QUESTION
I'm closing on the 9th and the seller lied about the roof on the disclosure. What do i do?
Asked on Apr 07th, 2015 on Real Estate - Oklahoma
More details to this question:
The seller disclosed the roof was replaced in 2013 when asked for sales receipt to give to my ins. he said oh I didn't have the roof replaced. However my ins. agent pulled the property details and there actually was a claim for total loss on the house in 2013 the home owner just never followed through. Now the home owner is saying he only got partial payment on the roof and isn't willing to replace the whole roof. What are my rights? What can I do? Do I just walk away? I've sold my house and have no place to live as we close on our home on the 9th as well.
1 ANSWER
This is a real mess. No, do not close the sale or you may be stuck with a house that is worth much less than your appraisal until the roof is replaced. You should demand a sale price reduction sufficient to cover the cost of the new roof if you will have to replace it post closing. Also, you may not be able to get insurance unless you have contracted to replace the roof.
If you have already closed on the purchase, you may be able to sue the seller for breach of contract, but that will depend on the terms of your contract and what was actually disclosed to you prior to the closing.
Thanks,
Brian
Answered on Apr 16th, 2015 at 3:08 AM