I think that your question is probably beyond the scope of the Reatlors on Trulia. I am so sorry to hear that you have found yourself in this situation. These are quite complicated issues, and you are post closing, so what you really need is a thorough reveiw of your options from legal cousel.
Did you have a Realtor represent you in the purchase? You are currently in a lawsuit? What feedback has your attorney provided?
Again, I am so discouraged to hear of this type of report. It represents a minor percentage of all transactions, but things like this do happen. I hope that you are able to find a suitable resolution to this situation.
Did the agent representing them know the truth or were they also lied too?
I am sorry to hear that it seems you were caught in a web of deception. The reason there are laws to regulate disclosures, and real estate licensing is to protect the public. It is unfortunate to hear that you case may have involved unscrupulous brokers. If a broker/agent knowingly participated in withholding material facts or, worse, covering them, these individuals should be held fully accountable.
The very vast majority of Realtors strongly support and uphold the laws that protect the public, which include, but are not limited to disclsoure and fair housing laws. I am a loud an vocal critic that the education and performance requirements to obtain or maintain a license should be raised. I find much frustration w/ agents who know less than they should. I find VERY few agents who disregard laws. By far, most agents are honest and have good integrity. I am sorry to hear that you were caught up with a group that represented the minority. That doesn't help you, personally. I know that being called for a deposition is time consuming on your part. I do extend a thank you to you for your time, because it is important to get brokers off the street if they are participating in illegal or deceptive practices.
Most of us spend a lot of time educating our sellers about the importance of disclosure. I have had sellers think it was OK to withhold info, and ask me why they had to report "x,y, or z".. That makes me wonder what info might not have been disclosed if a Realtor was not there to educate the seller. That is why I asked the orignial poster if there were Realtors involved. It usually wasn't because the seller was trying to decieve, the seller simply considered something a non-issue......but, the buyer might....and it needed to be disclosed.
When it is a transaction with a real estate licensee, and particularly a Realtor, there should be an added assurance to a buyer that this seller has been coached and informed by the agent on the importance of full disclsoure. No guarantee....but some added assurance. In the case for Karyn, this certainly was not the case.....and I am so sorry to hear that. Karyn, on behalf of other Realtors and home buyers, thank your for your role in protecting future buyers.
You are possibly seeking damages in a civil suit. Have you considered calling authorities to see if there is grounds for a criminal suit as well? The deception here could cross over into loan fraud. I would start with your state's Attorney General's office. You may not be the only victim. Some of the professional "flippers" defrauded many innocent home buyers. Good luck and hang in there.
As I read this, I wondered if there were Realtors invovled in the transaction and if the buyer, KarenLopez, had an inspection done of the property.
While it is possible for a seller to hide a defect from their own Realtor, there are usually more details available to the buyer when Realtors are involved. An inspector can miss things, but KarenLopez mentioned something that furnitrue was hiding. Was there a walk through after furniture was removed and before closing?
If KarenLopez does return, can you let us know what has happened since Dec? Hoping to hear that the sellers settled.
Josh......I hear too many stories like yours. I try very hard to have faith in our justice system.....but, too many stories like yours chips away at it.
Unfortunately, like Bruce already stated...... winning in court or out of court is just the tip of the iceberg... it's actually collecting that is the main issue.
My family had to sue one of our main partners in a software company we had formed as we had found out he was selling off our software and all of it's secrets to another company and hoarding all the profits for ourselves. Since the other company now held all the "meat & potatoes" of our software's success, they completely wiped us out and then continued to keep our partner on retainer for a couple more years.
Needless to say, we had a lock down case against our partner and the other company for all types of violations.... it took us 2 years and over $50k out of our own pockets to win..... and recieve NADA!!! He just filed BK and the company has sent appeal after appeal...
Not to make you completely depressed, but this is why you need to really find a GREAT attorney you can absolutely trust and rely on. We did not have such a great one as we found out we could have gone through other means and perhaps atleast collected something w/out the pricey attorney fees!
Please keep us informed of what comes about.
Your attorney may have told you that you would have to prove that these problems existed prior to you purchasing the house AND that the prior owners knew about it and didn't disclose it.
However, it peaks my curiosity to ask you... did you have the house inspected before purchasing it?
I had a client about 10 years ago that purchased a house in Irving (i represented them). The sellers had put in the disclosure that they were not aware of any problems with the foundation and never received any report from a professional that it needed work. They were ok with that, we knew that it woudl need to be addressed down the road. However, 4 months after they moved in they called foundation repair companies from the yellow pages and it turned out that one them (small world) had already come to this house a year prior and told the owners that it needed work and he even gave them a quote. My buyers were very upset obviously, seeked legal counsel and settled out of court. My clients were not greedy, they simply wanted them to pay for the work since they lied.
Good luck to you.