Contracts
A Virginia seller provides the Residential Property Disclosure Statement but the buyer later discovers the seller failed to disclose known foundation issues. The buyer's recourse includes:
ANo recourse because the buyer purchased as is
BRescission and/or damages for fraudulent concealment✓ Correct
COnly mediation under the contract
DA refund of the home inspection fee
Explanation
Knowingly failing to disclose a material defect constitutes fraudulent misrepresentation or concealment in Virginia. The buyer may seek rescission of the contract and/or damages beyond the as-is disclaimer.
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