Legal Question in Real Estate Law in Indiana

Hello, We are in the process of refinancing our home to a 15 year fixed rate. Home was purchased in 2013. Our purchase offer was based on Appraisal coming back at a higher amount than our offer. Which it did, but on inaccurate information from Appraiser. The appraiser measured our property: Main level: 1824 Sqft, Basement: 1824 Sqft. Our refinance appraisal in 2016 measures Main: 1166sqft, Basement: 1166sqft. There is a detrimental difference in square footage. Based on the purchasing appraisal we overpaid by large margins. Do we have a case? with who? Difference of 658sqft.

Thank you


Asked on 4/09/16, 12:18 pm

1 Answer from Attorneys
Kenneth Wilk Rubino Ruman Crosmer & Polen

It might not make any difference. You can obtain a new appraisal and an opinion as to what the price should have been. But thee might not be a huge difference in the price. Your time to sue may also have elapsed. But for peace of mind, you should consult with a real estate attorney.

Read more
Answered on 4/10/16, 5:23 pm


Related Questions & Answers

More Real Estate and Real Property questions and answers in Indiana