What is my recourse if garage flooding was not listed in a real estate disclosure?
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What is my recourse if garage flooding was not listed in a real estate disclosure?
I was informed by my neighbor that our garage will flood during heavy rains. We just purchased this house about 9 months ago. I had noticed how high the water gets during thunderstorms into the yard and driveway. My new neighbors informed that the garage will become flooded during very heavy rain. I feel this has reduced the value of my home being that we will have to disclose it if we sell. I am also worried about damage to items kept in garage. The real estate agent and seller were friends. I feel this was deliberately covered up by the seller.
Asked on June 19, 2018 under Real Estate Law, Missouri
Answers:
S.L,. Member, California Bar / FreeAdvice Contributing Attorney
Answered 6 years ago | Contributor
You can sue the seller for fraud which is the intentional misrepresentation or nondisclosure of a material fact made with knowledge of its falsity and with the intent to induce your reliance upon which you justifiably relied to your detriment.
In other words, you would not have bought the house had you known of the garage flooding.
Your damages (monetary compensation you are seeking in your lawsuit ) for fraud would be either the benefit of the bargain or your out of pocket loss.
Benefit of the bargain means a defrauded purchaser may recover the difference between the real and represented value of the property regardless of the fact that the actual loss suffered might have been less.
Out of pocket determination of damages for fraudulent misrepresentation permits recovery of the difference between the price and actual value of the property acquired.
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