Rio Rancho, NM asked in Contracts and Real Estate Law for Kentucky

Q: What to do when a home marketed as one size turns out to be 500 sq ft less and only known to buyer at closing?

Can the buyer insist on renegotiating the sale price when the discrepancy is discovered upon inspection while preparing for closing? Is this considered deceptive advertising?

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1 Lawyer Answer
Timothy Denison
Timothy Denison
  • Louisville, KY
  • Licensed in Kentucky

A: Depends. If it is only known to the buyer, that would imply the seller does not know about the error, which might be difficult to prove fraud. Alternatively, you should make everyone aware and either withdraw your offer or renegotiate the offer. The burden of proof will be on you to prove the seller knew of the fraud if you litigate.

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