What is a purchaser’s recourse for incorrect information provided on the MLS?

UPDATED: Oct 16, 2011

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What is a purchaser’s recourse for incorrect information provided on the MLS?

I am in process of purchasing a single family home. After attorney review completed during home inspection and valuation we found out that the flooring which was listed as Brazilian cherry hardwood is simply a laminated wood floor. Given the misrepresentation of information on the MLS listing by the seller’s agent, do I have the right to get out of the deal and get all my deposit back? Also, can I press charges against seller’s estate agent for false representation?

Asked on October 16, 2011 under Real Estate Law, New Jersey


FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 11 years ago | Contributor

In California a statement by the listing agent or brokerage in the MLS if false can be deemed actionable if the buyer relies upon the statement. Potentially this may be the case under New Jersey law.

If you have not closed escrow on the home that you are writing about and know that the flooring is not what it is represented to be, you have not yet been damaged yet. You have the possibility of refusing to close escrow on the property because of this. However, the key issue is what is the difference in value of the home that you are in contract with with the laminated wood floor and if it had the Brazilian cherry hardwood floor?

Your recourse at this time would be to try and negotiate the price of the home downward based upon this information you have discovered before close of escrow if you want to purchase it. I recommend that you speak further on the subject with the attorney who reviewed the documentation regarding the home.

Good luck.

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.

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