Legal Question in Real Estate Law in New York

Seller Lied About Rent Roll/What are m options?

I purchased a 2 family, one of which was rented and the other formerly occupied by the owner. The rent was listed and included on the contract at 1,100 which was a main factor in purchasing and getting the mortgage. However, I have come to find out that the renter pays $700. The place is in no condition to rent for $1100 right now. I'd have to give her notice, fix it up and re-rent it. My real estate lawyer says its too costly to pursue, but I am wondering who is responsbile? Do I have a claim against the brokerage? Wasn't it my lawyers due dilligence to verify rent roll. Short of recinding the deal (which I am told I have a right to do), what are my options in receiving damages for this fraud. Thank you.


Asked on 2/12/06, 11:28 am

1 Answer from Attorneys
Robert R. Groezinger GroezingerLaw P.C.

Re: Seller Lied About Rent Roll/What are m options?

The due diligence is yours, not the lawyers. The attorney practices law. You are the purchaser. Howver, there might have been ways to have protected yourself from this through your attorney.

This is too complicated to discuss in an e-mai.

Please feel free to call me for a free consultation at the 8782163 phone number in your area code.

Good Luck

RRG

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Answered on 2/12/06, 11:47 am


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