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

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...

submitted by /u/InexperiencedCoconut
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/wt1o02/purchased_home_then_found_out_the_state_is/
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