Q: Is there a statute of limitations if a seller misrepresents aspects of the property to the appraiser or realtor?
When we bought our condo, we were told it came with a parking spot. We're trying to sell our condo and are being told that our parking spot is "common area" for the building and we can't sell our condo with the parking spot. We wouldn't have bought the condo without a parking spot. The seller advertised the condo w/ parking, and told the appraiser that parking was included. We were never told the spot was common area. Now we're stuck with a condo and no parking. What can we do?
A: That's a tough situation. Verbal comments would be difficult to prove, and it would depend on exactly what the seller posted when advertising it - whether it could be considered fraud. And purchase contracts typically say that information provided is not verified accurate. The condo documents are all recorded in the real estate records, so they are available to buyers to review. Those specify which units have assigned parking spaces. And buyers are deemed to have notice of recorded documents, whether they've seen them or not. Use the Find a Lawyer tab to retain a local real estate attorney to review all the facts and advise you of your options.
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