Q: Is Seller Liable to conform with their statements about the condition of the property as it was represented after sale?
I Purchased 2 brand new construction duplexes on adjoining lots. Seller represented the properties as having ALL individual utility meters for ALL utilities for all 4 units, Proforma expense sheet showed 0 cost for owner for water. My agent distinctly remembers the seller's agent stating this. Turns out that after the new tenants moved in, there is only 1 water meter per building, which puts the water cost on the owner. Do I have any recourse?
A: You can probably demand an Arbitration of the issue if the Real Estate Purchase Contract documents contain an arbitration clause which has been initialed by both parties. You should read all the paperwork.
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