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  1. #1
    Join Date
    Apr 2005
    Location
    Oklahoma
    Posts
    1

    Default Property Disclosure Statement Issues

    I am in Oklahoma

    I have a problem. I have searched this forum to no avail. Here is some history and a few questions.
    History: Purchased home in Oklahoma approx one year ago. 6 months ago, large cracks began to show in the corners and around windows. Up to 1/4 inch. There was obviously cosmetic coverage of very problematic areas. Such as caulk in the corners and using spackle to conceal the movement around the windows. Then everything was painted. Turns out there is a serious foundation problem. Almost a 1 3/4 inch drop. Also, the ductwork was completely rusted out and Brand new boots were installed so this could not be seen. Owner paid for all the above mentioned work to be done. None of this was disclosed in the RPD statement. I had a home inspection and the cosmetic work made it impossible to see the problem areas. He did find plenty of other stuff though.

    Question
    What is the effect of a Closing Acknowledgment and Release that includes a Waiver and release paragraph (appears standard) on the above mentioned failure to disclose and fraud? I have found no case law regarding this. However, it seems as though you should not be able to simply Waive liability for a fraudulent transaction? Any info will be of great assistance.

  2. #2
    Join Date
    Mar 2005
    Location
    Michigan
    Posts
    28,906

    Default Fraud on House Sale

    Given the magnitude of the damage to your house, I suggest you consult a local real estate lawyer about this situation.

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