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I purchased home 14 months ago, have just discovered large crack going all the way across one wall in basement. The wall will have to be removed and replaced. Cost $40-50k. Can I go back to seller for non disclosure? This has been a problem for a long time and wall was covered with paneling. Paid $230k for house.
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N.P. Weiss Law
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It's going to depend whether 1) you had an "as is" clause in your contract, 2) whether you had a home inspection as part of your purchase agreement and 3) whether the crack was something a home inspector could have found. If there was an "as is" clause, you cannot recover for simple non disclosure, there has to be actual fraud. If you had a home inspection, and they should have found it, then you can't recover. The only way you could recover is if you had a home inspection and the inspector COULDN'T have discovered it with an ordinary inspection.
The biggest issue, however, is whether the seller is collectible. If they don't have enough money to compensate you, then this is a moot issue.
Answered on Aug 24th, 2020 at 12:53 PM