It's also common for buyers to request a reduction to the agreed -
upon purchase price so they can afford to
correct the issue (s) themselves after closing, instead of asking the sellers to
correct the issue.
Casey v. Masullo Brothers Builders, Inc. (218 A.D. 2d 907)- Buyer sues seller for fraud, misrepresentation, mistake of fact and breach of contract where buyer
purchased residence based
upon representations by seller through newspaper advertisements and representations by seller's Realtor regarding the school district within which the property was located; Realtor's statement based
upon own investigation, loan profile sheet from an abstract company prepared prior to the closing, and town tax rolls which confirmed placement of the property within the disclosed school district; unless the facts are matters peculiarly within one party's knowledge, the other party must make use of means available to him to ascertain, by the exercise of ordinary intelligence, the truth of such representations; question of fact exists whether a reasonable inquiry would have revealed the
correct school district; order dismissing seller's motion for summary judgment affirmed.