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Old 09-21-2009, 08:57 AM
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Default Omission on Property Disclosure Statement

My question involves real estate located in the State of: NC



Hello, I've sold my house in NC but am running into an issue w/ the "State of NC Residential Property Disclosure Statement". We initially filled this out when the house was listed, and filled it out correctly. However, in the rush to sign the contract to buy w/ the buyer, the realtor had us fill out another disclosure statement and we did not check box 17 which identifies a utility easement on the property (storm drain running underground along the back fence of the property). Upon question from the buyer (after the property was sold) we provided the correct statement. Now the buyer wants to back out, get their escrow money, and also be reimbursed for all inspection costs. Is this a valid option on their part? Looking at the statement it does not appear to give the buyer the right to void the contract. Thoughts? Thanks again for any help!
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Old 09-21-2009, 08:57 AM
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Default Re: Omission on Property Disclosure Statement

Unfortunately, you're going to have to run the contracts past a real estate lawyer. We can't advise you as to the seller's rights under a contract we haven't read.



Why does the buyer claim this is a material breach, as opposed to a relatively minor non-disclosure? How did they discover the easement, and how soon afterward did they approach you about reversing the sale?
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