Question:
While on leave from
the military, we bought a home that was totally misrepresented. According to
the listing, it was a 2300 square foot, four-bedroom, lake view house. During
the escrow, we read the tax documents and discovered that the home is actually
2000 square feet with only three bedrooms. We also learned that the fourth
bedroom is an unpermitted addition and the “lake” is a retention pond. When we
tried to cancel the sale, the seller threatened to keep our deposit and take us
to court. We consulted an attorney, but he said he couldn’t do anything in this
case. So we closed and now owe more than the current appraisal value of
the property. What can we do?
Answer:
It is very disappointing
to know that you closed on the property. Once you learned that the listing
details were false, you had every right to cancel the sale. They had no basis
for their claim because they were guilty of fraudulent misrepresentation and
violation of seller disclosure laws. The same culpability applies to the
listing agent, who should have known better. Furthermore, anyone who would
abuse members of our military in this way can add “scum-bag” to their other
reprehensible attributes.
The fact that your
attorney did not advise you not to buy the property is actually astonishing.
It’s hard to image someone with a law degree being so bereft of common sense.
At this point, you need some better advice from a more reliable real estate
attorney.
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