Contracts
A Delaware seller fails to disclose a known roof leak on the disclosure form. The buyer discovers it after closing. What are the buyer's potential remedies?
AThe buyer has no remedy because the property was sold as-is
BThe buyer may sue for rescission, damages for fraud, and/or misrepresentation✓ Correct
CThe buyer may only request the seller repair the roof post-closing
DThe buyer's only remedy is to file a complaint with the HOA
Explanation
A seller who knowingly fails to disclose a material defect (fraudulent misrepresentation or concealment) may be liable to the buyer for rescission of the sale and/or compensatory damages. A complaint to the Commission against the listing agent may also be appropriate.
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