Purchased home then found out the state is tearing down the neighbors home to build commercial buildings... Were we cheated?

dan

Plant
Aug 15, 2022
2
1
0
Closed on our first home in July. We are in the process of renovating when a chat with the neighbor leads us to find out the state bought their property, and are buying all the houses on the street, to widen the road and add commercial buildings. Two year project starting in Spring.

We were NOT informed of this. For context, we are the second house in from a relatively busy road (3 lane, 45mph). The house directly next to us (the 1st house ON the busy rd) is staying but they are using some of their property to widen the road. The house across from them (the house our home faces) is being completely torn down and commercial.

This was a serious curveball because had we been informed of this, that easily would've been a dealbreaker for us. Our agent knew we were already hesitant because of being so close to the busy road, but we loved the house so much we compromised. However this changes everything and it seems as though this should have been disclosed.

Our property might not be directly affected, but this certainly affects our home's value and would have 100% affected our decision making. I have yet to call our agent to see if she knew of this, but there's no way I can imagine the sellers or the sellers agent didnt know of this. Legally, should this have been disclosed? What rights do we have as buyers? Or wis there no wrongdoing here and we just accept the buyers remorse? Looking for advice if anyone has gone through something similar and what the recourse is...
 
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Ritzybacker

Plant
Aug 20, 2022
2
0
0
In my state it’s up to the buyer to find out these types of plans that are considered public information. Our agents tried to explain to us what all “buyer beware” means in our state when we had our initial meeting with them. The other things that jumped out at me that did not need to be disclosed and were up to us to research were flood zones, dam break zones (which are different than the flood risk score that you see on the popular real estate sites), nearby planned rezoning and building projects, and proximity to known sex offenders. I think that buyer beware is a bunch of baloney but that’s the way it is where I live.

There are plans to put in a new data center in another part of the county that we just recently bought a home in. The data center will require that they install massive high voltage transmission lines and towers that will run nearby the entrance to our neighborhood. I will be able to see them off in the distance from my backyard if they get built. Being too close to these high voltage transmission lines are known to really hurt property values. There is a huge citizen led campaign that is trying to get the county to require that the power company must bury these lines. We happened to find out this information from a local county community page on Facebook a week or so after closing. Whomp whomp...