Speaking of snakes.. Any OK Real Estate agents/brokers out there?

[Big Kahuna]

Sorry didn't mean to impune all RE People... just one in particular.

Here's the story:

We entered into a "contract for deed" on a house a few months ago. I do understand what "Caveat Emptor" means... but there are many issues we have discovered with the house that were not disclosed. The major issue we discovered was that our house is located in a FEMA floodplane, and our house was under 6 feet of water in 1999 and 1991. This is a clear violation of Oklahoma law, which states that a landlord or seller must provide written documentation of property defects, including flooding history. We were never informed of this either verbally or in writing.

I'm not lawsuit-crazy... but how bad can I nail her on the FEMA floodzone thing? Should I ask for my deposit and payments back?

Thanks for any input you can offer.. google wasn't much help.

[HooptieWagon]

1. If your description

of OK law is accurate, then I'd say you have a pretty decent case to void the contract. Talk to an attorney.
Also, just because a house is sold "as is" doesn't mean it is. In your offer you can place conditions that the offer may be withdrawn if a home inspection turns up additional defects. If the seller accepts your offer, then he also accepts your conditions. I bought my house in FL 15 months ago "as is" on condition of inspection - the seller agreed to about $1500 in repairs turned up by the inspector in order to keep the sale going. I let him slide on about $500 in minor stuff to appear "reasonable". But you need to have that provision in the original contract. Always get a home inspection - you can bargain down far more than it will cost you.

BTW - I'm not an expert, just went through the house-buying thing recently, and had a semester of contract law in college eons ago...

[northzax]

2. you have no claim on the flood plain issue

you might on the flood, but probably not, since flood plain maps are public record, it is your responsiblity to check on whether property is in a flood plain or not. Yes, they should have told you, but you may be screwed. sorry.