Q: Can I get a seller to reimburse cost of appraisal and ILC if he lied on the Sellers Property Disclosure?
The seller stated that he "did not know" if the property was in a flood plain. His listing agent has told us that he has been paying for flood insurance. Paying for flood insurance is a deal breaker for me. If he stated that it was in a flood plain on the SPD, I would not have proceeded with the ILC or appraisal. Can I legally go after the seller for the cost of the ILC and appraisal? Any input would be greatly appreciated!
A: Without having all the legal documents I cannot provide a definitive answer. You can probably make a claim, but the claim is not exceedingly strong (the buyer does have a duty to reasonably investigate and having flood insurance does not necessarily prove that the seller knew the property is on a flood plain). Also be aware that you will have to pay legal costs for any attorney you hire. Many attorneys offer free consultations--this is the best way to have someone review your specific situation.
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