If a broker misrepresents property tax information, what can the buyer do before closing?

When a broker misrepresents property tax information, the buyer has the right to seek to rescind the contract before closing. This action is supported by the principle that both parties need accurate information to make informed decisions regarding the transaction. Misrepresentation constitutes a breach of trust and can significantly affect the buyer’s understanding of the property’s financial obligations.

By choosing to rescind the contract, the buyer essentially seeks to void the agreement based on the broker's misleading actions. This remedy is grounded in the idea that the buyer should not be held to an agreement when critical information, like property tax representations, was inaccurately conveyed, potentially leading to unfair financial burdens.

While other options may seem viable, they do not fully address the gravity of the misrepresentation. For example, proceeding with the purchase anyway ignores the seriousness of the issue, filing a complaint might address the broker's misconduct but does not directly remedy the buyer's situation regarding the contract, and requesting a price reduction could lead to an insufficient resolution given the initial misrepresentation. Thus, rescinding the contract is the most appropriate and legally sound response to such a situation.