I am in escrow to buy a property. We have noticed that this building has several cracks and most likely serious foundation problem. We have been told that in state of California the owner should inclose all the serious and exciting issue and needs to fix it. However the seller seems not willing to fix or address the issue by either fixing it or discount the price.is there any law in California in this regard. We don't know how much this will cost it can be 20,000. To 100,000.$
We need to hire geologist and structural company then a contractor and adding city permit ,...
Which are very costly to find out. I have been told it is sellers responsibility to sell the property in good standing condition, and even if he sells it this way because it has this exciting condition, he will be responsible for it even after sell. Is it true?
What is the law and how California protect the buyers ?
This is a regular sale , I have told even in case of foreclosure , Even banks can not get away from such a big issue?
Would you please provide me some advice so I can talk to them based on what law is in California. Our agnates don't know anything about the legal matter in this case. This is a commercial property not home.