What can a buyer do if they relied on a broker’s false statement about property taxes?

When a buyer relies on a broker’s false statement regarding property taxes, the most appropriate and legally supported action is to seek to rescind the contract on the basis of misrepresentation. Misrepresentation occurs when one party provides false information that induces another party to enter into a contract. In this case, if the buyer can demonstrate that the broker’s statement was not only false but also a key factor in their decision to purchase the property, they may have grounds to void the contract.

Rescission of a contract is a legal remedy that allows the buyer to withdraw from the agreement and return to the position they were in before the contract was made. This action aims to rectify the situation caused by the broker’s misleading information, restoring fairness and accountability in the transaction. It emphasizes the importance of accurate information in real estate dealings and protects buyers who have been misled.

Other options, while potentially valid in different contexts, do not address the core issue of legal misrepresentation as effectively as rescinding the contract does. Proceeding with the purchase regardless would ignore the consequences of the false information. Requesting a discount may not adequately address the misrepresentation if the buyer feels deceived or harmed by the broker’s statement. Filing a complaint with the local real estate association