my wife & I bought our home in '06. During the whole process of buying our house a lot of shady stuff was done by agent such as: the agent telling us not to communicate with the seller because I knew her, sayin that (even though the house was old) we could have the house inspected but it wasn't nessecary, & to top it off we student loan that we were told needed to be paid off before closing & closing was two weeks a way. I didnt have the money so we just weren't going to buy, but my agent told us the seller had already put a down payment on her new home & that possibly if we didnt go ahead & buy that the seller could sue us. My agent then told us she would give us the money.($2400 that we had to paid back in $400 incrimintes) So after a few days of thought we accepted.(Now a yr later we find out that my foundation was in horrible shape & will cost $27000 to fix. The seller said nothing was wrong with the foundation in the contract but u can see where work was done. What am i 2 do?
2007-12-30 08:53:39 · 5 answers · asked by Joshua B 1 in Business & Finance ➔ Renting & Real Estate
Also the common sense,any foundation can't be ruined in a such short period of time and you can accuse the agent for being a crook hiding the truth to you about the foundation,he can be sued for malpractice,loose his license and pay all the damages induced by that,including the moral one,he's the only one you have to put the blame on,you are an honest man and as all the honest man you consider all the other honest,with a good lawyer you'll get enough money to buy even a fresh new and better house.
2007-12-30 09:30:22 · answer #1 · answered by Paul Alexandru Cazacliu 3 · 0⤊ 0⤋
if your purchase agreement says in writing that the foundation is in good shape, you have a lawsuit against the seller.
If it doesn't say it in writing, state/provincial law controls whether you have a viable suit against the seller, the agent, or no one at all. arguing against a suit is that "you can see where work was done" and you had the opportunity to inspect the property -- a smart defense lawyer argues that, therefore, you saw the evidence of foundation work and bought the property as is.
RE agents, in most states, are permitted to make just about whatever sales pitch they wish -- since the sale contract has a clause in it that clearly states that only the written contract is what can be enforced.
google will find the laws for your state/province
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i assume you were first time buyers. you made several errors an experienced buyer would not make.
the now "usual" deal in America is that the buyer hires an inspection firm at his expense and writes his offer subject to the results of the inspection. Then the seller buys the first year of a home warranty contract from the inspection firm at Seller's expense.
who told you that you "need" to pay off your student loan? the mortgage broker? what did you get by doing this?
did you disclose the 2400 that you borrowed to pay it off on the mortgage firm's forms? failing to do so is, arguably, mortgage fraud, -- you are required to disclose all of your debts of every description no matter who it is owed to.
GL to you -- and you may have just had a learning experience at your expense
2007-12-30 17:10:58 · answer #2 · answered by Spock (rhp) 7 · 0⤊ 0⤋
The next time you buy a house, have it inspected, no matter what any realtor tells you. I'm not sure that you will win a case against this seller. You didn't have it inspected.
2007-12-30 17:10:55 · answer #3 · answered by hottotrot1_usa 7 · 1⤊ 0⤋
Joshua, you should consult with a Real Estate Attorney. We can not possibly advise on what course to take.
2007-12-30 17:14:29 · answer #4 · answered by Alterfemego 7 · 0⤊ 0⤋
i would contact a lawyer and explain that not all damages were disclosed to you at the time of purchase
2007-12-30 17:02:54 · answer #5 · answered by lookinforsanity 2 · 2⤊ 0⤋