Real Estate Disclosure???

[shadowhunter]

YOUR STATE NAME - Alaska
I purchased property in Alaska and the couple that sold us the land had developed 12 one acre lots. When they gave us a map of the area it showed the lots that we could pick from. Later we find out that this map that they used to show prospective buyers had the words "Flood Hazard Zone" covered up before she made copies. You can see if you look at the copies that they had done this. Now I find out that in order to build on the property it will cost $5,000 to $6,000 more and water might be a problem in the winter. What can I do...we still owe them over $14,000 for the lot.

JOHN

 

[HomeGuru]

YOUR STATE NAME - Alaska
I purchased property in Alaska and the couple that sold us the land had developed 12 one acre lots. When they gave us a map of the area it showed the lots that we could pick from. Later we find out that this map that they used to show prospective buyers had the words "Flood Hazard Zone" covered up before she made copies. You can see if you look at the copies that they had done this. Now I find out that in order to build on the property it will cost $5,000 to $6,000 more and water might be a problem in the winter. What can I do...we still owe them over $14,000 for the lot.

JOHN

**A; if the property is in fact in a flood hazard zone, then that is fraud and you can sue for rescission.

 

[shadowhunter]

I have researched this and can't find any Alaska law that requires a developer or private person to provide disclosure statement prior to sale. There was no property report or anything. I do find that a licensed real estate agent or broker is required to to this...but can't find anything else.

 

[HomeGuru]

I have researched this and can't find any Alaska law that requires a developer or private person to provide disclosure statement prior to sale. There was no property report or anything. I do find that a licensed real estate agent or broker is required to to this...but can't find anything else.

**A: that's because you are not an attorney and do not know where to look. Hire an attorney and sue their assets.