Buying or Selling a Home/Disclosure Horror

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Question
Hello,
My husband and I have been in a lack of disclosure horror story.  The house we purchesed is 5 years old and has a sump pump.  We continually quizzed the former owners about this pump and the basement, and were told it was "completely dry" and that they "had never had a drop of water", and "the sump pump only went off twice in the whole 5 years".  We moved in in the worst rain storm of the century.  The sump pump never stopped running and it hasn't since.  It's been four months.  We have had two major floods since and have found that the former owners had water problems and floods from the very beginning.  Our loss to the first flood was substantial as we had just moved in and stored everything in the basement.  To make a long story short, we have found that there is a constant source of water under the house.  It will be very costly to insure that the basement be dry, which is why we purchased the house to begin with, and the sellers knew that.  To complicate the matter, the seller was also the realtor involved and never divuldged any water defect to our representing agent.
We are still dealing with the first flood, not to mention the second and I will now see my house torn apart to fix something that was clearly concealed.
The pump was turned off when we were there and we were constantly assured that the basement was dry. The neighbors revealed there had been at least two major floods that they knew of and always a "lake in the driveway".  We are now pumping 3 times what we use in three months! To make matters worse there is no where to pump the water.  That part of the fix will require our yard to be dug up also.  I'm floored.  They lied to our faces.  Do we have any recourse?  We can't wait on the "fix" and are now in the process of getting things done.  Any information is appreciated.
Thank you.


Answer
The fact that the seller was a Realtor should help you substantially, Gellia. You first have to establish your loss so far and then sit down and consult with a REAL ESTATE attorney. Chances are that attorney will suggest you have the seller reverse the sale and give you back your money plus any costs since then.

A Realtor should know better. In fact, his license could be in jeopardy in this matter.

Get that local REAL ESTATE attorney right away!

I wish you well.

Dick Dennis
dixiedee13@aol.com

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.

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Solving real estate problems for 37 years.

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National Association of Realtors

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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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