What to do if the seller never told me about possible mold due to a flooded basement?

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What to do if the seller never told me about possible mold due to a flooded basement?

I never knew that the home was once scheduled for demolishment. I now notice some things that were covered up that have come to light. I’ve suffered some properrty loss. What are any legal rights I may have?

Asked on January 21, 2013 under Real Estate Law, Michigan

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

I am very concerned for you and I think that you should speak with an attorney as soon as you can. I do not think you used an attorney in the purchase, correct?  Did you have a home inspection prior to purchase?  Was their covering things up a material misrepresentation?  The general rule is that once you close you are stuck with things so please go and speak with some one.  Good luck.

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

Given the fact that the seller of the property seemingly concealed material facts about the property affecting desirability or price paid to you before close of escrow, you should consult with a real estate attorney as to what your legal recourse is.

For example, you might consider cancelling the sale and getting your money back, or keeping the property and suing for the lesser of costs of repair or diminution in value at close of escrow if the facts warrant such after review by a licensed contractor to ascertain scope of the problem and the costs of repair.


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