Q: Maine real estate contract and seller disclosure requirements.
After signing a contract with the seller, it was discovered there is a cement plant/quarry 1.5 miles from the property that conducts blasting over 100x a year. Between the noise, vibrations, effects on well water, and mercury emissions, should the seller (or R.E. agent) have disclosed the proximity of the plant and the frequency of blasting? And is this a sufficient reason for buyer to cancel contract.
A:
For a transaction of this magnitude, you really should consult with a lawyer so that you can get a more complete answer. I can tell you that, under Maine law, a seller agent has a duty to a buyer to “disclose in a timely manner to a prospective buyer all material defects pertaining to the physical condition of the property of which the seller agent knew or, acting in a reasonable manner, should have known.” 32 M.R.S. § 13273(2)(A). Are any of the issues you mention “material defects pertaining to the physical condition of the property”? Did the seller agent know about the issues or, acting in a reasonable manner, should the seller agent have known? Turning to the seller, were these issues disclosed in the property disclosure statement?
As far as the buyer potentially cancelling the contract, I would need to see and review the terms of the contract. The standard Maine Purchase and Sale Agreement for residential real estate provides, for example, that a buyer’s obligation to close under the Agreement is subject to the buyer’s satisfaction with the results of any due diligence investigations undertaken. Did you as the buyer undertake any due diligence investigations that would implicate the issues you mention? Is there still time under the Agreement to notify the seller that the result of any investigation is unsatisfactory to you?
These are only a few of the issues you should consider.
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