I purchased a home in July 2006 in Fairfax County, Virginia. The home was listed as a 5 bedroom home, including a bedroom in the fully finished basement. The listing for the sale of the home identified the basement bedroom. In May 2015, we spoke with a realtor about listing our home for sale and learned that the basement bedroom does not meet the code requirements for egress (the window is not large enough and is too far off the floor). Reducing the number of bedrooms in the home decreases the value of the property and we feel we were deceived by the listing realtor when we purchased the home. Can the listing agent be held liable for the cost to correct the window to meet code requirements? What other recourse is available to us?
Even if there were liability, I think it has been way too long since you bought the house and the statute of limitations has expired. Also, in the nearly 10 years since you purchased the property the standards for listing features have increased as well as the training for agents. Another factor is the prior owner may have used it as a bedroom (legal or not) and the listing/selling agents simply didn't know better.
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Giv n the timeframe, I think you have missed any window of opportunity to seek legal recourse. You have missed the statute of limitations.
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