Your question is very surprising, because there has NEVER been a dream of universal home ownership in America. If we take the term "universal" litterally it means "everyone" - and that has never been, and never can be, possible. Home ownership is much like "full employment." There will always be people starting out who need time to build up wealth and income so they can buy a home without over-extending themselves financially. Home ownership is a dream that is made true by individuals and families who work hard, save, and EARN the ability to own a home. That route is not for everyone, therefore not everyone can - or should - own a home.... more
This is too much of a question for Realtors to answer legally.... Contact a real estate attorney is my suggestion. David Gellman, Stephen Lightfoot, Steven Adair MacDonald, Andy Sirkin...... please go to Resources on my website for a list of Real Estate Attorneys. Good luck!... more
I am sorry to hear about your situation. This sounds like a material fact. Sellers are obligated to disclose all known material facts affecting their property to potential buyers. If the realtors are also aware of such facts, they are obligated to disclose them as well regardless of which side of the transaction they happen to be representing. If this situation is unacceptable to you with respect to the price you paid for the property, I recommend contacting a real estate attorney asap to evaluate your case.
Please note, this is not legal advice and should not be treated as such. All information from sources deemed reliable but subject to errors and omissions, and not warranted.... more
Hi P, Here is my .02 ( unabashed). BUY! If you wait for the market to be " just right"...You will miss the boat, so to speak. Flipping..NO! Buying to hold for 3-7yrs...YES! Absolutely. Ask this...Are Realtors buying houses right now? I think you will get an overwhelming yes, we are as much as we can...I sold my personal home in May just to be in this market with cash! Now, have fun shopping!