Legal Question in Real Estate Law in Virginia
Previous water damage on a house for sale
I would like to know do I have a right to cancel a contract on a house to purchase if it was not told, the house had several claims for water damage in the past five years? As I was trying to get insurance on the house, insurance companies are refusing to sell coverage because of the amount of claims on the house for water loss in the past five years.
1 Answer from Attorneys
Re: Previous water damage on a house for sale
It depends upon what your contract for purchase
may say about a matter like this which might possibly be covered in a clause which makes your
obligation to follow through with the purchase contingent upon a satisfactory home inspection report.
Presumably evidence of such extensive water damage would be evident to a home inspector who would then include it in his report which would then give you a basis to cancel the sale and allow you to retrieve whatever earnest money you have given or down payment you may have made to the seller.
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