Legal Question in Real Estate Law in California
real estate
I recently purchased a home that was listed as a residential duplex with income. At some point the listing agent disclosed that it was actually a single residence. This disclosure was passed on to me with 38 other docs, with no mention of it or its legal consequences (which I did sign). Was my realtor bound by law to highlight and explain this disclosure to me? Later on she had only said it is a common old house zoning thing and nothing to worry about. That it was in fact a duplex, definitely a duplex. We have come to find out what it truly means and are looking at having to revert it to a single, or pay thousands to make it a legal duplex. Do we have any legal recourse? Thank you.
2 Answers from Attorneys
Re: real estate
If a real estate agent or a seller misrepresent the zoning status of a parcel of land, they can be sued for intentional misrepresentation (fraud.)
The issue here, which I believe triggered Ms. Deming's response, is when you received the disclosure, and whether you were aware that the property was not a duplex when you purchased it. If you were aware of problems before hand, and continued with the sale, you purchased the property knowingly and cannot find fault with the real estate agent or the seller.
I believe that your posted a reply to Ms. Deming directly to the board in a later e-mail. If you wish to contact an attorney directly, use the attorney contact information to send that attorney a direct e-mail.
Very truly yours,
Re: real estate
You got your disclosure. If you did not understand aspects of the transaction, you were put on notice to investigate further, ask questions of the city, etc. A sophisticated investor would have done his homework; a novice investor knows he is in over his head and must find out all that he can about a property. It sounds to me as though you were simply careless and lazy about looking out for your own interests, which is not the agent's or seller's fault; ultimately, you are responsible for your own investments as no one held a gun to your head.