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Buying or Selling a Home/home sale disclosure fraud

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Question
on the disclosure it said there were known water problems but since we have been in the house there is ground water in the house in a few places the neighbor said that the old owner used to pump water out of the house often what can i do that the home sale disclosure did not say a word

Answer
Based on what you disclosed to me the owner DID say there were known water problems. But he didn't say to what degree. At that point if I was the buyer I would have instructed my property inspector to focus on that problem thus protecting me from any costs regarding the "water problems." You would have to prove to what degree the former buyer committed fraud. You'll have to force the former owner to reimburse you with a threat of suit for fraud. If you did not hire a property inspector, then you have shown you were partly responsible.

It would seem to me that your next step is to hire a REAL ESTATE attorney and have the former owner reimburse you. But the attorney is going to tell you that you must know how much you are going to sue for. That means you actually must spend the money to fix it up. THAT is the amount you will have to sue for. If it turns out for less than $7,500 (or $5,000 in some states), then you would have to take the matter to a small claims court.

I do wish you well.

Dick Dennis

Buying or Selling a Home

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Dick Dennis

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With more than 41 years as a real estate broker, I can solve most any problem presented. If I can`t, I do my research. Problems with mortgages, trust deeds, foreclosures, odd ways of conveying titles. Most any good Realtor can answer questions satisfactorily, but I answer questions that most cannot. Also, ask about my hard-copy newsletter, The Landed Gentry. It can also be sent to you via PDF.

Experience

Solving real estate problems for 37 years.

Organizations
National Association of Realtors

Publications
Publishes The Landed Gentry, guest writer in Who's Who in Creative Real Estate, First Tuesday, Financial Freedom and many newspapers

Education/Credentials
e-Pro Realtor, Certified Distressed Property Expert, Who's Who in Creative Real Estate

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