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Updated about 8 years ago on . Most recent reply

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2
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Ihar Hancharou
  • Investor
  • Jersey City, NJ
0
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2
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Litigation wasn't disclosed by seller's real estate broker

Ihar Hancharou
  • Investor
  • Jersey City, NJ
Posted

Hi All,

We found a property we want to buy. Made an offer and it was accepted.

We went for financing and but got stuck as the property's association is in litigation with the developer for some issue with the building.

The seller's broker didn't disclose it. We know that financing is hard for the building with litigation that's why we asked this in the first place and they said there is no. We would not even pursue this property in the first place as we know it's very difficult to get financing or would try to go not to agency's lenders...

If it falls apart because I can't get financing what can I do? Was it a mistake of the real estate broker that didn't disclose it?

What should we do?

We have financing expenses, attorney's and etc. already.

Thanks

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