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After buying a house in Rhode Island is there any way to get…

After buying a house...

After buying a house in Rhode Island is there any way to get out of it , if finding issues or possibly that the new owners were possibly manipulated or duped in some way

Lawyer's Assistant: Because real estate law varies from place to place, can you tell me what state this is in?

Rhode Island

Lawyer's Assistant: Has anything been filed or reported?

Don’t understand that question

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

No that’s it

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Answered in 5 minutes by:
3/12/2018
Barrister
Barrister, Attorney
Category: Legal
Satisfied Customers: 42,577
Experience: 17 yrs practice, Civil, Criminal, Domestic, Realtor, Landlord 26 yrs
Verified

Hello and welcome! My name is ***** ***** I am a licensed attorney and will try my best to help with your situation. There may be a slight delay in my responses as I type out an answer or reply.

,

Has the closing already occurred or has there just been a written offer to purchase accepted by both sides?

.

Has buyer put any money down?

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Are there any contingencies in the contract, like an inspection contingency or an appraisal contingency or a financing contingency?

.

if finding issues or possibly that the new owners were possibly manipulated or duped in some way

.

What does this mean? it is kind of vague with no details...

.

.

thanks

Barrister

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Customer reply replied 4 months ago
closing has been complete
Some of those I can’t answer I’m still trying to get information
My understanding there was an inspection done but I don’t know who the inspector was working for

Ok, if the closing has already occurred, then my questions about inspection and financing are not relevant... They only matter if the closing hasn't actually happened yet..

.

So what did the seller do that was deceptive or to manipulate the buyer?

.

What is wrong with the house?

.

.

thanks

Barrister

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Customer reply replied 4 months ago
It seems there was damage to house and work to cover it up is noticeably shoty and visible damage from water damage roughly about 1 to 2 feet is still noticeable in basement

Ok so was there any disclosure of any existing damage or work being done on the house on the ""seller's disclosure of property condition""?

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Did the buyer have a home inspector in to inspect?

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If problems were obvious, why did the buyer close on the property?

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Customer reply replied 4 months ago
I will get those answers tomorrow
Apparently there was mention of price reduction of $3000 but that will never cover the possible damage
They had an inspection but don’t know who paid or arranged the inspection
I actually believe the buyers don’t understand or have sufficient knowledge of the severity of damage

Ok, if the seller didn't disclose the property problems, or tried to cover them up so they weren't discoverable by a home inspector, then the buyer could potentially sue them for misrepresentation or fraud. Their damages would be whatever it costs to make repairs to the property.

.

But they wouldn't be able to back out of the sale now that it has closed and force the sellers to refund their money.

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But if there were problems noted or discovered and the buyer agreed to a $3K reduction in price and to take the property "as is", then they are stuck here because they should have gotten estimates for the cost of repairs and negotiated harder for a larger reduction in price..

.

.

thanks

Barrister

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Customer reply replied 4 months ago
Understood
I’ll get better answers and see where to go from here
Thanks

You are very welcome. Happy to help any time.

.

It was my pleasure to work with you and help with your question. If you ever need me in the future, you can post a new question with "For Barrister" in the title and the JustAnswer employees will get it to me.

.

If you feel I have answered all your questions, I would very much appreciate a 5 star rating by clicking on the rating scale on your screen as that is the only way I receive credit for my work.

.

.

Thanks much

Barrister

Barrister
Barrister, Attorney
Category: Legal
Satisfied Customers: 42,577
Experience: 17 yrs practice, Civil, Criminal, Domestic, Realtor, Landlord 26 yrs
Verified
Barrister and 87 other Legal Specialists are ready to help you
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Barrister
Barrister
Barrister, Attorney
Category: Legal
Satisfied Customers: 42,577
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Experience: 17 yrs practice, Civil, Criminal, Domestic, Realtor, Landlord 26 yrs

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