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Ray, Lawyer
Category: Real Estate Law
Satisfied Customers: 36341
Experience:  Texas Attorney for 30 years dealing in real estate
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If the real estate contract states "Buyer understands and

Customer Question

If the real estate contract states "Buyer understands and agrees that, according to the best information available, improvements on this Property were not constructed prior to 1978 and should not contain lead-based paint hazards." Both seller and buyers signed this contract.
Three days after the contract was signed the Seller Property Disclosure was provided to us (buyer) and the box 50 is checked with a Yes that says "to your knowledge are there lead-based paint or lead based paint hazards on any improvements to the Property including,without limitation, garages, tool sheds and other outbuildings, fences, signs, mechanical equipment on the Property
Our real Estate Contract states we have a 10,000 non refundable deposit unless fault of the seller. We feel the contract was incorrect in which realtor and sellers indicated there was no lead paint and then specifically state there was in the seller property disclosure there was lead. Should this terminate the contract as the sellers should not have signed knowing they had disclosed lead.
Submitted: 4 months ago.
Category: Real Estate Law
Expert:  Ray replied 4 months ago.

Hi and welcome to JA. Ray here to help you tonight.

You may want to argue that they breached the contract by trying to amend it with a corrected disclosure.I agree with you that this argument holds water that seller breached and buyer has right to terminate based on breach.You may want to have local lawyer sending termination letter on this basis.You have great facts that they attempted to deceive you and then tried to correct it all.You would have lawyer send your demand letter for the $10 k and sue here if you have too.

It is important to have the lawyer point out the seller's breach of contract and that but for sellers breach here---the false statement you would not have bought it.It amounts to fraudulent inducement.

The cancellation letter here demanding refund based on the material misrepresentations in the sales contract here would be your next step and then sue if you have too .

I appreciate the chance to help you tonight.

Expert:  Ray replied 4 months ago.

You can have lawyer here locally terminate the contract based on the sellers breach of contract based on material nondisclosure in the sales referral

You have great facts to terminate the contract based on seller.

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