Seller lied on disclosure

[Randall Re II]

Hey everyone. I bought my first property. I close in a few days and my insurance company pulled up the property that had water damage on two separate incidents and currently, both are open insurance claims. The seller never said anything about water damage and the info from the insurance claims is very vague. I've paid for inspections already, and now I'm a few days out and this comes up. The most recent water damage insurance claim is $4,000 it says and only 3 months ago it happened, so I know they lied about it when they never mentioned it or roof damage to the property. Do I have any legal course of action, or any other action? My insurance company says insurance will go up, and even though they say they will cover anything that comes up like mold or something down the road, I know better then to believe an insurance company. It's unknown if it was a bandaid fix on the property or professionally done with legal responsibility or not. What are my options?

[Stephen Oakley]

I am a licensed attorney and while I usually don't give out advice on a public forum, you have options here.  First, why don't you delay the closing until all of this gets straightened out?  It appears that you submitted an offer on false and withheld information that was no fault of your own.  Next, you have to decide if you want to move forward with the property?  What else are they not telling you? If you elect to move forward, you renegotiate the sales price.  If you don't want to move forward then back out, based upon their "lies", if they can be proven and you get all your money back.  If they don't want to willingly give it to you then you file a small claims action against them.  You were enticed to enter into this agreement based upon their withholding of damaging info.  First, thing I would tell them is that there is no way I am closing in 3 days.  Feel free to PM me for more info.