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Do we have legal recourse for undisclosed neighborhood fees?

Do we have legal recourse for undisclosed neighborhood fees?

Q: Can I sue a seller for misrepresenting property fees?

Yes, you can sue a seller for misrepresenting property fees if you can prove that the seller knowingly provided false information or was negligent in their disclosure. To succeed, you will need to demonstrate damages, such as the difference in fees. Legal advice is recommended to navigate this process effectively.

Q: What is the statute of limitations for real estate fraud claims?

The statute of limitations for real estate fraud claims varies by state, but it typically ranges from 1 to 6 years. In many states, the clock starts when you discover the fraud. It's important to consult with an attorney to understand the specific time limits that apply in your situation.

Q: What constitutes fraud in real estate transactions?

Fraud in real estate transactions occurs when a seller knowingly provides false information or omits critical details about the property, such as fees. To establish fraud, you must show that the seller intended to deceive you and that you relied on their misrepresentation when making your purchase decision.

Q: Are there penalties for sellers who misrepresent property information?

Yes, sellers who misrepresent property information can face legal penalties, including being liable for damages in a lawsuit. If found guilty of fraud, they may be required to pay compensation to the buyer for losses incurred due to the misrepresentation. Legal action can also lead to reputational damage for the seller.

Full question:

We purchased a home in 7/09. On the disclosure statement the previous owners listed the neighborhood fees as $150 a year. However we've recently found that through quarterly payments we will be paying approximately $460 a year. Do we have legal recourse on this matter?

Category: Real Property
Subcategory: Residential Property Disclosure
Date: 04/07/2025
State: Missouri

Answer:

A seller’s disclosure statement outlines known issues with the property, including fees. If the seller inaccurately reported the neighborhood fees, they may be liable if they knew or should have known about the discrepancy. However, if the seller was unaware of the true fees, they may not be held responsible. Since your transaction is complete, you might consider a lawsuit against the sellers for fraudulent disclosure. To succeed, you would need to prove damages, which could include the difference between the disclosed fee and the actual fee over your ownership period. The sellers could defend themselves by claiming it was a mistake. Ultimately, a court would determine if fraud or negligence occurred and decide on any damages awarded.

This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.

FAQs

What should I do if I discover undisclosed fees after buying a home?

If you discover undisclosed fees after purchasing a home, you may want to consult with a real estate attorney. They can help you assess whether the seller misrepresented the fees and if you have a case for fraud or negligence. Document all communications and disclosures related to the sale, as this information will be important if you decide to pursue legal action.