Home Buying in Chicago>Question Details

Clivewyvern1,  in Chicago, IL

can i claim null and void a house purchase when the vendors failed to disclose the most relevant piece of information..?

Asked by Clivewyvern1, Chicago, IL Sun Dec 15, 2013

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Answers

18
Major disruption and cost to bare.
Seems you have identified the limit of your entitlement. Null and void suggests action that has some irrational basis.
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However, he who buys the best attorney will prevail.
Choosing this course of action has little to do with right or wrong and everything to do with the depth of your pockets.
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So, are you seeking fair settlement or retaliation? Your attorney will find this information important. The latter will make them dance in the street.
0 votes Thank Flag Link Mon Dec 16, 2013
This is definitely an attorney related question. Do you have one?
0 votes Thank Flag Link Mon Dec 16, 2013
Hi Home buyer,

It is my hope that you retain the services of a real estate attorney who is handling your purchase. You should direct this question to you attorney and find out what your options are.
0 votes Thank Flag Link Mon Dec 16, 2013
This is a question best left to the attorney that is representing your interest in the purchase of this property. I would give him or her a call as soon as possible.
0 votes Thank Flag Link Mon Dec 16, 2013
Please tell us that you used an attorney to represent you at closing. Real estate agents are NOT attorneys and don't give legal advice, they bring parties together. If you have/had an attorney, they should be able to resolve this situation for you quickly.

GOOD LUCK.

Scott Miller
Realty Associates
Boca Raton, FL
0 votes Thank Flag Link Mon Dec 16, 2013
As mentioned before consult with your attorney and if you don't have one, get one.
0 votes Thank Flag Link Mon Dec 16, 2013
Talk to your attorney immediately! Then your agent. Have you closed already?
0 votes Thank Flag Link Sun Dec 15, 2013
Due diligence period was over when you closed, your attorney can advise you now. Your agent, the broker, your attorney all should be involved. If you don't like that advice, ask other attorneys. Sounds like a commercial venture maybe? Could be complicated.
Flag Sun Dec 22, 2013
-we have purchased for some months when the fire officer paid us a visit, the vendors had been instructed to fit a new alarm system but they failed to comply, the enforcement order was mandatory, they failed to disclose this. Now we have major disruption and cost to bear.
Flag Sun Dec 15, 2013
Speak with the real estate agent your working with first.
0 votes Thank Flag Link Sun Dec 15, 2013
It won't have any legal standing, but - sure, why not?

Really, what you need to do is to get agreement from the vendors to cancel the transaction. But to just declare, "I'm outta here?" I assure you, it won't be the last word in the conversation.

So - talk to your agent, and if that doesn't work, talk to an attorney.

All the best,
0 votes Thank Flag Link Sun Dec 15, 2013
Hello,

I would talk to your Realtor and your attorney before moving forward.

Best regards,

Ivan Sagel
312.515.7823
ivan@atproperties.com
0 votes Thank Flag Link Sun Dec 15, 2013
Depends whats the relevant disclosure......
0 votes Thank Flag Link Sun Dec 15, 2013
Seems like you would be able to but You need to consult your attorney
0 votes Thank Flag Link Sun Dec 15, 2013
I would start by speaking to your real estate professional. They may have simple answers that do not result in legal bills.

If a material defect was 'hidden' from you, most states provide recourse. However, determining if what you felt was left out is a defect is impossible without knowing more.

David Rudd
Kindred Real Estate
http://www.kindredre.com
0 votes Thank Flag Link Sun Dec 15, 2013
This is impossible to answer as is. I would speak to your attorney on this asap.
Web Reference: http://Americorpre.com
0 votes Thank Flag Link Sun Dec 15, 2013
Clive

There's just too much information missing from your question for us to give you any kind of accurate response.

Much depends on your contract, and what it says in the contract. It also depends on what stage of the purchase you're in. Are you still within the attorney review/inspection period? And, of course, what relevant piece of information was missing?

Northern Illinois is an area where we use attorneys in about 98% of our transactions. Assuming that have one involved, this is the perfect question to bring to his/her attention.
0 votes Thank Flag Link Sun Dec 15, 2013
Alan May, Real Estate Pro in Evanston, IL
MVP'08
Contact
What do you mean by vendors, title company, agents, seller, lawyer. If a material item of the contract was fraudulent, you could get out of the deal with the aid of a lawyer. Trying to do so on you own would be a mistake, in my opinion.
0 votes Thank Flag Link Sun Dec 15, 2013
You should always consult your attorney.

A known latent material defect known by the seller needs to be disclosed but your exact question is somewhat vague. Clarify is you can so we can provide better advise
0 votes Thank Flag Link Sun Dec 15, 2013
This is a legal question and those folks do not comment on this site. Just ask your attorney.
0 votes Thank Flag Link Sun Dec 15, 2013
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