Real Estate Law
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Hi and welcome to JA. Ray here to help you today.
I would write the buyer or the realtor here describing what you observed.You would argue that this was not disclosed to you and is readily observable.You can tell the seller here that you are going to complete the sale based on this serious undisclosed condition.Tell them if your deposit is not refunded here you intend to file small claims for it.
This sounds major here I think walking away is in your best interest even if you have to sue for your earnest money deposit.Make sure you take pics here and send them with the letter to support your terminating the sales contract.Long term this appears to be your best decision.There could be real big problems and big money to repair it.
I appreciate the chance to help you today.Thanks again.