None of these are secrets. Every one is disclosed — that's the legal requirement. The game is that disclosure and legibility are different things: the material fact is present, phrased gently, and located where a tired reader gives up. Here's where to look.
1. “Further inspection recommended” in the pest report
$10k–$80k+Hides in: Pest report, Section 2 or notes
The single most expensive sentence in most packages. It means the inspector saw something structural (subarea, foundation, drainage) outside their scope and nobody has priced it. Unquoted risk is yours.
2. The same system “repaired” more than once
$2k–$15kHides in: SPQ / TDS cross-reference
A water heater repaired in 2019 and again in 2023 is a replacement wearing a repair history. Same logic for roofs, furnaces, and sewer lines.
3. Active HOA litigation
Financing risk + assessmentsHides in: HOA docs, deep
Construction-defect suits can make units temporarily unfinanceable with some lenders and usually end in special assessments either way.
4. Reserve fund below ~10% funded
Special assessment riskHides in: HOA reserve study
A badly underfunded reserve plus an aging roof/elevator is a special assessment with a date TBD. The budget tells you; the minutes confirm the mood.
5. Unpermitted additions or conversions
$5k–$100k+ or unwindHides in: TDS vs. permit history
That fourth “bedroom” may not appraise, may not be insurable, and may need to be legalized or removed. Check square footage claims against county records.
6. Sewer lateral non-compliance
$5k–$25kHides in: City point-of-sale requirements
Multiple East Bay and Peninsula cities require a compliant lateral at transfer. Disclosed requirement ≠ priced requirement.
7. High fire-severity zone without an insurance quote
Deal-killerHides in: NHD statement
The disclosure tells you the zone; it doesn't tell you whether anyone will write a policy at a price your lender accepts. Get a real quote before waiving anything.
8. Drainage language anywhere
$5k–$50kHides in: Inspection, pest report, TDS
“Ponding,” “moisture in crawlspace,” “efflorescence,” “negative grade.” Water is the patient enemy of every foundation. Small words, big invoices.
9. Knob-and-tube or aluminum branch wiring
$8k–$30k + insurabilityHides in: Home inspection
Some insurers surcharge or decline. Rewiring an occupied house costs more than the line item suggests.
10. Galvanized supply or Orangeburg sewer pipe
$5k–$30kHides in: Inspection / sewer scope
End-of-life plumbing materials common in pre-1970s Bay Area stock. If there's no sewer scope in the package, that absence is information.
11. A suspiciously thin pre-inspection
Unknown — that's the pointHides in: The package as a whole
Sellers choose what to include. A 1,400 sqft 1950s house with a 9-page inspection report wasn't inspected; it was marketed.
12. Neighbor disputes and noise disclosures
Quality of life / resaleHides in: SPQ, sometimes TDS
Sellers disclose disputes because they must — in the vaguest legal language available. “Occasional noise from adjacent property” deserves a follow-up question, and an evening visit.
Cost ranges are honest ranges, not quotes
How to use this list
- Read the package in triage order — pest report, TDS, SPQ, HOA minutes. (Full method: see the guide below.)
- Turn every flag into a number: a bid, an insurance quote, or an explicit accepted risk.
- Price the offer off the sum, and decide contingencies off the uncertainty that remains.
Have a disclosure package in hand?
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Not legal or tax advice. Analyses are decision support; a licensed agent reviews anything with legal weight.