Legal Question in Real Estate Law in Indiana
Failure of Disclosure
Sellers real estate sales disclosure. Sellers failed to disclose the fact. The house had mosture & mold in the attic and even under the house with severe damage. Sellers refuse to correct problem. Please advise me, does this constitute a lawsuit.
Thank You!
1 Answer from Attorneys
Re: Failure of Disclosure
The buyer has the right to bring a lawsuit for either rescission or for damages against the seller. The disclosure statute has been interpreted to only require the seller disclose or merely state that he does not know. It is the failure to say either thing that places liability on the seller. However, your measure of damages might not be the cost of repair, it might be the amount by which the value is diminished by the condition. The house should be appraised in an as is condition, as well as repair estimates being obtained before you go to an attorney. This also needs to be done within 6 years of purchasing the home.
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