Can I sue a realtor for not disclosing a house was in foreclosure?
We bid on a house that we found out on our closing date was in foreclosure because the seller had not paid his mortgage. The realtor and seller both knew about it..according to our closing attorney. Now, we have received the sellers payoff and the seller is short with funds…His realtor has dropped is commission to cover the defecit… Do I have a case here? My wife and I feel we were completly deceived in buying this home.
Okay I don’t know where you live, but here in Canada we have a saying… “disclose, disclose, disclose”. I cannot understand how either Realtor (theirs or yours) would not know the house was in foreclosure – and it should have been disclosed to you.
However, that being said, the house will only close if title is free and clear. Did you get the house on the closing day you wanted in the Agreement to Purchase? If so, you got what you paid for and though it left you with a bad taste in your mouth, I don’t see why you’d want to sue anyone as that’s $$ and effort for nothing, but some people are more litigious than I am I guess.
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