If the seller knew that their basement leaked but failed to disclose this to me, what is my recourse?

Get Legal Help Today

Compare Quotes From Top Companies and Save

secured lock Secured with SHA-256 Encryption

If the seller knew that their basement leaked but failed to disclose this to me, what is my recourse?

Also, the disclosure statement did not list it.

Asked on July 16, 2017 under Real Estate Law, Alaska

Answers:

M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney

Answered 6 years ago | Contributor

You can sue the seller. Your cause of action would be for fraud, which is the intentional ommission or misrepresentation of a material fact knowingly made with the intent to induce another to rely upon it to their detriment. So in your case, you would not have purchased the house had you known of the basement leak. Your "damages", that is the the monetary compensation you are seeking, would be either the "benefit of the bargain", specifically, what the house should have cost with the defect (i.e. the leaks) or your out of pocket loss. At this point, you should consult directly with a real estate lawyer in your area. After reviewing the details of your case, they can best advise you further.


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 AttorneyPages.com 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