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rvlaw
rvlaw, Lawyer (JD)
Category: Legal
Satisfied Customers: 8386
Experience:  NYC Trial Atty. 30 yrs.- pers. inj., contracts, real estate, criminal, estates, matrimonial.
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I purchased a home in Illinois. The home was inspected ...

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I purchased a home in Illinois. The home was inspected prior to closing and deemed fit. When we moved in we began to have health issues. A friend discovered black mold in a crawl space under our bedroom. He also found the floor joists were rotting due to the dampness. Neither condition was mentioned in the inspection or at closing. What are my options since I cannot live in this home?

Hi,

The general rule is that all contract rights are extinguished once you take title at closing. The exceptions are in cases of fraud or misrepresentaion. The seller is obligation to inform you of any adverse condition in the premises. Here, if an expert can testify that the condition had to have been in existence before the contract, then you can sue the seller to get your money back.

Rich

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Customer: replied 9 years ago.
I read about an "implied warranty of habitation" Does that apply to my situation. Would a lawsuit be expensive? I have very limited resources. Also, should I stop paying on the mortgage, since I cannot live in the house? ( We are currently living with my in-laws)

The warranty applies to rental property only. Unfortunately your gripe is with the seller...the bank won't want to know about the problem. Get a lawyer and see if he/she can negotiate a settlement without a suit to save money.

Rich

rvlaw and 10 other Legal Specialists are ready to help you