The realty company that we went through to get our home never disclosed to us about any flooding due to a water leak or that it had mold. And now we are starting to pay mortgage on a home that we cannot live in. I have a son that suffers from asthma and allergies and a little girl that I do not want to develop anything. I cannot not expose them to that.
Construction / Development Lawyer
The question is whether seller and the agents knew or should have known about the leak and the mold. Also check your disclosure statements.
Real Estate Attorney
Common protocol, in New York at least, is that after a prospective Purchaser executes a Binder, which, mind you, is rarely "binding", but does serve as an "indication of intent to purchase", the prospective Purchaser would have every opportunity to conduct whatever pre-contract inspections he or she desires as a means of gaining full knowledge of the condition of the premises, including, engineer, termite/infestation, radon, lead, asbestos, and those other inspections that may be common or indigenous to the area where the real estate is located. If the prospective Purchaser is satisfied with the results, then he or she may choose to move forward without any pressure however. If the results do not turn out as the prospective Purchaser had hoped, then he or she may freely walk away from the deal without any consequences other than the monies invested in the inspection(s) which is a small price to pay to learn that "this just isn't the real estate for me" or in lieu, to serve as a bargaining tool to either get requested repairs or a reduction in the purchase price based on the results of the particular inspection.
Something tells me that you didn't do this.
Car / Auto Accident Lawyer
Look over the sellers disclosures. Bring all of your paperwork to a real estate lawyer and get some advice ASAP.