Thanks all for your input in this matter. I have been trying to get a flood insurance to go through with this transaction but almost all the insurance company I called kept quoting a higher premium. Also I did a walk through on the property last Mon. and the home inspector alerted us that the heat in the new addition is not adequate for the room. In order words it will have to be checked and replaced by a heating contractor. The seller agreed on replacing the water heater but installed a used one. I told my attorney about this and he said as long as it was not leaking that it's fine because they did not have to install a brand new one. I also received a call from my attorney today saying that the seller's attorney faxed him a letter stating that if the closing is not scheduled by Wed they'll cancel the contract and keep my deposit. My attorney said if that happenned then I'll have to hire another attorney to represent me in getting back my money. I am so frustrated at this point . I don't have any insurance in place and frankly I don't want this property any longer period. If I have to enter into litigation to get back my money that's fine. I refused to be bullied into accepting this property as is right now. The realtor I used need to be exposed so that other first time buyers like me will not go through what I went through. Please if anyone know of a really good attorney who will help me resolve this issue please let me know. I appreciate all your input once again thanks.

Mon May 12 2008, 15:09

I read with interest the various answers to your question. I won't comment on the flood insurance since many capable agents have already done that. But one item that was NOT noted is that you probably signed a buyer agency agreement, and that agreement is with the Broker,( real estate company), NOT the individual agent. If you are not satisfied with that particular agent, you might want to contact the manager of the office where she works and discuss your problem. It may be too late, but many buyers do not know that these agreements are between the client and the company. It is in the company's best interest to make the client happy, so if you have an issue with a particular agent, there are probabably many other agents in that company who would be more than willing to step in and make you a happy camper again. If you truly feel there was some conflict of interest with that agent, you should alert the Company. Good luck!

Thu May 8 2008, 11:45

That information was always there. It is a shame no one communicated this important information to you.

You may be able to stop closing, or open negotions because of this.

Time is of the essence, contact your attorney, by phone that this is not acceptable, then formally in writing (certified return/receipt mail) requesting that you want satisfaction for this important information being omitted. Mail (certified return/receipt) copies to the real estate agents and their managers, the Seller, and the Seller's attorney, and any others that are involved in the transaction. The bank appraisal would have discovered this information as well.

Real Estate companies have Errors and Omissions insurance.

Advice to Buyers: Always contact the Town/City Clerk, and Zoning. Find out "first hand" what the zoning is, and any plans for the area in the future regarding zoning for that area.

Mon May 5 2008, 04:37

Linda, if you ask me, a question mark is not an acceptable answer! Talk to your lawyer tomorrow and push the issue. You were not told that you would need flood insurance, you cannot afford it and you should be able to get your money back. Talk to the agent's manager also. I sit on the Stamford Board of Realtors and chair the professional standards/ethics committee. You should go that route also, however, that will not get your money back; it will simply have your realtor be accountable. If the realtor did not do her job well, she should be accountable -- we (Realtors) are a group of licensed professionals, and should represent our profession with honesty and integrity.
Catherine

Sun May 4 2008, 13:00

You should talk to your lawyer about this. If you can't afford the flood insurance, then you can't get the loan. That may be an acceptable out.
This is not cecessarily something that the seller was hiding. I have seen many instances where the current owner does not have, nor need, flood insurance. Many lenders are now requireing this.
If you do wind up losing your deposit, I would also as your lawyer about your agent's responsibility here. It sounds like he/she didn't act in your best interest.

Sun May 4 2008, 12:35

Hi Catherine, Thanks for answering my question. On quetion # 3 the seller just put a question mark on the no column. Is this allowed? Also my realtor did not go over this disclosure with me . She just emailed it to me and never discussed anything pertaining to this purchase with me. I had to keep asking her quetions and she always said she does not know or will give the wrong information. I had to keep asking my friend who also bought in Stratford for info. She acted more like she is rpresenting the seller rather than me. Since the process of purchasing this ome i have uncovered so many cans of worms. But she kept telling me that if i decide not to go through with the purchase of the home i won't get my money back. I kept going for the fear of losing 5,000. For instance when i could not complete the inspection on the specified date because i was 9 months pregnant and could not make up to CT she told me to sign an addendenum to the contract so that the date can be changed to another day. When the inpection was unsatisfactory i demanded my money then my attorney told me that the realtor never got the seller to sign the addendenum. i was furious. my mid is not with this home anymore and i just want my money back. i beleive the realtor did not represent us well beign that we were out of state buyers. I beleive she did all this because she recommended her boyfriend for obtaiing a mortgage and i had no problem with it. But when he came and try o convince me that the closing costs on the loan will be 12,000. I refused and went to another bank. Ever since the she became evasive and no forth coming about what to do and wht not to do. Right now i am going to file a complaint against her with the real estate board. And i Will definetly sue her and her company if i don't get money back. i will be taling with my attorney tommorrow. do you think i am entitld to get my money back. thanks again.

Sun May 4 2008, 12:15

If the seller filled out The Connecticut Property Condition Disclosure Report, there is a direct question on there (I think it's question #3) asking if the property is in a flood zone. If the seller did not disclose that the property is in a flood zone when in fact, it is, I would certainly think that an attorney can get you out of this purchase. If the homeowner did not know, that is no excuse. Bt the way, a homeowner has the option of not filling out a Disclsure report, but will be fined $300 at closing. If the homeowner opted to do that, that's a red flag right there. Also, properties in flood zones do not value less. Good luck!
Catherine Richardson
Keller Williams Real Estate
203-504-5331
203-249-1512

Sun May 4 2008, 10:30