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Hello, I purchased a lot of land in SC. a few years ago for…

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Hello, I purchased a lot of...
Hello,
I purchased a lot of land in SC. a few years ago for $176,000 and now it is pretty much worthless. It was on of those high pressure situations where they kept us there all day. The bank was there as well and quickly approved our loan. Do you think there was real-estate fraud involved? I can give more details if needed.
Thank you
Gus
Submitted: 8 years ago.Category: Real Estate Law
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Answered in 2 minutes by:
4/1/2010
Real Estate Lawyer: FLACORPLAWYER, Lawyer replied 8 years ago
FLACORPLAWYER
Category: Real Estate Law
Satisfied Customers: 4,634
Experience: 23 years as attorney NY and FL Bars.
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There was no fraud involved. While the sales pitch may have been high-pressure, once you sign the documents it reduces the agreement between the buyer, seller and lender to a writing which erases anything that happened before the signing. If the property was materially misrepresented (if they told you it was buildable when it was not) then you have an action for fraud. Get a real estate agent to give you an appraisal of the value before you declare the thing worthless.
FLACORPLAWYER
Category: Real Estate Law
Satisfied Customers: 4,634
Experience: 23 years as attorney NY and FL Bars.
Verified
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