What can be done about a home purchasedif theprevious owners did not disclose major water damage before closing?
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What can be done about a home purchasedif theprevious owners did not disclose major water damage before closing?
Asked on November 15, 2011 under Real Estate Law, Florida
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 13 years ago | Contributor
You may have grounds to sue them for the cost of remediating or repairing this damage. A failure to disclose major water damage could be a violation of your state's laws regarding disclosure in real estate transactions; it may also constitute fraud, or the knowing misrepresentation of a material (important) fact. In eithe case, it could provide grounds to sue and seek compensation. Note, nowever, that if the previous homeowners were themselves unaware of the damage, they would most likely not be liable--liability depends on the withholding or mistatement of information of which they are aware. From what you write, you should disuss the matter with an attorney in detail to explore your rights. Good luck.
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