I have an issue with real estate that I just purchaesed and false advertising?
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I have an issue with real estate that I just purchaesed and false advertising?
I purchased a home with a Veterans Affaris (VA) Loan 4 months ago. The property was advertised as having a city sewage connection. We just found out that the property has septic system which hasn’t been emptied in a few years. The city sent us a certified letter last week which sparked this inquiry and lead us to find indeed there is no city connection. The certified letter informed us that they extended the sanitary sewer to my property line and that I have 5 years to connect my residence. I located the metal cap with a W on it and dug 4 feet deep to find that there is no connection.
Asked on June 6, 2012 under Real Estate Law, Virginia
Answers:
S.L,. Member, California Bar / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
You could 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 relied on the seller's misrepresentation that the property had a sewer connection instead of a septic tank and would not have purchased the property had you known the true facts.
Your damages (monetary compensation you are seeking in your lawsuit for fraud) would be either the benefit of the bargain or your out of pocket loss.
Benefit of the bargain means a defrauded purchaser may recover the difference between the real and represented value of the property purchased regardless of the fact that your actual loss might have been less.
Out of pocket damages for fraudulent misrepresentation allows recovery of the difference between the price paid and the actual value of the property acquired.
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