose if they know about it.  Just like with foundation problems or termite damage. 
The quirk here is the auction sale.  In my state, when it is sold on the court house steps it is "as is, where is." 
 
If the bank bought it at the auction, they could claim they do not know of the radon reading.
 
If the Realtor that was previously given a copy of the radon test results, later worked for the bank in disposing of the property, then (as I understand the rules in my state,) that Realtor could be held accountable for not disclosing the high radon concentrations.   
 
In my state the testing company isn't legally obligated to come forth with any information unless asked.    Jim McNeesAlabamaLife may not be the party we had hoped for, but while we are here, we might as well dance. --- On Mon, 8/15/11, Jay Bauder wrote:
From: Jay Bauder Subject: Re: [RNPROF] Ethics QuestionTo: RADONPROFESSIONALS@LIST.UIOWA.EDUDate: Monday, August 15, 2011, 9:35 PM
I think this falls under “Buyer Beware”.  You may actually have legal exposure if you say something.  Laws vary from state to state, so I would recommend consulting your attorney before you say anything.  As much as this situation sucks, a bank would crush you in court if you are on the wrong side of the law.
My 2 cents,
-Jay
 
From: International Web Resource for Radon Professionals [mailto:RADONPROFESSIONALS@LIST.UIOWA.EDU] On Behalf Of Jim MedleySent: Monday, August 15, 2011 7:59 PMTo: RADONPROFESSIONALS@LIST.UIOWA.EDUSubject: Re: [RNPROF] Ethics Question
 
Not for sure about that part of it,  It is my understanding that the bank demanded payment in full on the loan and the real estate company did not have the funds so that is when the bank foreclosed on the property and took the building.
 
Jim Medley
 
From: Michael Talotta [mailto:mttalotta@gmail.com] Sent: Monday, August 15, 2011 6:25 PMTo: Jim MedleySubject: Re: [RNPROF] Ethics Question
 
Hi Jim,
 
Was the Realtor involved in moving the forclosed property to the new owners?  If so, it is the Realtor's responsibility to disclose this information.  If the new owners found out that the Realtor new about the levels and was involved in the transaction, he or she could face losing their license to sell. 
 
Regards,
 
Mike 
On Mon, Aug 15, 2011 at 7:10 PM, Jim Medley wrote:
To All:
 
Ran across a unique situation today that kind of creates a ethics question.  We ran 2 separate CRM radon test for a real estate firm here locally – ( at their main office ), it is kind of hard to explain but it was a newer building that was separated into two separate buildings with one common roof.  Each CRM test showed a reading of around 14.0 pCi/L .  The broker said to me that he did not have the funds available to mitigate the property at the time ( this happened a few months ago ) and that he would get back with me in the near future.
 
Move forward a couple of months and I am at the property next door and the owner states to me that the building was foreclosed upon by the bank last month and sold to a CPA firm that has moved there business and all off their employees into.   Through things not mentioned here I know that the bank and the new owners are unaware of the situation.  The broker ( who lost a lot due to the situation ) is in no mood to go say…..ooh yea….by the way….this building has high radon ……anyway, just wondering what …if anything….we should do about this.
 
Normally I would not get involved but since it ( the property ) went through a third party ( the bank ) then I kind of feel like I have a obligation to inform the new tenants of the situation, whether either this is a moral or legal obligation I do not know.  Mainly just feel like it is the right thing to do.  I sure would want someone to tell me,  Also…I do not know but is it something that could come back on me and my company,  is it possible that I have a legal obligation here ?  Like I have said before…any thoughts are appreciated !
 
 
Jim Medley
 
Radon systems 4U LLC
 
 
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-- Michael Talotta
Northern Vista Home Inspection 
Radon Measurement & Mitigation Provider
77 Webster Street
St John sbury , VT   05819
802-745-7020
www.nvhomeinspect.com
 
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