Contracts
A Mississippi seller's property disclosure form reveals that the roof was replaced 2 years ago. The buyer's inspector finds that only a portion of the roof was replaced and significant areas remain original. This discrepancy may allow the buyer to:
AAutomatically terminate and receive full earnest money refund
BClaim misrepresentation and seek remedies including termination, price reduction, or damages✓ Correct
COnly require the seller to replace the remainder of the roof
DTake no action since the disclosure was 'close enough'
Explanation
A material discrepancy between the seller's disclosure and the actual property condition constitutes misrepresentation. The buyer may have remedies including termination and earnest money refund (within applicable contingency periods), price renegotiation, or civil action for damages if the misrepresentation was intentional or negligent.
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