Year house was built?
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Year house was built?
Just closed on a house and found out its 8
years older then the paper work says and they
won’t return my calls
Asked on August 8, 2016 under Real Estate Law, Maine
Answers:
S.L,. Member, California Bar / FreeAdvice Contributing Attorney
Answered 8 years ago | Contributor
You can sue the seller for fraud. Fraud is the intentional misrepresentation of a material fact made with knowledge of its falsity and with the intent to induce your reliance upon which you justifiably relied to your detriment.
In other words, you would not have bought the house had you known it was eight years old.
Your damages (monetary compensation for fraud) would be either benefit of the bargain or out of pocket loss.
Benefit of the bargain allows a defrauded purchaser to recover the difference between the real and represented value of the property purchased regardless of the fact that the actual loss suffered may have been less.
Out of pocket determination for damages for fraudulent misrepresentation permits recovery of the difference between the price paid and the actual value of the property acquired.
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