recently purchased a property in Fort Worth, Texas, and unfortunately, the condition of the property at closing was drastically different from what had been represented.

Unbeknownst to us, the property suffered significant water damage due to burst pipes just one day before closing. The seller had been informed of the incident by the fire department, who shut off the water—but this material fact was never disclosed to us.

We signed the closing documents through a notary on a Friday and did not learn about the flooding until that weekend, when a prospective tenant visited the property and informed us of the damage. She inspected both units and confirmed water damage throughout.

At that point, we weren’t sure whether we officially owned the property when the damage occurred, so we filed an insurance claim. While gathering details, we discovered that the fire department contacted the seller the day before closing, meaning the seller knowingly withheld this critical information and allowed the sale to go through.

We immediately reached out to the title company first thing Monday morning to stop the closing process, as they had not yet received the executed documents. Despite notifying them of our decision to cancel, the title company proceeded with the closing. We had also informed our agent over the weekend, who then reached out to the seller’s agent. We made it clear we wished to terminate and even signed termination documents—but these were ultimately disregarded.

We are now facing over $70,000 in expenses from repairs, loan payments, and other costs. The property does not appraise for the contract price and was not delivered in the condition represented.

We feel misled and wronged in this transaction and are currently seeking legal advice. Has anyone experienced something similar? Any insight or suggestions would be greatly appreciated.

0 Votes

4 Replies

Jump to Last Reply

Any advice would help!!!

Most Popular Reply