Legal Question in Real Estate Law in Ohio

Re: Inoperable Fireplace

Dear Readers, You may have valid claims for concealment and negligent misrepresentation against the seller and their realtor as well.

��The principle of caveat emptor applies to sales of real estate relative to conditions open to observation. Where those conditions are discoverable and the purchaser has the opportunity for investigation and determination without concealment or hindrance by the vendor, the purchaser has no just cause for complaint even though there are misstatements and misrepresentations by the vendor not so reprehensible in nature as to constitute fraud." (Emphasis added.)***

��It is true that in Ohio the law requires a person to exercise proper vigilance in his dealings, so that where one is put on notice as to any doubt to the truth of the representa-tion, the person is under a duty to reasonably investigate before reliance thereon. However, vendors and their realty agents have a duty to disclose any material facts which are not visible and nondisclosure is willful misrepresentation. Gilbey v. Cooper (1973), 37 Ohio Misc. 119 [66 O.O.2d 366]. Purchasers are entitled to rely upon the representations of the realtor because of the fiduciary nature of the relationship. A fiduciary is bound to make full disclosure of material facts known to him and not known to the other party, which affects the value of the property which is the subject of the transaction. *** �

��A person injured by fraud is entitled to such damages as will fairly compensate him for the wrong suffered; that is, the damages sustained by reason of the fraud or deceit, and which have naturally and proximately resulted therefrom. (Citations of law intentionally omitted.) The fundamental rule is that the owner must be compensated for the loss sustained. ***�

Ohio�s Seller�s Disclosure Statement is, in effect, a statutory affidavit. Requirements of disclosure, under Section 5302.30 R.C., effective on March 19,1993, requires sellers of residential real property to make honest, full disclosure, ��in good faith�� , of all known defects, in writing, in an affidavit form, signed by the Sellers and presented to Purchasers.

My suggestion is that you immediately (meaning ASAP) seek the services of an experienced real-estate Attorney to guide you and represent your interests.

Good luck. Sincerely, J. Norman Stark