Seller failed to disclose in Ohio

[Cairo116]

Ohio realestate problem here

We recently put a bid on a home and had it inspected.....The seller had signed her disclosure statement saying nothing was wrong with the property.....Well!! when we arrived at her property to meet with the inspector, the seller revealed to us that the fireplace had been inoperable for the past 4 years due to the flue being cracked.....Isn't that a disclosure failure and grounds for us being able to back out of the bid.....Also there were numerous other property damages that were found in the inspection including code violations in electrical and a grossly bad roof.....Can someone tell me if we had the right to back out of the deal....She refuses to sign the release from.....She failed to disclose a major fire potential and other issues as well


Thanks for the help!!

 

[HomeGuru]

Why are you asking us?
Your written purchase contract should have termination provisions if certain contingencies were not met.

 

[shaylahc]

Not in the exact same situation but similar. We were in contract for a home and it was discovered during the home inspection that the seller had concealed enormous damage to the home. We got our earnest money back and were able to get our earnest money back but are out $970 in banks and lawyers fees for the failed sale. We are pursuing it in small claims court.

Your contract should state what the contingencies are. For example, in our contract it stated if the damage upon inspection of the property was more than $3000 we could walk away and retain our earnest money, which is exactly what we did. Your contract should stipulate under what conditions you can walk away from the contract and get your deposit back.

Good luck.

 

[Cairo116]

Thanks for both replys!!

And yes Guru our contract did stipulate grounds for a failed inspection, but apparently that didn't matter with the seller, she wanted to try and force us to buy her money pit anyway!! Confered with our attorney and she made one phone call to her "hired help" and all is done....

Shay, I know how you feel....Though my husband and I felt we were in the right (which we are) it is still aggrivating to say the least. I wish you luck with the small claims and HAPPY HOUSE HUNTING!!....Oh by the way, we found a gorgous home

 

[HomeGuru]

Thanks for sharing the information.