can I get money back and get rid of my note

UPDATED: Oct 1, 2022

Advertiser Disclosure

It’s all about you. We want to help you make the right legal decisions.

We strive to help you make confident insurance and legal decisions. Finding trusted and reliable insurance quotes and legal advice should be easy. This doesn’t influence our content. Our opinions are our own.

UPDATED: Oct 1, 2022Fact Checked

Get Legal Help Today

Compare Quotes From Top Companies and Save

secured lock Secured with SHA-256 Encryption

can I get money back and get rid of my note

I purchased 4 houses on a plot of land in west asheville last year. I was from out of town, so I used the inspector my real estate agent suggested. When I hired a contractor to start remodeling I was told that the house is a loss. Infact it’s not a house, it’s 3 sheds with a fancy roof. It only has slats in the walls instead of 2x4s and has no foundation. The entire back wall is bowed out and ready to fall. Later the inspector told me he didn’t look at the back of the house because of brush and he said he didn’t look in the attic which would have revealed the issue because there was a wasp nest. He never mentioned these things on his report so I thought the house was fine and I bought it. Now I have a 90,000. home that needs to be demolished. The seller sold AS IS.Help

Asked on November 26, 2018 under Real Estate Law, North Carolina


SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 4 years ago | Contributor

You can't get out of the note, because the note is between you and the bank/lender, not you and the inspector: since the bank/lender did nothing wrong, the contractor's failure has no effect on them or on the validity/enforceabiltiy of the note.
You can sue the inspector, and if you can show, as you may well be able to, based on what you write, that he didn't even look at parts of the house before issuing his report and ignored obvious and visible significant issues (like it not being a house--just "3 sheds with a fancy roof"), you can potentially recover monetary compensation, such as the demolition and re-building cost. It's certainly worth discussing this with a local attorney, who can review the facts in more detail with you and advise you as to your options, potential recovery, and strength of case.

IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

secured lock Secured with SHA-256 Encryption