Legal Question in Real Estate Law in Maine

Commercial Real Estate

a commercial deal recently fell apart based on the property condition. The fact that I went as far as I did was based on errors/misstatements/wrong assumptions in the seller's disclosure regarding the specific components that failed inspection. Additionally, the brokers listing said the place had 20% more land/road frontage than it actually does. Is there a way to recover my expenses, including attorney fees, as a result of these errors and misrepresentations?


Asked on 3/23/07, 7:14 am

1 Answer from Attorneys
Jerome Gamache Ainsworth Thelin & Raftice, P.A.

Re: Commercial Real Estate

There is no particularly efficient way to recover the money you put into following the contract along as far as you did. Your legal fees in pursuing the money you already spent are not likely recoverable, so it is diminishing returns. If the amount is under $4,500 you could file a small claims action on your own if you feel that you have a strong claim. I suspect that the systems on the property were disclosed in some fashion "as is", or unknown, etc. and it will be difficult to prove intentional misrepresentation. You could also review the P&S, if it is a form that the Maine Realtors commonly use, it may provide for mediation/arbitration in front of the Maine Realtors Commission.

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Answered on 3/23/07, 8:19 am


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