Legal Question in Real Estate Law in Nebraska
Seller's Disclosure Document
Before the closing date we found out that the sellers had lied on 2 points: there being no protective covenants (we gave time for sellers to try to remove covenants) and no flooding problems. Half the acreage is floodprone, shortly to be classed as floodplain. We didn't close. Do we have any recourse? Should we be getting our earnest money back? and expenses incurred paid by the sellers for not being truthful on the discosure document? If we had closed we would now have a property we didn't want.
1 Answer from Attorneys
Re: Seller's Disclosure Document
From the facts you have provided, your earnest money deposit should be refunded. There may be other facts involved here which could alter your right to a refund. If the Realtor fails to obtain a refund check for you within a reasonable amount of time, you will need to contact a lawyer. Realtors sometimes like to hold those funds for awhile in hopes they can get you to commit to another listing.
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