Q: Real Estate Law - Seller did not disclose upcoming construction / solar project next door.
We are currently under contract to buy a home in NJ at the end of August. A friend of ours involved in local government heard we were purchasing the home and informed us of an approved plan to install a covered school bus parking lot, covered walkway connecting two buildings, and a solar field. The project is beginning shortly after our closing date. The property in question is directly next to the one we are under contract for--it touches it on one side. The seller did not disclose any of this to us on the standard disclosure form (under 'misc.' or 'other' or anywhere else). Should this have been disclosed to us by the seller? We find it hard to believe the seller did not know about these plans because other neighbors know. We're concerned this affects our future resale value and want to renegotiate the price. Had we known about this, I don't know if we would have put as high of an offer in. In fact, we may have passed on the property completely. Opinions appreciated.
A: You should discuss this with your real estate attorney who is representing you in the closing. I do not believe the seller has any duty to disclose anything other than things that are in the neighborhood. If the so-called "project" is in any way, physically on your property, then that raises different issues. Good luck.
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