Real Estate Contract Binds Purchasers, N.Y. Court Says in Dismissing Case

MINEOLA, N.Y. - Homebuyers' written acknowledgement that they were aware of the condition of the property before agreeing to the purchase precludes their effort to bring a fraudulent concealment action against the sellers, a New York trial court found on Nov. 15. Grodsky v. Tzeng, No. 198/04 (N.Y. Sup., Nassau Cty.).

Scott and Christine Grodsky sued Gwo Shyong Tzeng and Susan Tzeng after purchasing the Tzeng's home for $1.7 million, complaining that the Tzeng's concealed water and mold damage prior to the sale.

The Grodsky's contended that after they moved in they discovered damage around bathroom windows and a skylight …